StockNews.com Downgrades Bank of New York Mellon (NYSE:BK) to Hold

Bank of New York Mellon (NYSE:BK) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Monday.

Several other equities research analysts have also recently weighed in on the stock. UBS Group boosted their price target on shares of Bank of New York Mellon from $73.00 to $82.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Morgan Stanley increased their price target on shares of Bank of New York Mellon from $72.00 to $78.00 and gave the company an “equal weight” rating in a report on Monday, September 30th. Evercore ISI lifted their price target on Bank of New York Mellon from $66.00 to $77.00 and gave the stock an “in-line” rating in a research report on Monday, October 14th. Deutsche Bank Aktiengesellschaft upped their price objective on Bank of New York Mellon from $82.00 to $85.00 and gave the company a “buy” rating in a research report on Monday. Finally, The Goldman Sachs Group lifted their target price 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. Six 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 has a consensus rating of “Moderate Buy” and an average price target of $77.08.

Bank of New York Mellon Stock Down 0.9 %

BK opened at $77.94 on Monday. The company has a market capitalization of $56.67 billion, a PE ratio of 16.94, a price-to-earnings-growth ratio of 0.90 and a beta of 1.07. The firm has a 50-day simple moving average of $73.16 and a two-hundred day simple moving average of $65.43. 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 has a 52 week low of $45.22 and a 52 week high of $80.29.

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

Insider Transactions at Bank of New York Mellon

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

Institutional Trading of Bank of New York Mellon

A number of hedge funds have recently added to or reduced their stakes in the business. McClarren Financial Advisors Inc. raised its holdings in shares of Bank of New York Mellon by 586.4% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 405 shares of the bank’s stock valued at $29,000 after purchasing an additional 346 shares in the last quarter. Olistico Wealth LLC purchased a new position in Bank of New York Mellon during the second quarter valued at approximately $30,000. Clearstead Trust LLC bought a new position in Bank of New York Mellon in the second quarter worth approximately $32,000. Family Firm Inc. bought a new stake in Bank of New York Mellon during the 2nd quarter valued at $40,000. Finally, Fortitude Family Office LLC increased its holdings in shares of Bank of New York Mellon by 130.6% in the 3rd quarter. Fortitude Family Office LLC now owns 611 shares of the bank’s stock valued at $44,000 after acquiring an additional 346 shares during the period. 85.31% of the stock is owned by hedge funds and other 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.