Bank Of New York Mellon (NYSE:BK) was upgraded by investment analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday.

BK has been the subject of a number of other reports. Royal Bank Of Canada reiterated a “hold” rating and set a $58.00 price target on shares of Bank Of New York Mellon in a report on Wednesday, November 15th. Credit Suisse Group restated a “hold” rating and issued a $55.00 target price on shares of Bank Of New York Mellon in a research note on Tuesday, October 10th. Morgan Stanley upped their target price on Bank Of New York Mellon from $55.00 to $60.00 and gave the company an “equal weight” rating in a research note on Friday, October 20th. Jefferies Group restated a “hold” rating and issued a $56.00 target price on shares of Bank Of New York Mellon in a research note on Friday, September 15th. Finally, Goldman Sachs Group restated a “buy” rating and issued a $58.00 target price (up from $52.85) on shares of Bank Of New York Mellon in a research note on Friday, October 20th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $55.28.

Shares of Bank Of New York Mellon (NYSE BK) traded down $0.54 during mid-day trading on Tuesday, hitting $54.43. The stock had a trading volume of 4,161,852 shares, compared to its average volume of 4,595,021. Bank Of New York Mellon has a one year low of $43.85 and a one year high of $55.40. The firm has a market capitalization of $55,758.00, a price-to-earnings ratio of 15.69, a PEG ratio of 1.98 and a beta of 1.22. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.85.

Bank Of New York Mellon (NYSE:BK) last issued its quarterly earnings results on Thursday, October 19th. The bank reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.01. Bank Of New York Mellon had a return on equity of 10.51% and a net margin of 23.14%. The company had revenue of $4.02 billion during the quarter, compared to analyst estimates of $3.99 billion. During the same period in the previous year, the company earned $0.90 earnings per share. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. equities analysts expect that Bank Of New York Mellon will post 3.54 EPS for the current fiscal year.

In other Bank Of New York Mellon news, Vice Chairman Brian T. Shea sold 22,228 shares of the company’s stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $51.26, for a total value of $1,139,407.28. Following the sale, the insider now directly owns 181,815 shares in the company, valued at $9,319,836.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Edward P. Garden sold 1,031,157 shares of the stock in a transaction on Friday, October 20th. The stock was sold at an average price of $53.13, for a total value of $54,785,371.41. The disclosure for this sale can be found here. Insiders sold 7,708,334 shares of company stock worth $404,956,863 over the last quarter. Company insiders own 3.60% of the company’s stock.

Several hedge funds have recently made changes to their positions in BK. Hudock Capital Group LLC lifted its stake in Bank Of New York Mellon by 0.3% in the second quarter. Hudock Capital Group LLC now owns 2,556 shares of the bank’s stock valued at $130,000 after buying an additional 7 shares during the period. Kistler Tiffany Companies LLC raised its position in shares of Bank Of New York Mellon by 0.3% during the second quarter. Kistler Tiffany Companies LLC now owns 4,154 shares of the bank’s stock worth $212,000 after purchasing an additional 12 shares during the period. CHICAGO TRUST Co NA raised its position in Bank Of New York Mellon by 0.5% in the 2nd quarter. CHICAGO TRUST Co NA now owns 6,029 shares of the bank’s stock valued at $307,000 after buying an additional 29 shares during the last quarter. First Bank & Trust raised its position in Bank Of New York Mellon by 1.1% in the 2nd quarter. First Bank & Trust now owns 4,800 shares of the bank’s stock valued at $245,000 after buying an additional 52 shares during the last quarter. Finally, Sullivan Bruyette Speros & Blaney LLC raised its position in Bank Of New York Mellon by 1.0% in the 2nd quarter. Sullivan Bruyette Speros & Blaney LLC now owns 7,060 shares of the bank’s stock valued at $360,000 after buying an additional 73 shares during the last quarter. Institutional investors own 82.83% of the company’s stock.

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About Bank Of New York Mellon

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

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