Barclays Raises Bank of New York Mellon (NYSE:BK) Price Target to $86.00

Bank of New York Mellon (NYSE:BK) had its target price increased by Barclays from $75.00 to $86.00 in a report published on Monday, Benzinga reports. Barclays currently has an overweight rating on the bank’s stock.

A number of other research analysts have also weighed in on BK. Morgan Stanley raised their target price on shares of Bank of New York Mellon from $72.00 to $78.00 and gave the stock an “equal weight” rating in a research note on Monday, September 30th. Deutsche Bank Aktiengesellschaft raised shares of Bank of New York Mellon from a “hold” rating to a “buy” rating and raised their target price for the stock from $66.00 to $80.00 in a research note on Monday, September 23rd. Evercore ISI lifted their price target on shares of Bank of New York Mellon from $66.00 to $77.00 and gave the company an “in-line” rating in a research report on Monday. UBS Group lifted their price target on shares of Bank of New York Mellon from $73.00 to $82.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Finally, Citigroup lifted their price target on shares of 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. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $76.69.

Bank of New York Mellon Trading Up 1.4 %

Shares of Bank of New York Mellon stock opened at $77.30 on Monday. The firm has a market capitalization of $57.81 billion, a PE ratio of 17.89, a P/E/G ratio of 1.16 and a beta of 1.08. Bank of New York Mellon has a twelve month low of $39.66 and a twelve month high of $77.67. The firm’s 50-day moving average price is $69.26 and its 200 day moving average price is $62.83. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.85.

Bank of New York Mellon Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Monday, October 21st will be issued a $0.47 dividend. The ex-dividend date of this dividend is Monday, October 21st. This represents a $1.88 annualized dividend and a yield of 2.43%. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 43.52%.

Hedge Funds Weigh In On Bank of New York Mellon

Several institutional investors have recently modified their holdings of the business. Ellsworth Advisors LLC grew its stake in shares of Bank of New York Mellon by 38.1% in the third quarter. Ellsworth Advisors LLC now owns 4,783 shares of the bank’s stock worth $344,000 after acquiring an additional 1,320 shares in the last quarter. Cardinal Capital Management grew its stake in shares of Bank of New York Mellon by 0.8% in the third quarter. Cardinal Capital Management now owns 142,814 shares of the bank’s stock worth $10,263,000 after acquiring an additional 1,183 shares in the last quarter. Bleakley Financial Group LLC grew its stake in shares of Bank of New York Mellon by 6.4% in the third quarter. Bleakley Financial Group LLC now owns 10,664 shares of the bank’s stock worth $766,000 after acquiring an additional 646 shares in the last quarter. One Wealth Advisors LLC grew its stake in shares of Bank of New York Mellon by 20.6% in the third quarter. One Wealth Advisors LLC now owns 5,202 shares of the bank’s stock worth $374,000 after acquiring an additional 889 shares in the last quarter. Finally, Mezzasalma Advisors LLC grew its stake in shares of Bank of New York Mellon by 4.2% in the third quarter. Mezzasalma Advisors LLC now owns 4,480 shares of the bank’s stock worth $322,000 after acquiring an additional 181 shares in the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

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.