Jefferies Financial Group Raises Bank of New York Mellon (NYSE:BK) Price Target to $68.00

Bank of New York Mellon (NYSE:BK) had its target price raised by investment analysts at Jefferies Financial Group from $67.00 to $68.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the bank’s stock. Jefferies Financial Group’s price objective would indicate a potential upside of 22.70% from the stock’s previous close.

Several other equities research analysts have also recently weighed in on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $58.00 price target on shares of Bank of New York Mellon in a research report on Wednesday, March 27th. Bank of America upped their price target on shares of Bank of New York Mellon from $64.00 to $66.00 and gave the stock a “buy” rating in a research report on Wednesday. Evercore ISI upped their price target on shares of Bank of New York Mellon from $57.00 to $61.00 and gave the stock an “in-line” rating in a research report on Thursday, April 4th. Citigroup upped their price target on shares of Bank of New York Mellon from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, February 14th. Finally, UBS Group upped their price target on shares of Bank of New York Mellon from $54.00 to $62.00 and gave the stock a “buy” rating in a research report on Tuesday, January 9th. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $59.15.

Bank of New York Mellon Trading Up 1.8 %

NYSE:BK traded up $0.96 during mid-day trading on Thursday, hitting $55.42. 766,583 shares of the stock traded hands, compared to its average volume of 3,981,984. The stock has a market capitalization of $41.72 billion, a price-to-earnings ratio of 13.49, a PEG ratio of 1.15 and a beta of 1.12. Bank of New York Mellon has a 52 week low of $39.65 and a 52 week high of $58.28. The firm’s 50 day moving average is $55.73 and its two-hundred day moving average is $51.10. The company has a quick ratio of 0.72, a current ratio of 0.71 and a debt-to-equity ratio of 0.90.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings results on Tuesday, April 16th. The bank reported $1.29 EPS for the quarter, beating the consensus estimate of $1.19 by $0.10. The company had revenue of $4.53 billion for the quarter, compared to the consensus estimate of $4.39 billion. Bank of New York Mellon had a net margin of 9.48% and a return on equity of 11.80%. The firm’s revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.13 EPS. On average, equities research analysts predict that Bank of New York Mellon will post 5.35 earnings per share for the current year.

Insider Transactions at Bank of New York Mellon

In other news, VP Catherine Keating sold 4,498 shares of the firm’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $54.81, for a total value of $246,535.38. Following the transaction, the vice president now directly owns 123,490 shares of the company’s stock, valued at $6,768,486.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.14% of the company’s stock.

Institutional Investors Weigh In On Bank of New York Mellon

Hedge funds and other institutional investors have recently bought and sold shares of the company. Quent Capital LLC increased its position in shares of Bank of New York Mellon by 3.8% during the fourth quarter. Quent Capital LLC now owns 5,033 shares of the bank’s stock valued at $262,000 after acquiring an additional 182 shares during the last quarter. Hartford Financial Management Inc. increased its position in shares of Bank of New York Mellon by 41.4% during the fourth quarter. Hartford Financial Management Inc. now owns 625 shares of the bank’s stock valued at $33,000 after acquiring an additional 183 shares during the last quarter. Vivaldi Capital Management LP increased its position in shares of Bank of New York Mellon by 3.3% during the fourth quarter. Vivaldi Capital Management LP now owns 6,015 shares of the bank’s stock valued at $324,000 after acquiring an additional 192 shares during the last quarter. Certuity LLC increased its position in shares of Bank of New York Mellon by 2.3% during the fourth quarter. Certuity LLC now owns 8,972 shares of the bank’s stock valued at $467,000 after acquiring an additional 205 shares during the last quarter. Finally, Choreo LLC grew its holdings in shares of Bank of New York Mellon by 1.8% in the fourth quarter. Choreo LLC now owns 11,903 shares of the bank’s stock valued at $620,000 after purchasing an additional 208 shares in the last quarter. 85.31% of the stock is currently 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.