Jefferies Financial Group Increases Bank of New York Mellon (NYSE:BK) Price Target to $68.00

Bank of New York Mellon (NYSE:BK) had its price objective hoisted by research analysts at Jefferies Financial Group from $67.00 to $68.00 in a research report issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the bank’s stock. Jefferies Financial Group’s target price would indicate a potential upside of 20.80% from the company’s current price.

BK has been the topic of several other research reports. Bank of America raised their target price on Bank of New York Mellon from $64.00 to $66.00 and gave the stock a “buy” rating in a research report on Wednesday. Morgan Stanley raised Bank of New York Mellon from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $52.00 to $62.00 in a research report on Tuesday, January 30th. Citigroup raised their target price on Bank of New York Mellon from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, February 14th. Royal Bank of Canada reissued a “sector perform” rating and set a $58.00 target price on shares of Bank of New York Mellon in a research report on Wednesday, March 27th. Finally, Evercore ISI lifted their price target on Bank of New York Mellon from $57.00 to $61.00 and gave the stock an “in-line” rating in a research report on Thursday, April 4th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Bank of New York Mellon currently has a consensus rating of “Moderate Buy” and an average target price of $60.06.

Bank of New York Mellon Stock Performance

Shares of BK opened at $56.29 on Thursday. The stock has a 50-day simple moving average of $55.76 and a 200-day simple moving average of $51.23. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.72 and a current ratio of 0.71. The stock has a market capitalization of $42.38 billion, a PE ratio of 13.73, a PEG ratio of 1.15 and a beta of 1.12. Bank of New York Mellon has a 1 year low of $39.65 and a 1 year high of $58.28.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings data on Tuesday, April 16th. The bank reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.10. The business had revenue of $4.53 billion during the quarter, compared to analysts’ expectations of $4.39 billion. Bank of New York Mellon had a return on equity of 11.80% and a net margin of 9.48%. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.13 EPS. On average, analysts predict that Bank of New York Mellon will post 5.4 earnings per share for the current fiscal year.

Insider Activity

In other news, VP Catherine Keating sold 4,498 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $54.81, for a total value of $246,535.38. Following the transaction, the vice president now owns 123,490 shares of the company’s stock, valued at $6,768,486.90. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.14% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of BK. Quent Capital LLC increased its stake in Bank of New York Mellon by 3.8% during the fourth quarter. Quent Capital LLC now owns 5,033 shares of the bank’s stock worth $262,000 after acquiring an additional 182 shares during the last quarter. Hartford Financial Management Inc. increased its stake in Bank of New York Mellon by 41.4% during the fourth quarter. Hartford Financial Management Inc. now owns 625 shares of the bank’s stock worth $33,000 after acquiring an additional 183 shares during the last quarter. Vivaldi Capital Management LP increased its stake in Bank of New York Mellon by 3.3% during the fourth quarter. Vivaldi Capital Management LP now owns 6,015 shares of the bank’s stock worth $324,000 after acquiring an additional 192 shares during the last quarter. Certuity LLC increased its stake in Bank of New York Mellon by 2.3% during the fourth quarter. Certuity LLC now owns 8,972 shares of the bank’s stock worth $467,000 after acquiring an additional 205 shares during the last quarter. Finally, Choreo LLC increased its stake in Bank of New York Mellon by 1.8% during the fourth quarter. Choreo LLC now owns 11,903 shares of the bank’s stock worth $620,000 after acquiring an additional 208 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.