Bank of New York Mellon (NYSE:BK) Downgraded by Wolfe Research to Peer Perform

Bank of New York Mellon (NYSE:BK) was downgraded by stock analysts at Wolfe Research from an “outperform” rating to a “peer perform” rating in a report released on Friday,Briefing.com Automated Import reports.

Several other analysts have also commented on BK. Wells Fargo & Company raised their price target on shares of Bank of New York Mellon from $81.00 to $82.00 and gave the company an “equal weight” rating in a research report on Thursday. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $79.00 target price on shares of Bank of New York Mellon in a research note on Monday, October 14th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Bank of New York Mellon from $82.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Citigroup boosted their target price on shares of Bank of New York Mellon from $75.00 to $82.00 and gave the stock a “neutral” rating in a research note on Monday, November 25th. Finally, Barclays lifted their price objective on Bank of New York Mellon from $75.00 to $86.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Five 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, the company currently has an average rating of “Moderate Buy” and a consensus price target of $81.08.

Bank of New York Mellon Trading Up 0.8 %

Shares of Bank of New York Mellon stock opened at $77.41 on Friday. Bank of New York Mellon has a 1 year low of $51.79 and a 1 year high of $82.72. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.70 and a quick ratio of 0.70. The stock has a market cap of $56.28 billion, a PE ratio of 16.83, a price-to-earnings-growth ratio of 0.91 and a beta of 1.07. The firm has a fifty day moving average price of $78.38 and a 200 day moving average price of $70.75.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings data on Friday, October 11th. The bank reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.11. The business had revenue of $4.65 billion during the quarter, compared to analysts’ expectations of $4.52 billion. Bank of New York Mellon had a return on equity of 12.06% and a net margin of 9.44%. Equities research analysts predict that Bank of New York Mellon will post 5.84 earnings per share for the current year.

Insider Transactions at Bank of New York Mellon

In related news, VP Hanneke Smits sold 16,475 shares of the stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $76.47, for a total value of $1,259,843.25. Following the transaction, the vice president now directly owns 157,455 shares of the company’s stock, valued at $12,040,583.85. This trade represents a 9.47 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP J Kevin Mccarthy sold 25,000 shares of Bank of New York Mellon stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $76.31, for a total transaction of $1,907,750.00. Following the sale, the executive vice president now owns 75,404 shares in the company, valued at $5,754,079.24. This represents a 24.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.14% of the company’s stock.

Hedge Funds Weigh In On Bank of New York Mellon

Hedge funds have recently made changes to their positions in the company. FMR LLC lifted its holdings in shares of Bank of New York Mellon by 78.6% in the 3rd quarter. FMR LLC now owns 19,338,722 shares of the bank’s stock valued at $1,389,680,000 after purchasing an additional 8,512,404 shares during the last quarter. Wellington Management Group LLP lifted its stake in Bank of New York Mellon by 2,707.1% in the third quarter. Wellington Management Group LLP now owns 3,258,967 shares of the bank’s stock valued at $234,189,000 after buying an additional 3,142,869 shares during the last quarter. Marshall Wace LLP grew its position in shares of Bank of New York Mellon by 99.4% during the second quarter. Marshall Wace LLP now owns 2,631,213 shares of the bank’s stock worth $157,583,000 after acquiring an additional 1,311,969 shares during the last quarter. Zacks Investment Management acquired a new position in shares of Bank of New York Mellon in the 3rd quarter valued at $62,589,000. Finally, State Street Corp boosted its stake in Bank of New York Mellon by 2.0% during the 3rd quarter. State Street Corp now owns 33,313,594 shares of the bank’s stock worth $2,393,915,000 after purchasing an additional 659,096 shares during the period. Hedge funds and other 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.