Bank of New York Mellon (NYSE:BK) PT Raised to $80.00 at The Goldman Sachs Group

Bank of New York Mellon (NYSE:BK) had its price target upped by analysts at The Goldman Sachs Group from $74.00 to $80.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the bank’s stock. The Goldman Sachs Group’s price target would suggest a potential upside of 11.59% from the stock’s current price.

BK has been the subject of several other reports. Barclays lifted their price target on shares of Bank of New York Mellon from $68.00 to $75.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Citigroup boosted their target price on shares of Bank of New York Mellon from $65.00 to $70.00 and gave the stock a “neutral” rating in a research note on Thursday, September 19th. Evercore ISI lifted their price target on shares of Bank of New York Mellon from $61.00 to $66.00 and gave the stock an “in-line” rating in a research report on Monday, July 15th. Deutsche Bank Aktiengesellschaft upgraded shares of Bank of New York Mellon from a “hold” rating to a “buy” rating and lifted their price target for the stock from $66.00 to $80.00 in a research report on Monday, September 23rd. Finally, Morgan Stanley lifted their price target on shares of Bank of New York Mellon from $65.00 to $72.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 30th. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Bank of New York Mellon currently has a consensus rating of “Moderate Buy” and an average price target of $68.88.

Bank of New York Mellon Stock Performance

Shares of NYSE BK opened at $71.69 on Thursday. Bank of New York Mellon has a 12 month low of $39.66 and a 12 month high of $73.19. The company has a market cap of $53.61 billion, a P/E ratio of 16.59, a P/E/G ratio of 1.24 and a beta of 1.08. The business’s 50 day moving average is $66.56 and its two-hundred day moving average is $61.10. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.85.

Bank of New York Mellon (NYSE:BK) last released its earnings results on Friday, July 12th. The bank reported $1.51 EPS for the quarter, beating the consensus estimate of $1.43 by $0.08. Bank of New York Mellon had a net margin of 9.40% and a return on equity of 11.87%. The firm had revenue of $4.60 billion during the quarter, compared to analysts’ expectations of $4.53 billion. During the same period in the prior year, the company earned $1.38 EPS. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. On average, equities analysts expect that Bank of New York Mellon will post 5.63 EPS for the current year.

Insider Activity at Bank of New York Mellon

In other Bank of New York Mellon news, VP Hanneke Smits sold 15,000 shares of Bank of New York Mellon stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $64.11, for a total value of $961,650.00. Following the transaction, the vice president now owns 173,930 shares of the company’s stock, valued at $11,150,652.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.14% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Commerzbank Aktiengesellschaft FI lifted its stake in Bank of New York Mellon by 4.5% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 3,847 shares of the bank’s stock valued at $231,000 after buying an additional 165 shares in the last quarter. Lake Street Advisors Group LLC lifted its position in shares of Bank of New York Mellon by 3.8% in the second quarter. Lake Street Advisors Group LLC now owns 4,698 shares of the bank’s stock worth $281,000 after purchasing an additional 171 shares in the last quarter. Greenleaf Trust lifted its position in shares of Bank of New York Mellon by 0.7% in the first quarter. Greenleaf Trust now owns 28,349 shares of the bank’s stock worth $1,633,000 after purchasing an additional 187 shares in the last quarter. 1858 Wealth Management LLC lifted its position in shares of Bank of New York Mellon by 4.0% in the second quarter. 1858 Wealth Management LLC now owns 4,866 shares of the bank’s stock worth $291,000 after purchasing an additional 188 shares in the last quarter. Finally, Semmax Financial Advisors Inc. lifted its position in shares of Bank of New York Mellon by 1.9% in the first quarter. Semmax Financial Advisors Inc. now owns 10,214 shares of the bank’s stock worth $591,000 after purchasing an additional 189 shares in the last quarter. Institutional investors own 85.31% of the company’s stock.

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.