Analysts Set Bank of New York Mellon Corporation (NYSE:BNY) Target Price at $157.13

Bank of New York Mellon Corporation (NYSE:BNY) has earned a consensus recommendation of “Moderate Buy” from the seventeen research firms that are currently covering the firm, Marketbeat.com reports. Five research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $157.1333.

Several research analysts have recently weighed in on the stock. Argus upped their target price on shares of Bank of New York Mellon from $153.00 to $180.00 and gave the company a “buy” rating in a research note on Wednesday, July 22nd. Bank of America boosted their price objective on shares of Bank of New York Mellon from $165.00 to $175.00 and gave the stock a “buy” rating in a report on Monday, July 20th. JPMorgan Chase & Co. upped their price objective on shares of Bank of New York Mellon from $149.00 to $159.00 and gave the company an “overweight” rating in a research report on Tuesday, August 4th. Keefe, Bruyette & Woods raised their target price on Bank of New York Mellon from $166.00 to $177.00 and gave the company an “outperform” rating in a research note on Thursday, July 16th. Finally, Wells Fargo & Company lifted their target price on Bank of New York Mellon from $152.00 to $162.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 16th.

Insider Activity

In other Bank of New York Mellon news, CFO Dermot Mcdonogh sold 31,800 shares of the company’s stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $155.26, for a total value of $4,937,268.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.17% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. California State Teachers Retirement System acquired a new stake in shares of Bank of New York Mellon in the 2nd quarter valued at about $22,603,252,000. Vanguard Group Inc. grew its stake in Bank of New York Mellon by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 71,319,884 shares of the bank’s stock worth $8,279,525,000 after purchasing an additional 647,847 shares in the last quarter. BlackRock Inc. acquired a new position in Bank of New York Mellon in the second quarter worth about $8,321,111,000. Northwestern Mutual Wealth Management Co. increased its holdings in Bank of New York Mellon by 18,044.4% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 19,670,202 shares of the bank’s stock valued at $2,283,514,000 after buying an additional 19,561,793 shares during the last quarter. Finally, Bank of America Corp DE acquired a new stake in Bank of New York Mellon during the second quarter valued at approximately $2,499,438,000. 85.31% of the stock is currently owned by institutional investors.

Bank of New York Mellon Stock Performance

Shares of NYSE:BNY opened at $162.50 on Tuesday. The business’s 50-day simple moving average is $155.73 and its 200 day simple moving average is $138.06. The company has a market cap of $110.26 billion, a P/E ratio of 18.92, a PEG ratio of 1.15 and a beta of 1.06. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.72 and a current ratio of 0.72. Bank of New York Mellon has a one year low of $102.63 and a one year high of $165.68.

Bank of New York Mellon (NYSE:BNY) last released its quarterly earnings results on Wednesday, July 15th. The bank reported $2.46 earnings per share for the quarter, topping analysts’ consensus estimates of $2.16 by $0.30. The firm had revenue of $5.70 billion during the quarter, compared to analysts’ expectations of $5.35 billion. Bank of New York Mellon had a return on equity of 16.00% and a net margin of 15.52%.Bank of New York Mellon’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.93 EPS. On average, sell-side analysts forecast that Bank of New York Mellon will post 9.26 earnings per share for the current fiscal year.

About Bank of New York Mellon

BNY, formerly known as BNY Mellon, is a global financial services company headquartered in New York City. Formed in 2007 through the merger of the Bank of New York and Mellon Financial Corporation, BNY traces its roots back to 1784, making it one of the oldest banking institutions in the United States. It was also the first company listed on the New York Stock Exchange.

BNY operates at the center of the world’s capital markets, partnering with clients to help them operate more efficiently and accelerate growth.