Bank Of New York Mellon Corporation (The) (NYSE:BK)‘s stock had its “hold” rating reiterated by research analysts at Jefferies Group LLC in a research report issued on Tuesday.

Several other brokerages also recently issued reports on BK. Rafferty Capital Markets reiterated a “buy” rating and set a $53.00 price target on shares of Bank Of New York Mellon Corporation (The) in a report on Tuesday, April 25th. Bank of America Corporation reiterated an “underperform” rating and set a $49.00 price target on shares of Bank Of New York Mellon Corporation (The) in a report on Friday, May 26th. Royal Bank Of Canada reiterated a “hold” rating and set a $52.00 price target on shares of Bank Of New York Mellon Corporation (The) in a report on Tuesday, April 4th. BidaskClub upgraded shares of Bank Of New York Mellon Corporation (The) from a “hold” rating to a “buy” rating in a report on Tuesday, July 4th. Finally, Zacks Investment Research downgraded shares of Bank Of New York Mellon Corporation (The) from a “hold” rating to a “sell” rating in a report on Wednesday, June 21st. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company. The company has an average rating of “Hold” and an average target price of $51.27.

Bank Of New York Mellon Corporation (BK) opened at 51.46 on Tuesday. The company has a market capitalization of $53.51 billion, a price-to-earnings ratio of 15.83 and a beta of 1.14. Bank Of New York Mellon Corporation has a 12 month low of $38.11 and a 12 month high of $52.34. The firm has a 50-day moving average price of $48.27 and a 200-day moving average price of $47.32.

Bank Of New York Mellon Corporation (The) (NYSE:BK) last announced its quarterly earnings results on Thursday, April 20th. The bank reported $0.80 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.80. The company had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $3.83 billion. Bank Of New York Mellon Corporation (The) had a net margin of 23.12% and a return on equity of 9.97%. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.74 earnings per share. On average, equities analysts anticipate that Bank Of New York Mellon Corporation will post $3.51 earnings per share for the current fiscal year.

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In other Bank Of New York Mellon Corporation (The) news, EVP J Kevin Mccarthy sold 10,000 shares of the company’s stock in a transaction on Monday, April 24th. The shares were sold at an average price of $47.64, for a total transaction of $476,400.00. Following the sale, the executive vice president now owns 100,487 shares of the company’s stock, valued at $4,787,200.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Vice Chairman Thomas P. Gibbons sold 102,174 shares of the company’s stock in a transaction on Monday, April 24th. The shares were sold at an average price of $47.71, for a total transaction of $4,874,721.54. Following the sale, the insider now directly owns 271,416 shares in the company, valued at approximately $12,949,257.36. The disclosure for this sale can be found here. Corporate insiders own 3.60% of the company’s stock.

A number of hedge funds have recently modified their holdings of the stock. Northstar Wealth Partners LLC purchased a new stake in shares of Bank Of New York Mellon Corporation (The) during the first quarter worth approximately $546,000. Dodge & Cox purchased a new stake in shares of Bank Of New York Mellon Corporation (The) during the fourth quarter worth approximately $2,352,702,000. Community Bank & Trust Waco Texas boosted its position in Bank Of New York Mellon Corporation (The) by 5.3% in the first quarter. Community Bank & Trust Waco Texas now owns 17,182 shares of the bank’s stock worth $812,000 after buying an additional 863 shares during the period. Assenagon Asset Management S.A. bought a new position in Bank Of New York Mellon Corporation (The) during the fourth quarter worth about $8,576,000. Finally, BTIM Corp. bought a new position in Bank Of New York Mellon Corporation (The) during the first quarter worth about $219,000. 82.03% of the stock is currently owned by institutional investors and hedge funds.

Bank Of New York Mellon Corporation (The) 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.

Analyst Recommendations for Bank Of New York Mellon Corporation (The) (NYSE:BK)

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