Morgan Stanley Issues Pessimistic Forecast for Bank of New York Mellon (NYSE:BK) Stock Price

Bank of New York Mellon (NYSE:BK) had its price objective decreased by stock analysts at Morgan Stanley from $99.00 to $98.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the bank’s stock. Morgan Stanley’s price target would suggest a potential upside of 16.80% from the stock’s current price.

Several other research firms have also weighed in on BK. Truist Financial increased their price target on shares of Bank of New York Mellon from $91.00 to $93.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Wells Fargo & Company raised their target price on Bank of New York Mellon from $86.00 to $96.00 and gave the stock an “equal weight” rating in a research report on Monday, March 3rd. Evercore ISI upped their price target on Bank of New York Mellon from $83.00 to $87.00 and gave the company an “in-line” rating in a research report on Tuesday. Wolfe Research lowered Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. Finally, UBS Group upped their price objective on shares of Bank of New York Mellon from $88.00 to $94.00 and gave the company a “buy” rating in a report on Tuesday, January 21st. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, Bank of New York Mellon presently has an average rating of “Moderate Buy” and a consensus price target of $90.07.

Bank of New York Mellon Stock Up 0.2 %

Shares of NYSE BK traded up $0.13 during trading on Wednesday, hitting $83.90. The stock had a trading volume of 687,956 shares, compared to its average volume of 3,888,952. The firm has a fifty day moving average of $85.33 and a two-hundred day moving average of $79.90. The company has a market capitalization of $60.24 billion, a PE ratio of 14.43, a PEG ratio of 0.97 and a beta of 1.06. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.69 and a quick ratio of 0.70. Bank of New York Mellon has a 12 month low of $52.64 and a 12 month high of $90.34.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings data on Wednesday, January 15th. The bank reported $1.72 EPS for the quarter, beating the consensus estimate of $1.54 by $0.18. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The firm had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.66 billion. During the same quarter last year, the business posted $1.28 EPS. The company’s revenue for the quarter was up 11.2% on a year-over-year basis. As a group, equities research analysts forecast that Bank of New York Mellon will post 6.96 EPS for the current fiscal year.

Institutional Investors Weigh In On Bank of New York Mellon

Several large investors have recently added to or reduced their stakes in BK. Parvin Asset Management LLC bought a new position in shares of Bank of New York Mellon in the 4th quarter worth $25,000. Bellwether Advisors LLC purchased a new stake in Bank of New York Mellon during the fourth quarter valued at about $28,000. REAP Financial Group LLC lifted its stake in Bank of New York Mellon by 123.2% during the fourth quarter. REAP Financial Group LLC now owns 395 shares of the bank’s stock worth $30,000 after purchasing an additional 218 shares during the last quarter. Transce3nd LLC purchased a new position in shares of Bank of New York Mellon in the 4th quarter worth about $33,000. Finally, South Plains Financial Inc. bought a new position in shares of Bank of New York Mellon during the 4th quarter valued at about $34,000. Institutional investors 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.