Bank of New York Mellon Corp (NYSE:BK) has been assigned a $49.00 price objective by research analysts at Bank of America Corp in a research note issued on Saturday. The firm currently has a “sell” rating on the bank’s stock. Bank of America Corp’s price objective would indicate a potential upside of 3.35% from the company’s current price.

Other analysts also recently issued reports about the company. Evercore ISI downgraded Bank of New York Mellon Corp from a “hold” rating to an “underperform” rating and set a $48.00 target price for the company. in a research note on Friday, March 3rd. Rafferty Capital Markets reaffirmed a “buy” rating and issued a $53.00 target price on shares of Bank of New York Mellon Corp in a research note on Tuesday, April 25th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $52.00 target price on shares of Bank of New York Mellon Corp in a research note on Wednesday, May 17th. Deutsche Bank AG cut their target price on Bank of New York Mellon Corp from $55.00 to $54.00 and set a “buy” rating for the company in a research note on Thursday, April 6th. Finally, Keefe, Bruyette & Woods set a $49.00 target price on Bank of New York Mellon Corp and gave the stock a “hold” rating in a research note on Tuesday, April 4th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company. The company has an average rating of “Hold” and an average price target of $50.93.

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

Bank of New York Mellon Corp (NYSE:BK) traded up 0.06% during midday trading on Friday, hitting $47.41. 3,552,530 shares of the stock traded hands. Bank of New York Mellon Corp has a 52 week low of $35.72 and a 52 week high of $49.54. The stock has a market capitalization of $49.30 billion, a P/E ratio of 14.58 and a beta of 1.32. The stock’s 50-day moving average price is $47.06 and its 200-day moving average price is $47.03.

Bank of New York Mellon Corp (NYSE:BK) last announced its quarterly earnings data on Thursday, April 20th. The bank reported $0.80 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.80. The company had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.83 billion. Bank of New York Mellon Corp had a return on equity of 9.74% and a net margin of 22.64%. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.74 EPS. Equities research analysts expect that Bank of New York Mellon Corp will post $3.51 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, May 12th. Shareholders of record on Tuesday, May 2nd were given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.60%. The ex-dividend date of this dividend was Friday, April 28th. Bank of New York Mellon Corp’s dividend payout ratio is currently 24.05%.

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In other Bank of New York Mellon Corp news, EVP J Kevin Mccarthy sold 10,000 shares of Bank of New York Mellon Corp stock in a transaction dated Monday, April 24th. The stock was sold at an average price of $47.64, for a total value of $476,400.00. Following the completion of the transaction, the executive vice president now directly owns 100,487 shares of the company’s stock, valued at approximately $4,787,200.68. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Vice Chairman Thomas P. Gibbons sold 102,174 shares of Bank of New York Mellon Corp stock in a transaction dated Monday, April 24th. The shares were sold at an average price of $47.71, for a total value of $4,874,721.54. Following the completion of the transaction, the insider now directly owns 271,416 shares of the company’s stock, valued at $12,949,257.36. The disclosure for this sale can be found here. Insiders own 3.40% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in BK. Bronfman E.L. Rothschild L.P. increased its position in Bank of New York Mellon Corp by 4.4% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,197 shares of the bank’s stock valued at $104,000 after buying an additional 92 shares in the last quarter. Advisory Services Network LLC bought a new position in shares of Bank of New York Mellon Corp during the first quarter valued at about $111,000. Hudock Capital Group LLC boosted its position in shares of Bank of New York Mellon Corp by 0.3% in the first quarter. Hudock Capital Group LLC now owns 2,549 shares of the bank’s stock valued at $120,000 after buying an additional 7 shares during the last quarter. QCI Asset Management Inc. NY bought a new position in shares of Bank of New York Mellon Corp during the first quarter valued at about $125,000. Finally, Harfst & Associates Inc. bought a new position in shares of Bank of New York Mellon Corp during the first quarter valued at about $170,000. 82.83% of the stock is owned by institutional investors.

Bank of New York Mellon Corp 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.

12 Month Chart for NYSE:BK

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