UBS Group Raises Bank of New York Mellon (NYSE:BK) Price Target to $82.00

Bank of New York Mellon (NYSE:BK) had its price target raised by UBS Group from $73.00 to $82.00 in a research note issued to investors on Tuesday morning, Benzinga reports. The firm currently has a buy rating on the bank’s stock.

Other equities research analysts have also issued research reports about the company. Morgan Stanley lifted their target price on Bank of New York Mellon from $72.00 to $78.00 and gave the company an equal weight rating in a research report on Monday, September 30th. Evercore ISI lifted their price objective on Bank of New York Mellon from $61.00 to $66.00 and gave the company an in-line rating in a report on Monday, July 15th. The Goldman Sachs Group boosted their price target on Bank of New York Mellon from $74.00 to $80.00 and gave the stock a buy rating in a report on Thursday, September 26th. Keefe, Bruyette & Woods restated an outperform rating and set a $75.00 price objective (up previously from $70.00) on shares of Bank of New York Mellon in a research report on Monday, July 15th. Finally, Citigroup upped their price target on Bank of New York Mellon from $65.00 to $70.00 and gave the company a neutral rating in a research report on Thursday, September 19th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Bank of New York Mellon currently has an average rating of Moderate Buy and a consensus target price of $72.92.

Bank of New York Mellon Price Performance

Bank of New York Mellon stock opened at $74.45 on Tuesday. Bank of New York Mellon has a 12-month low of $39.66 and a 12-month high of $74.47. The business’s 50-day simple moving average is $67.95 and its 200 day simple moving average is $62.18. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.85. The stock has a market cap of $55.67 billion, a price-to-earnings ratio of 17.22, a P/E/G ratio of 1.24 and a beta of 1.08.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings results on Friday, July 12th. The bank reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.08. The company had revenue of $4.60 billion for the quarter, compared to analyst estimates of $4.53 billion. Bank of New York Mellon had a return on equity of 11.87% and a net margin of 9.40%. Bank of New York Mellon’s revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.38 earnings per share. As a group, research analysts anticipate that Bank of New York Mellon will post 5.63 earnings per share for the current year.

Insider Transactions at Bank of New York Mellon

In other Bank of New York Mellon news, VP Hanneke Smits sold 15,000 shares of the firm’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $64.11, for a total transaction of $961,650.00. Following the sale, the vice president now owns 173,930 shares in the company, valued at $11,150,652.30. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.14% of the company’s stock.

Institutional Trading of Bank of New York Mellon

Large investors have recently bought and sold shares of the company. Sound Income Strategies LLC grew its position in shares of Bank of New York Mellon by 9.0% during the 3rd quarter. Sound Income Strategies LLC now owns 57,300 shares of the bank’s stock valued at $4,118,000 after acquiring an additional 4,720 shares during the period. McGlone Suttner Wealth Management Inc. grew its position in shares of Bank of New York Mellon by 36.0% during the third quarter. McGlone Suttner Wealth Management Inc. now owns 6,670 shares of the bank’s stock valued at $479,000 after purchasing an additional 1,765 shares in the last quarter. Ritholtz Wealth Management lifted its holdings in shares of Bank of New York Mellon by 10.9% in the 3rd quarter. Ritholtz Wealth Management now owns 27,643 shares of the bank’s stock valued at $1,986,000 after acquiring an additional 2,718 shares during the last quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH lifted its holdings in shares of Bank of New York Mellon by 2.2% in the 3rd quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 27,314 shares of the bank’s stock valued at $1,963,000 after acquiring an additional 585 shares during the last quarter. Finally, Valeo Financial Advisors LLC lifted its holdings in shares of Bank of New York Mellon by 4.4% in the 3rd quarter. Valeo Financial Advisors LLC now owns 8,902 shares of the bank’s stock valued at $640,000 after acquiring an additional 372 shares during the last quarter. 85.31% of the stock is owned by institutional investors.

About Bank of New York Mellon

The Bank of New York Mellon Corporation provides a range of financial products and services in the United States and internationally. The company operates through Securities Services, Market and Wealth Services, Investment and Wealth Management, and other segments. The Securities Services segment offers custody, trust and depositary, accounting, exchange-traded funds, middle-office solutions, transfer agency, services for private equity and real estate funds, foreign exchange, securities lending, liquidity/lending services, and data analytics.