Bank Of New York Mellon (NYSE:BK) had its target price increased by Barclays from $55.00 to $66.00 in a report published on Tuesday morning, MarketBeat Ratings reports. Barclays currently has an overweight rating on the bank’s stock.

BK has been the topic of a number of other reports. Royal Bank of Canada reaffirmed a hold rating and issued a $58.00 price objective on shares of Bank Of New York Mellon in a research note on Wednesday, November 15th. Credit Suisse Group reaffirmed a hold rating and issued a $55.00 price objective on shares of Bank Of New York Mellon in a research note on Tuesday, October 10th. Morgan Stanley lifted their price objective on Bank Of New York Mellon from $55.00 to $60.00 and gave the stock an equal weight rating in a research note on Friday, October 20th. ValuEngine upgraded Bank Of New York Mellon from a hold rating to a buy rating in a report on Tuesday, December 5th. Finally, Zacks Investment Research upgraded Bank Of New York Mellon from a hold rating to a buy rating and set a $61.00 target price for the company in a report on Wednesday, December 20th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and seven have assigned a buy rating to the company. The stock presently has a consensus rating of Hold and an average price target of $55.82.

Shares of Bank Of New York Mellon (BK) traded up $0.54 during mid-day trading on Tuesday, hitting $54.69. The stock had a trading volume of 2,886,500 shares, compared to its average volume of 2,976,267. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.85. The firm has a market capitalization of $55,450.79, a price-to-earnings ratio of 15.99, a price-to-earnings-growth ratio of 1.75 and a beta of 1.23. Bank Of New York Mellon has a 12-month low of $43.85 and a 12-month high of $55.40.

Bank Of New York Mellon (NYSE:BK) last posted its quarterly earnings data on Thursday, October 19th. The bank reported $0.94 EPS for the quarter, topping the Zacks’ consensus estimate of $0.93 by $0.01. The company had revenue of $4.02 billion for the quarter, compared to analyst estimates of $3.99 billion. Bank Of New York Mellon had a return on equity of 10.51% and a net margin of 23.14%. The firm’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.90 earnings per share. analysts forecast that Bank Of New York Mellon will post 3.55 EPS for the current year.

In related news, Director Edward P. Garden sold 1,031,157 shares of Bank Of New York Mellon stock in a transaction that occurred on Friday, October 20th. The stock was sold at an average price of $53.13, for a total transaction of $54,785,371.41. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Trian Fund Management, L.P. sold 5,798,725 shares of Bank Of New York Mellon stock in a transaction that occurred on Tuesday, October 24th. The shares were sold at an average price of $52.42, for a total value of $303,969,164.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,708,334 shares of company stock valued at $404,956,863. Corporate insiders own 3.60% of the company’s stock.

Hedge funds have recently bought and sold shares of the business. American Century Companies Inc. lifted its position in shares of Bank Of New York Mellon by 14.3% during the 2nd quarter. American Century Companies Inc. now owns 4,316,545 shares of the bank’s stock valued at $220,230,000 after buying an additional 539,926 shares during the last quarter. TRUE Private Wealth Advisors purchased a new position in shares of Bank Of New York Mellon during the 2nd quarter valued at $246,000. First Interstate Bank lifted its position in shares of Bank Of New York Mellon by 56.2% during the 2nd quarter. First Interstate Bank now owns 2,339 shares of the bank’s stock valued at $119,000 after buying an additional 842 shares during the last quarter. Burt Wealth Advisors lifted its position in shares of Bank Of New York Mellon by 2,186.7% during the 2nd quarter. Burt Wealth Advisors now owns 2,744 shares of the bank’s stock valued at $139,000 after buying an additional 2,624 shares during the last quarter. Finally, Essex Financial Services Inc. lifted its position in shares of Bank Of New York Mellon by 7.6% during the 2nd quarter. Essex Financial Services Inc. now owns 14,646 shares of the bank’s stock valued at $747,000 after buying an additional 1,032 shares during the last quarter. 82.92% of the stock is currently owned by institutional investors and hedge funds.

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About Bank Of New York Mellon

The Bank of New York Mellon Corporation is an investments company. The Company operates businesses through two segments: Investment Management and Investment Services. The Company also has an Other segment, which includes the leasing portfolio, corporate treasury activities (including its investment securities portfolio), derivatives and other trading, corporate and bank-owned life insurance and renewable energy investments, and business exits.

Analyst Recommendations for Bank Of New York Mellon (NYSE:BK)

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