Bank of New York Mellon (NYSE:BNY) Price Target Raised to $149.00 at JPMorgan Chase & Co.

Bank of New York Mellon (NYSE:BNY) had its price target upped by JPMorgan Chase & Co. from $140.00 to $149.00 in a report issued on Monday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the bank’s stock.

BNY has been the topic of a number of other research reports. Keefe, Bruyette & Woods raised their price objective on shares of Bank of New York Mellon from $143.00 to $150.00 and gave the stock an “outperform” rating in a report on Friday, April 17th. Morgan Stanley lifted their price target on shares of Bank of New York Mellon from $135.00 to $139.00 and gave the stock an “equal weight” rating in a research note on Friday, April 17th. Barclays boosted their price target on shares of Bank of New York Mellon from $143.00 to $149.00 and gave the company an “overweight” rating in a research report on Friday, April 17th. Royal Bank Of Canada raised their price objective on Bank of New York Mellon from $130.00 to $142.00 and gave the stock a “sector perform” rating in a report on Friday, April 17th. Finally, Weiss Ratings raised Bank of New York Mellon from a “buy (a-)” rating to a “buy (a)” rating in a report on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, Bank of New York Mellon presently has an average rating of “Moderate Buy” and an average price target of $143.46.

Bank of New York Mellon Trading Up 0.5%

NYSE:BNY opened at $150.68 on Monday. Bank of New York Mellon has a 1 year low of $92.47 and a 1 year high of $151.21. The stock has a market cap of $103.42 billion, a P/E ratio of 18.67, a P/E/G ratio of 1.06 and a beta of 1.07. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.75 and a current ratio of 0.75. The stock has a 50-day simple moving average of $139.71 and a 200-day simple moving average of $127.17.

Bank of New York Mellon (NYSE:BNY) last posted its earnings results on Thursday, April 16th. The bank reported $2.25 earnings per share for the quarter, topping the consensus estimate of $1.94 by $0.31. The firm had revenue of $5.41 billion during the quarter, compared to analysts’ expectations of $5.14 billion. Bank of New York Mellon had a return on equity of 15.29% and a net margin of 14.60%.The firm’s revenue was up 12.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.58 earnings per share. As a group, analysts anticipate that Bank of New York Mellon will post 8.85 earnings per share for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 8th. Stockholders of record on Monday, April 27th were issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend was Monday, April 27th. Bank of New York Mellon’s dividend payout ratio is presently 26.27%.

Insider Buying and Selling at Bank of New York Mellon

In related news, EVP Alejandro Perez sold 12,504 shares of the firm’s stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $137.01, for a total transaction of $1,713,173.04. Following the transaction, the executive vice president owned 62,613 shares of the company’s stock, valued at $8,578,607.13. This trade represents a 16.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP J Kevin Mccarthy sold 30,000 shares of the business’s stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $136.50, for a total value of $4,095,000.00. Following the completion of the transaction, the executive vice president owned 50,238 shares in the company, valued at $6,857,487. This trade represents a 37.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 48,091 shares of company stock worth $6,568,423 over the last three months. 0.17% of the stock is currently owned by corporate insiders.

Institutional Trading of Bank of New York Mellon

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of Bank of New York Mellon by 9.4% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 12,045 shares of the bank’s stock valued at $1,489,000 after buying an additional 1,031 shares during the period. Janney Montgomery Scott LLC raised its position in Bank of New York Mellon by 7.3% in the first quarter. Janney Montgomery Scott LLC now owns 148,115 shares of the bank’s stock worth $17,571,000 after acquiring an additional 10,107 shares in the last quarter. Rockefeller Capital Management L.P. lifted its holdings in Bank of New York Mellon by 17.9% in the fourth quarter. Rockefeller Capital Management L.P. now owns 141,899 shares of the bank’s stock valued at $16,473,000 after acquiring an additional 21,506 shares during the period. World Investment Advisors boosted its position in shares of Bank of New York Mellon by 14.4% during the 4th quarter. World Investment Advisors now owns 72,285 shares of the bank’s stock worth $8,391,000 after purchasing an additional 9,105 shares in the last quarter. Finally, Advisortrust Partners LLC purchased a new stake in shares of Bank of New York Mellon during the 4th quarter worth $207,000. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Company Profile

BNY, formerly known as BNY Mellon, is a global financial services company headquartered in New York City. Formed in 2007 through the merger of the Bank of New York and Mellon Financial Corporation, BNY traces its roots back to 1784, making it one of the oldest banking institutions in the United States. It was also the first company listed on the New York Stock Exchange.

BNY operates at the center of the world’s capital markets, partnering with clients to help them operate more efficiently and accelerate growth.