Bank Of New York Mellon Corporation (The) (NYSE:BK)‘s stock had its “hold” rating reiterated by analysts at Jefferies Group LLC in a note issued to investors on Friday. They presently have a $56.00 price target on the bank’s stock. Jefferies Group LLC’s price objective points to a potential upside of 8.61% from the company’s current price.

Other equities research analysts have also issued reports about the stock. BidaskClub raised shares of Bank Of New York Mellon Corporation (The) from a “hold” rating to a “buy” rating in a report on Sunday, August 6th. Buckingham Research reissued a “neutral” rating and set a $57.00 price objective (up from $52.00) on shares of Bank Of New York Mellon Corporation (The) in a report on Monday, July 10th. Zacks Investment Research raised shares of Bank Of New York Mellon Corporation (The) from a “hold” rating to a “buy” rating and set a $60.00 price objective on the stock in a report on Monday, July 24th. Bank of America Corporation set a $49.00 price objective on shares of Bank Of New York Mellon Corporation (The) and gave the company a “sell” rating in a report on Saturday, May 27th. Finally, Wells Fargo & Company began coverage on shares of Bank Of New York Mellon Corporation (The) in a report on Wednesday, August 9th. They set a “market perform” rating and a $55.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $53.82.

Shares of Bank Of New York Mellon Corporation (NYSE:BK) traded up 0.84% during mid-day trading on Friday, reaching $51.56. The company’s stock had a trading volume of 5,083,264 shares. The firm has a market cap of $53.27 billion, a PE ratio of 15.29 and a beta of 1.14. The firm’s 50 day moving average is $52.43 and its 200 day moving average is $49.53. Bank Of New York Mellon Corporation has a one year low of $38.68 and a one year high of $54.59.

Bank Of New York Mellon Corporation (The) (NYSE:BK) last issued its quarterly earnings results on Thursday, July 20th. The bank reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.04. The business had revenue of $3.96 billion for the quarter, compared to the consensus estimate of $3.91 billion. Bank Of New York Mellon Corporation (The) had a return on equity of 10.35% and a net margin of 23.35%. The business’s quarterly revenue was up .4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.76 earnings per share. On average, equities analysts anticipate that Bank Of New York Mellon Corporation will post $3.53 earnings per share for the current fiscal year.

Bank Of New York Mellon Corporation (The) announced that its board has initiated a stock repurchase program on Wednesday, June 28th that permits the company to buyback $3.10 billion in outstanding shares. This buyback authorization permits the bank to purchase up to 5.9% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

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In other news, CEO Charles W. Scharf bought 186,900 shares of the stock in a transaction dated Tuesday, August 8th. The shares were acquired at an average cost of $53.82 per share, with a total value of $10,058,958.00. Following the purchase, the chief executive officer now directly owns 73,640 shares in the company, valued at approximately $3,963,304.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Vice Chairman Brian T. Shea sold 44,250 shares of the stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $52.90, for a total transaction of $2,340,825.00. Following the sale, the insider now directly owns 204,043 shares in the company, valued at $10,793,874.70. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,931,137 shares of company stock worth $581,058,723. Corporate insiders own 3.60% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. Montrusco Bolton Investments boosted its stake in shares of Bank Of New York Mellon Corporation (The) by 21.2% during the 4th quarter. Montrusco Bolton Investments now owns 349,835 shares of the bank’s stock worth $14,409,000 after acquiring an additional 61,195 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Bank Of New York Mellon Corporation (The) by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 60,106,066 shares of the bank’s stock worth $2,477,571,000 after acquiring an additional 774,112 shares in the last quarter. Natixis purchased a new stake in shares of Bank Of New York Mellon Corporation (The) during the 1st quarter worth about $35,850,000. MUFG Americas boosted its stake in shares of Bank Of New York Mellon Corporation (The) by 17.2% during the 3rd quarter. MUFG Americas now owns 102,818 shares of the bank’s stock worth $4,025,000 after acquiring an additional 15,096 shares in the last quarter. Finally, Northstar Wealth Partners LLC purchased a new stake in shares of Bank Of New York Mellon Corporation (The) during the 1st quarter worth about $546,000. 81.80% 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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