Bank Of New York Mellon Corporation (The) (BK) Given Average Recommendation of “Hold” by Brokerages

Shares of Bank Of New York Mellon Corporation (The) (NYSE:BK) have been given an average recommendation of “Hold” by the twenty analysts that are presently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, eleven have given a hold recommendation, six have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $54.88.

BK has been the topic of a number of research reports. Zacks Investment Research downgraded shares of Bank Of New York Mellon from a “buy” rating to a “hold” rating in a research note on Wednesday, October 11th. Royal Bank of Canada reissued a “hold” rating and issued a $58.00 target price on shares of Bank Of New York Mellon in a research note on Thursday, August 31st. UBS downgraded shares of Bank Of New York Mellon from a “buy” rating to a “neutral” rating and set a $56.00 target price on the stock. in a research note on Friday, September 8th. Goldman Sachs Group reissued a “buy” rating and issued a $58.00 target price (up previously from $52.85) on shares of Bank Of New York Mellon in a research note on Friday, October 20th. Finally, Jefferies Group reaffirmed a “hold” rating and set a $56.00 price target on shares of Bank Of New York Mellon in a research note on Friday, September 15th.

Bank Of New York Mellon (NYSE BK) traded down $0.36 during trading hours on Friday, reaching $54.02. 3,449,000 shares of the company’s stock were exchanged, compared to its average volume of 4,583,765. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.69 and a current ratio of 0.69. The stock has a market capitalization of $55,686.32, a P/E ratio of 15.67, a P/E/G ratio of 1.98 and a beta of 1.22. Bank Of New York Mellon has a 12 month low of $43.85 and a 12 month high of $55.40.

Bank Of New York Mellon (NYSE:BK) last issued its earnings results on Thursday, October 19th. The bank reported $0.94 EPS for the quarter, beating the Zacks’ consensus estimate of $0.93 by $0.01. Bank Of New York Mellon had a net margin of 23.14% and a return on equity of 10.51%. The business had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $3.99 billion. During the same quarter last year, the firm posted $0.90 EPS. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. research analysts anticipate that Bank Of New York Mellon will post 3.54 earnings per share for the current year.

In other Bank Of New York Mellon news, Chairman Gerald L. Hassell sold 24,280 shares of the firm’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $51.69, for a total transaction of $1,255,033.20. Following the completion of the transaction, the chairman now directly owns 857,899 shares of the company’s stock, valued at approximately $44,344,799.31. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Thomas P. Gibbons sold 38,152 shares of the firm’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $54.15, for a total transaction of $2,065,930.80. Following the transaction, the chief financial officer now directly owns 310,002 shares of the company’s stock, valued at $16,786,608.30. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,708,334 shares of company stock valued at $404,956,863. 3.60% of the stock is owned by company insiders.

Hedge funds have recently made changes to their positions in the business. Diamond Hill Capital Management Inc. acquired a new position in shares of Bank Of New York Mellon in the 2nd quarter valued at about $886,000. Longview Partners Guernsey LTD boosted its holdings in shares of Bank Of New York Mellon by 4.6% in the 2nd quarter. Longview Partners Guernsey LTD now owns 16,519,184 shares of the bank’s stock valued at $842,809,000 after buying an additional 726,898 shares during the period. NGAM Advisors L.P. lifted its position in Bank Of New York Mellon by 17.6% in the 2nd quarter. NGAM Advisors L.P. now owns 101,395 shares of the bank’s stock valued at $5,173,000 after purchasing an additional 15,200 shares during the last quarter. IBM Retirement Fund lifted its position in Bank Of New York Mellon by 111.0% in the 2nd quarter. IBM Retirement Fund now owns 24,654 shares of the bank’s stock valued at $1,406,000 after purchasing an additional 12,968 shares during the last quarter. Finally, Taylor Cottrill Erickson & Associates Inc. lifted its position in Bank Of New York Mellon by 5.1% in the 2nd quarter. Taylor Cottrill Erickson & Associates Inc. now owns 7,744 shares of the bank’s stock valued at $395,000 after purchasing an additional 377 shares during the last quarter. 83.01% of the stock is owned by institutional investors.

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Bank Of New York Mellon Company Profile

The Bank of New York Mellon Corporation is an investments company. The Company operates businesses through two segments: Investment Management and Investment Services. The Company also has an Other segment, which includes the leasing portfolio, corporate treasury activities (including its investment securities portfolio), derivatives and other trading, corporate and bank-owned life insurance and renewable energy investments, and business exits.

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