Buckingham Research lowered shares of Bank Of New York Mellon Corp. (NYSE:BK) from a buy rating to a neutral rating in a research report report published on Monday morning. The firm currently has $52.00 price objective on the stock.

A number of other research analysts have also recently weighed in on the stock. Barclays PLC reaffirmed a buy rating and set a $48.00 price target on shares of Bank Of New York Mellon Corp. in a research report on Tuesday, October 11th. Zacks Investment Research raised shares of Bank Of New York Mellon Corp. from a hold rating to a buy rating and set a $44.00 price target on the stock in a research report on Friday, October 14th. Credit Suisse Group AG reaffirmed 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. lifted their price target on shares of Bank Of New York Mellon Corp. from $45.00 to $47.00 and gave the company an outperform rating in a research report on Friday, September 23rd. Finally, Keefe, Bruyette & Woods raised shares of Bank Of New York Mellon Corp. from a market perform rating to an outperform rating and lifted their price target for the company from $48.00 to $50.00 in a research report on Friday, October 21st. Six analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and an average price target of $46.13.

Bank Of New York Mellon Corp. (NYSE:BK) opened at 47.47 on Monday. The firm has a market cap of $50.19 billion, a PE ratio of 16.06 and a beta of 1.30. Bank Of New York Mellon Corp. has a one year low of $32.20 and a one year high of $47.96. The stock has a 50 day moving average of $43.49 and a 200 day moving average of $41.01.

Bank Of New York Mellon Corp. (NYSE:BK) last released its earnings results on Thursday, October 20th. The company reported $0.90 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.81 by $0.09. Bank Of New York Mellon Corp. had a net margin of 21.65% and a return on equity of 9.66%. The business had revenue of $3.93 billion for the quarter, compared to analysts’ expectations of $3.86 billion. During the same period last year, the company earned $0.74 earnings per share. The company’s quarterly revenue was up 3.6% on a year-over-year basis. On average, equities analysts forecast that Bank Of New York Mellon Corp. will post $3.16 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 10th. Shareholders of record on Tuesday, November 1st were given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.60%. The ex-dividend date was Friday, October 28th. Bank Of New York Mellon Corp.’s dividend payout ratio (DPR) is presently 25.68%.

In other Bank Of New York Mellon Corp. news, CEO Gerald L. Hassell sold 191,042 shares of the business’s stock in a transaction dated Monday, October 24th. The stock was sold at an average price of $43.22, for a total transaction of $8,256,835.24. Following the sale, the chief executive officer now owns 1,003,176 shares in the company, valued at approximately $43,357,266.72. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Gerald L. Hassell sold 40,000 shares of the business’s stock in a transaction dated Monday, October 31st. The stock was sold at an average price of $34.35, for a total value of $1,374,000.00. Following the sale, the chief executive officer now owns 1,003,176 shares in the company, valued at approximately $34,459,095.60. The disclosure for this sale can be found here. 3.40% of the stock is currently owned by company insiders.

Hedge funds have recently bought and sold shares of the company. Magnetar Financial LLC increased its stake in Bank Of New York Mellon Corp. by 67.7% in the first quarter. Magnetar Financial LLC now owns 9,348 shares of the company’s stock valued at $344,000 after buying an additional 3,773 shares during the last quarter. Arizona State Retirement System increased its stake in Bank Of New York Mellon Corp. by 0.8% in the first quarter. Arizona State Retirement System now owns 291,666 shares of the company’s stock valued at $10,742,000 after buying an additional 2,300 shares during the last quarter. Seven Eight Capital LLC increased its stake in Bank Of New York Mellon Corp. by 31.2% in the first quarter. Seven Eight Capital LLC now owns 42,937 shares of the company’s stock valued at $1,581,000 after buying an additional 10,200 shares during the last quarter. Squarepoint Ops LLC increased its stake in Bank Of New York Mellon Corp. by 190.4% in the first quarter. Squarepoint Ops LLC now owns 242,617 shares of the company’s stock valued at $8,936,000 after buying an additional 159,065 shares during the last quarter. Finally, Oak Associates Ltd. OH increased its stake in Bank Of New York Mellon Corp. by 8.6% in the first quarter. Oak Associates Ltd. OH now owns 133,385 shares of the company’s stock valued at $4,913,000 after buying an additional 10,580 shares during the last quarter. Hedge funds and other institutional investors own 82.89% of the company’s stock.

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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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