Bank Of New York Mellon Corp. (NYSE:BK)‘s stock had its “buy” rating reiterated by equities research analysts at Barclays PLC in a report released on Tuesday. They presently have a $48.00 price objective on the stock. Barclays PLC’s target price would indicate a potential upside of 17.99% from the company’s previous close.

Several other research analysts have also recently commented on the company. Credit Suisse Group AG reissued a “hold” rating and set a $42.00 price target on shares of Bank Of New York Mellon Corp. in a research report on Tuesday, August 30th. Deutsche Bank AG increased their price target on Bank Of New York Mellon Corp. from $50.00 to $51.00 and gave the company a “buy” rating in a research report on Friday, September 9th. Zacks Investment Research raised Bank Of New York Mellon Corp. from a “sell” rating to a “hold” rating in a research report on Monday, August 29th. Jefferies Group reissued a “hold” rating and set a $38.00 price target on shares of Bank Of New York Mellon Corp. in a research report on Thursday, August 25th. Finally, Buckingham Research reissued a “buy” rating on shares of Bank Of New York Mellon Corp. in a research report on Tuesday, June 21st. Six research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $45.05.

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

Shares of Bank Of New York Mellon Corp. (NYSE:BK) traded down 1.79% during mid-day trading on Tuesday, hitting $39.95. The stock had a trading volume of 3,932,047 shares. The stock has a market capitalization of $42.65 billion, a P/E ratio of 14.33 and a beta of 1.38. The stock has a 50 day moving average of $40.58 and a 200-day moving average of $39.80. Bank Of New York Mellon Corp. has a 52 week low of $32.20 and a 52 week high of $44.73.

Bank Of New York Mellon Corp. (NYSE:BK) last posted its quarterly earnings data on Thursday, July 21st. The company reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.01. The company earned $3.78 billion during the quarter, compared to analysts’ expectations of $3.79 billion. Bank Of New York Mellon Corp. had a return on equity of 9.31% and a net margin of 20.86%. Bank Of New York Mellon Corp.’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.73 earnings per share. On average, equities research analysts predict that Bank Of New York Mellon Corp. will post $3.04 earnings per share for the current year.

In related news, Director Trian Fund Management, L.P. purchased 152,000 shares of Bank Of New York Mellon Corp. stock in a transaction that occurred on Friday, July 22nd. The shares were acquired at an average price of $38.87 per share, with a total value of $5,908,240.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 3.40% of the company’s stock.

Large investors have recently modified their holdings of the company. Jarislowsky Fraser Ltd increased its stake in shares of Bank Of New York Mellon Corp. by 1,000.6% in the second quarter. Jarislowsky Fraser Ltd now owns 10,322,439 shares of the company’s stock worth $257,964,000 after buying an additional 9,384,511 shares in the last quarter. Emerald Acquisition Ltd. acquired a new stake in shares of Bank Of New York Mellon Corp. during the second quarter worth $85,914,000. Dodge & Cox increased its stake in shares of Bank Of New York Mellon Corp. by 3.5% in the second quarter. Dodge & Cox now owns 55,928,092 shares of the company’s stock worth $2,172,806,000 after buying an additional 1,880,245 shares in the last quarter. Capital International Investors increased its stake in shares of Bank Of New York Mellon Corp. by 29.0% in the second quarter. Capital International Investors now owns 5,738,000 shares of the company’s stock worth $222,921,000 after buying an additional 1,290,000 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Bank Of New York Mellon Corp. by 2.0% in the second quarter. Vanguard Group Inc. now owns 63,002,399 shares of the company’s stock worth $2,447,643,000 after buying an additional 1,218,292 shares in the last quarter. 81.93% of the stock is currently owned by institutional investors and hedge funds.

About Bank Of New York Mellon Corp.

The Bank of New York Mellon Corporation (BNY Mellon) 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 credit-related services; the leasing portfolio; corporate treasury activities, including its investment securities portfolio; its equity interest in ConvergEx Group; business exits, and corporate overhead.

5 Day Chart for NYSE:BK

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