Deutsche Bank Aktiengesellschaft Forecasts Strong Price Appreciation for Bank of New York Mellon (NYSE:BK) Stock

Bank of New York Mellon (NYSE:BK) had its price objective lifted by Deutsche Bank Aktiengesellschaft from $82.00 to $85.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the bank’s stock. Deutsche Bank Aktiengesellschaft’s price target would indicate a potential upside of 9.06% from the company’s current price.

Several other equities research analysts also recently weighed in on the company. Wells Fargo & Company upped their target price on Bank of New York Mellon from $69.00 to $79.00 and gave the stock an “equal weight” rating in a research report on Monday, October 14th. The Goldman Sachs Group increased their price objective on shares of Bank of New York Mellon from $74.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. JPMorgan Chase & Co. raised their target price on Bank of New York Mellon from $69.00 to $77.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $75.00 price target (up previously from $70.00) on shares of Bank of New York Mellon in a research note on Monday, July 15th. Finally, StockNews.com upgraded Bank of New York Mellon from a “hold” rating to a “buy” rating in a research note on Monday, October 14th. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $77.08.

Bank of New York Mellon Trading Down 0.9 %

Shares of BK stock opened at $77.94 on Monday. Bank of New York Mellon has a fifty-two week low of $45.22 and a fifty-two week high of $80.29. The firm’s 50 day moving average price is $73.16 and its two-hundred day moving average price is $65.43. The stock has a market cap of $56.67 billion, a price-to-earnings ratio of 16.94, a price-to-earnings-growth ratio of 0.90 and a beta of 1.07. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.89.

Bank of New York Mellon (NYSE:BK) last posted its earnings results on Friday, October 11th. The bank reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.11. Bank of New York Mellon had a net margin of 9.44% and a return on equity of 12.06%. The business had revenue of $4.65 billion for the quarter, compared to analyst estimates of $4.52 billion. On average, analysts anticipate that Bank of New York Mellon will post 5.82 EPS for the current year.

Insider Transactions at Bank of New York Mellon

In related news, VP Hanneke Smits sold 16,475 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $76.47, for a total transaction of $1,259,843.25. Following the completion of the sale, the vice president now owns 157,455 shares of the company’s stock, valued at $12,040,583.85. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP J Kevin Mccarthy sold 25,000 shares of the business’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $76.31, for a total transaction of $1,907,750.00. Following the completion of the transaction, the executive vice president now owns 75,404 shares of the company’s stock, valued at approximately $5,754,079.24. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Hanneke Smits sold 16,475 shares of the company’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $76.47, for a total transaction of $1,259,843.25. Following the transaction, the vice president now owns 157,455 shares of the company’s stock, valued at $12,040,583.85. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.14% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Studio Investment Management LLC raised its holdings in shares of Bank of New York Mellon by 2.1% during the third quarter. Studio Investment Management LLC now owns 6,636 shares of the bank’s stock valued at $477,000 after buying an additional 134 shares during the last quarter. Stanley Laman Group Ltd. raised its stake in Bank of New York Mellon by 2.2% during the 3rd quarter. Stanley Laman Group Ltd. now owns 6,198 shares of the bank’s stock valued at $445,000 after acquiring an additional 135 shares in the last quarter. Avidian Wealth Enterprises LLC boosted its position in Bank of New York Mellon by 2.0% during the 3rd quarter. Avidian Wealth Enterprises LLC now owns 7,024 shares of the bank’s stock worth $505,000 after acquiring an additional 137 shares during the period. Frank Rimerman Advisors LLC grew its stake in shares of Bank of New York Mellon by 1.1% in the third quarter. Frank Rimerman Advisors LLC now owns 12,908 shares of the bank’s stock worth $928,000 after purchasing an additional 142 shares in the last quarter. Finally, Sigma Planning Corp increased its holdings in shares of Bank of New York Mellon by 2.7% during the third quarter. Sigma Planning Corp now owns 5,470 shares of the bank’s stock valued at $393,000 after purchasing an additional 143 shares during the period. 85.31% of the stock is owned by institutional investors and hedge funds.

Bank of New York Mellon Company Profile

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.