A number of research firms have changed their ratings and price targets for Bank of New York Mellon (NYSE: BK):

  • 3/12/2018 – Bank of New York Mellon had its price target raised by analysts at Morgan Stanley from $65.00 to $66.00. They now have an “overweight” rating on the stock.
  • 3/12/2018 – Bank of New York Mellon was downgraded by analysts at Goldman Sachs from a “buy” rating to a “neutral” rating. They noted that the move was a valuation call. They noted that the move was a valuation call.
  • 3/8/2018 – Bank of New York Mellon was given a new $57.00 price target on by analysts at Keefe, Bruyette & Woods. They now have a “hold” rating on the stock.
  • 3/7/2018 – Bank of New York Mellon was upgraded by analysts at Bank of America Corp from an “underperform” rating to a “neutral” rating. They now have a $52.00 price target on the stock.
  • 3/6/2018 – Bank of New York Mellon had its price target raised by analysts at Deutsche Bank AG from $64.00 to $65.00. They now have a “buy” rating on the stock.
  • 2/2/2018 – Bank of New York Mellon had its price target raised by analysts at Morgan Stanley from $64.00 to $65.00. They now have an “overweight” rating on the stock.
  • 1/24/2018 – Bank of New York Mellon had its “hold” rating reaffirmed by analysts at Vining Sparks. They now have a $60.00 price target on the stock. They wrote, “BK currently trades at a 14x price-to- earnings multiple and has a short-term risk that its operating expenses could continue to move higher as management catches-up on its investment spending. As a result, we are targeting around a 6% total return through year-end 2018E. EPS ($) FY (Dec) 2016 0.73 0.74 0.87 0.76 3.09 18.7x 2017 0.79 0.88 0.94 0.91 3.53 16.4x 2018E 0.96E 1.05E 1.09E 1.10E 4.20E 13.7x Prior 1.02E 1.11E 1.16E 1.16E 4.45E 13.0x Street Est 1Q 2Q 3Q 4Q FY P/E 2018E 0.95E 1.00E 1.06E 1.04E 4.04E 14.3x TBVPS ($) 1Q 2Q 3Q 4Q FY P/TBV 2016 13.48 13.83 14.22 13.70 13.70 421% 2017 14.13 14.97 15.60 16.51 16.51 350% 2018E 16.78E 17.13E 17.43E 17.74E 17.74E 325% Prior 16.23E 16.70E 17.13E 17.57E 17.57E 329% Dividend Per Share 2016 0.17 0.17 0.19 0.19 0.72 1.2% 2017E 0.19 0.19 0.24 0.24 0.86 1.5% 2018E 0.24E 0.24E 0.27E 0.27E 1.02E 1.8% FY P/E 1Q 2Q 3Q 4Q FY Yield 4Q 1Q 2Q 3Q P/TBV (%) 350% Dividend Yield 1.7% Sources: SNL Financial & Vining Sparks, IBG LP.””
  • 1/21/2018 – Bank of New York Mellon had its “buy” rating reaffirmed by analysts at Barclays.
  • 1/19/2018 – Bank of New York Mellon was downgraded by analysts at JPMorgan Chase & Co. from a “neutral” rating to an “underweight” rating. They now have a $55.50 price target on the stock.
  • 1/19/2018 – Bank of New York Mellon was upgraded by analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating. They now have a $60.00 price target on the stock.
  • 1/19/2018 – Bank of New York Mellon had its “hold” rating reaffirmed by analysts at Sandler O’Neill. They now have a $58.00 price target on the stock.

Bank of New York Mellon stock traded down $0.66 during trading hours on Monday, reaching $54.34. The company’s stock had a trading volume of 5,087,126 shares, compared to its average volume of 5,034,046. Bank of New York Mellon Corp has a twelve month low of $45.12 and a twelve month high of $58.99. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.82. The company has a market capitalization of $55,536.19, a price-to-earnings ratio of 14.57, a PEG ratio of 1.76 and a beta of 1.16.

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Bank of New York Mellon (NYSE:BK) last released its quarterly earnings data on Thursday, January 18th. The bank reported $0.91 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.91. The firm had revenue of $3.73 billion during the quarter, compared to analyst estimates of $4.01 billion. Bank of New York Mellon had a return on equity of 10.69% and a net margin of 24.72%. The business’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.77 earnings per share. equities analysts anticipate that Bank of New York Mellon Corp will post 4.04 earnings per share for the current year.

In other Bank of New York Mellon news, Director Trian Fund Management, L.P. acquired 360,000 shares of the company’s stock in a transaction dated Friday, March 9th. The stock was purchased at an average price of $56.67 per share, with a total value of $20,401,200.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Bridget E. Engle sold 38,928 shares of the company’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $56.62, for a total value of $2,204,103.36. Following the completion of the transaction, the insider now directly owns 68,046 shares of the company’s stock, valued at approximately $3,852,764.52. The disclosure for this sale can be found here. Corporate insiders own 1.76% of the company’s stock.

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.

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