Deutsche Bank Aktiengesellschaft Upgrades Bank of New York Mellon (NYSE:BK) to Buy

Bank of New York Mellon (NYSE:BK) was upgraded by analysts at Deutsche Bank Aktiengesellschaft from a “hold” rating to a “buy” rating in a note issued to investors on Monday, MarketBeat reports. The brokerage presently 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 target suggests a potential upside of 11.39% from the company’s previous close.

BK has been the topic of a number of other research reports. Citigroup raised their price target on Bank of New York Mellon from $65.00 to $70.00 and gave the stock a “neutral” rating in a report on Thursday, September 19th. Morgan Stanley upped 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 note on Tuesday, July 30th. Barclays lifted their price objective on shares of Bank of New York Mellon from $68.00 to $75.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $75.00 target price (up previously from $70.00) on shares of Bank of New York Mellon in a research note on Monday, July 15th. Finally, Evercore ISI lifted their target price on shares of Bank of New York Mellon from $61.00 to $66.00 and gave the company an “in-line” rating in a report 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, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $67.86.

Bank of New York Mellon Stock Down 0.4 %

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

Bank of New York Mellon (NYSE:BK) last announced its earnings results on Friday, July 12th. The bank reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.08. The business had revenue of $4.60 billion for the quarter, compared to analysts’ expectations 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 company’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.38 EPS. Equities research analysts forecast that Bank of New York Mellon will post 5.63 earnings per share for the current year.

Insider Activity

In other Bank of New York Mellon 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 transaction of $961,650.00. Following the sale, the vice president now directly owns 173,930 shares in the company, valued at $11,150,652.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.14% of the company’s stock.

Hedge Funds Weigh In On Bank of New York Mellon

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