Bank of New York Mellon Corporation (NYSE:BNY) Receives Consensus Rating of “Moderate Buy” from Brokerages

Bank of New York Mellon Corporation (NYSE:BNYGet Free Report) has received an average recommendation of “Moderate Buy” from the seventeen analysts that are presently covering the firm, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $157.1333.

Several research firms recently issued reports on BNY. Truist Financial upped their price objective on Bank of New York Mellon from $160.00 to $178.00 and gave the company a “buy” rating in a research report on Thursday, July 16th. Citigroup upped their price target on Bank of New York Mellon from $167.00 to $172.00 and gave the company a “neutral” rating in a report on Monday, July 20th. Royal Bank Of Canada lifted their price objective on Bank of New York Mellon from $142.00 to $168.00 and gave the stock a “sector perform” rating in a report on Thursday, July 16th. Keefe, Bruyette & Woods boosted their target price on Bank of New York Mellon from $166.00 to $177.00 and gave the stock an “outperform” rating in a research report on Thursday, July 16th. Finally, Zacks Research upgraded shares of Bank of New York Mellon from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 22nd.

Get Our Latest Stock Analysis on BNY

Bank of New York Mellon Stock Down 0.5%

BNY stock opened at $161.73 on Tuesday. The company has a market capitalization of $109.73 billion, a price-to-earnings ratio of 18.83, a price-to-earnings-growth ratio of 1.15 and a beta of 1.06. The business’s 50 day moving average price is $156.03 and its two-hundred day moving average price is $138.38. Bank of New York Mellon has a fifty-two week low of $102.63 and a fifty-two week high of $165.68. 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 (NYSE:BNYGet Free Report) last announced its quarterly earnings data on Wednesday, July 15th. The bank reported $2.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.16 by $0.30. The business 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%.The firm’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.93 earnings per share. As a group, analysts forecast that Bank of New York Mellon will post 9.26 earnings per share for the current fiscal year.

Insider Activity at Bank of New York Mellon

In related news, CFO Dermot Mcdonogh sold 31,800 shares of Bank of New York Mellon stock in a transaction 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 Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Jose Minaya sold 3,520 shares of the firm’s stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $162.64, for a total value of $572,492.80. Following the completion of the transaction, the vice president directly owned 180,344 shares in the company, valued at $29,331,148.16. The trade was a 1.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.17% of the company’s stock.

Institutional Trading of Bank of New York Mellon

Several large investors have recently added to or reduced their stakes in the business. Abound Financial LLC bought a new stake in shares of Bank of New York Mellon during the 4th quarter valued at $25,000. MCF Advisors LLC grew its holdings in Bank of New York Mellon by 74.8% during the fourth quarter. MCF Advisors LLC now owns 236 shares of the bank’s stock valued at $27,000 after purchasing an additional 101 shares during the period. Luken Investment Analytics LLC bought a new position in shares of Bank of New York Mellon in the second quarter worth about $27,000. Burnham & Co LLC purchased a new position in shares of Bank of New York Mellon during the 2nd quarter valued at about $29,000. Finally, EFG International AG bought a new position in shares of Bank of New York Mellon during the 2nd quarter valued at approximately $29,000. 85.31% of the stock is currently owned by institutional investors.

About Bank of New York Mellon

(Get Free Report)

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.

Recommended Stories

Analyst Recommendations for Bank of New York Mellon (NYSE:BNY)

Receive News & Ratings for Bank of New York Mellon Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bank of New York Mellon and related companies with MarketBeat.com's FREE daily email newsletter.