Bank Of New York Mellon’s (BK) “Hold” Rating Reiterated at Sandler O’Neill

Bank Of New York Mellon (NYSE:BK)‘s stock had its “hold” rating reaffirmed by research analysts at Sandler O’Neill in a research report issued on Friday. They currently have a $58.00 target price on the bank’s stock. Sandler O’Neill’s price objective suggests a potential upside of 2.46% from the company’s previous close.

Several other brokerages have also issued reports on BK. Zacks Investment Research lowered Bank Of New York Mellon from a “hold” rating to a “sell” rating in a research note on Thursday, September 21st. Citigroup upgraded Bank Of New York Mellon from a “neutral” rating to a “buy” rating and set a $56.00 price target on the stock in a research note on Wednesday, January 10th. Vining Sparks reiterated a “buy” rating and issued a $62.00 price target on shares of Bank Of New York Mellon in a research note on Monday, January 8th. Jefferies Group reiterated a “hold” rating on shares of Bank Of New York Mellon in a research note on Friday, October 20th. Finally, Credit Suisse Group reiterated a “hold” rating and issued a $55.00 price target on shares of Bank Of New York Mellon in a research note on Tuesday, October 10th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $56.61.

Bank Of New York Mellon (NYSE:BK) opened at $56.61 on Friday. The firm has a market capitalization of $57,969.88, a price-to-earnings ratio of 15.18, a price-to-earnings-growth ratio of 1.78 and a beta of 1.23. The company has a quick ratio of 0.69, a current ratio of 0.70 and a debt-to-equity ratio of 0.82. Bank Of New York Mellon has a fifty-two week low of $43.85 and a fifty-two week high of $58.99.

Bank Of New York Mellon (NYSE:BK) last announced its quarterly earnings data on Thursday, January 18th. The bank reported $0.91 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.91. The firm had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $4.01 billion. Bank Of New York Mellon had a return on equity of 10.69% and a net margin of 24.72%. The company’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.77 EPS. equities research analysts anticipate that Bank Of New York Mellon will post 4.15 earnings per share for the current fiscal year.

In related news, Vice Chairman Brian T. Shea sold 22,228 shares of the business’s stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $51.26, for a total transaction of $1,139,407.28. Following the sale, the insider now owns 181,815 shares in the company, valued at approximately $9,319,836.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Trian Fund Management, L.P. sold 5,798,725 shares of the business’s stock in a transaction on Tuesday, October 24th. The stock was sold at an average price of $52.42, for a total value of $303,969,164.50. The disclosure for this sale can be found here. Insiders have sold a total of 6,677,177 shares of company stock worth $350,171,492 in the last 90 days. 3.60% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Invictus RG bought a new stake in shares of Bank Of New York Mellon in the 3rd quarter valued at about $102,000. Rowland & Co. Investment Counsel ADV bought a new stake in shares of Bank Of New York Mellon in the 4th quarter valued at about $124,000. Advisory Services Network LLC grew its position in shares of Bank Of New York Mellon by 15.5% in the 2nd quarter. Advisory Services Network LLC now owns 2,712 shares of the bank’s stock valued at $138,000 after buying an additional 363 shares during the last quarter. Horan Capital Advisors LLC. bought a new stake in shares of Bank Of New York Mellon in the 3rd quarter valued at about $139,000. Finally, Sawyer & Company Inc bought a new stake in shares of Bank Of New York Mellon in the 4th quarter valued at about $164,000. Hedge funds and other institutional investors own 82.93% of the company’s stock.

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Bank Of New York Mellon 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 (NYSE:BK)

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