Bank of New York Mellon (NYSE:BK) Stock Rating Upgraded by Deutsche Bank Aktiengesellschaft

Bank of New York Mellon (NYSE:BK) was upgraded by research analysts at Deutsche Bank Aktiengesellschaft from a “hold” rating to a “buy” rating in a research report issued on Monday, MarketBeat Ratings reports. The firm currently has a $80.00 price objective on the bank’s stock, up from their prior price objective of $66.00. Deutsche Bank Aktiengesellschaft’s price objective indicates a potential upside of 11.39% from the company’s previous close.

Other equities research analysts have also issued reports about the stock. Citigroup increased their target price on shares of Bank of New York Mellon from $65.00 to $70.00 and gave the stock a “neutral” rating in a research note on Thursday, September 19th. Morgan Stanley increased their price target on Bank of New York Mellon from $65.00 to $72.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 30th. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $75.00 price objective (up from $70.00) on shares of Bank of New York Mellon in a report on Monday, July 15th. Evercore ISI upped their target price on Bank of New York Mellon from $61.00 to $66.00 and gave the stock an “in-line” rating in a research note on Monday, July 15th. Finally, Barclays lifted their price target on shares of Bank of New York Mellon from $68.00 to $75.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Bank of New York Mellon has a consensus rating of “Moderate Buy” and a consensus price target of $67.86.

Bank of New York Mellon Price Performance

Shares of NYSE BK opened at $71.82 on Monday. Bank of New York Mellon has a 52 week low of $39.66 and a 52 week high of $73.19. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.85. The firm has a market cap of $53.71 billion, a P/E ratio of 16.63, a P/E/G ratio of 1.17 and a beta of 1.08. The business’s 50 day moving average price is $66.24 and its 200 day moving average price is $60.95.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings results on Friday, July 12th. The bank reported $1.51 EPS for the quarter, beating the consensus estimate of $1.43 by $0.08. The company had revenue of $4.60 billion for the quarter, compared to analyst estimates of $4.53 billion. Bank of New York Mellon had a net margin of 9.40% and a return on equity of 11.87%. The firm’s revenue was up 2.1% on a year-over-year basis. During the same period in the prior year, the company earned $1.38 earnings per share. On average, sell-side analysts expect that Bank of New York Mellon will post 5.63 earnings per share for the current year.

Insiders Place Their Bets

In related news, VP Hanneke Smits sold 15,000 shares of the business’s stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $64.11, for a total value of $961,650.00. Following the sale, the vice president now owns 173,930 shares in the company, valued at approximately $11,150,652.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.14% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Bank of New York Mellon

Hedge funds have recently bought and sold shares of the stock. Gilbert & Cook Inc. raised its holdings in shares of Bank of New York Mellon by 4.7% in the 4th quarter. Gilbert & Cook Inc. now owns 9,361 shares of the bank’s stock valued at $487,000 after purchasing an additional 419 shares in the last quarter. Ontario Teachers Pension Plan Board acquired a new position in shares of Bank of New York Mellon during the 4th quarter worth about $397,000. US Bancorp DE increased its holdings in shares of Bank of New York Mellon by 17.4% in the 4th quarter. US Bancorp DE now owns 201,989 shares of the bank’s stock valued at $10,514,000 after acquiring an additional 29,899 shares during the last quarter. Orion Portfolio Solutions LLC raised its position in shares of Bank of New York Mellon by 18.7% during the 4th quarter. Orion Portfolio Solutions LLC now owns 45,047 shares of the bank’s stock worth $2,374,000 after acquiring an additional 7,096 shares in the last quarter. Finally, Glassman Wealth Services lifted its stake in Bank of New York Mellon by 42.8% during the fourth quarter. Glassman Wealth Services now owns 1,972 shares of the bank’s stock worth $103,000 after purchasing an additional 591 shares during the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Bank of New York Mellon Company Profile

The Bank of New York Mellon Corporation provides a range of financial products and services in the United States and internationally. The company operates through Securities Services, Market and Wealth Services, Investment and Wealth Management, and other segments. The Securities Services segment offers custody, trust and depositary, accounting, exchange-traded funds, middle-office solutions, transfer agency, services for private equity and real estate funds, foreign exchange, securities lending, liquidity/lending services, and data analytics.