Bank of New York Mellon (NYSE:BK) Price Target Raised to $98.00 at Deutsche Bank Aktiengesellschaft

Bank of New York Mellon (NYSE:BK) had its price objective increased by Deutsche Bank Aktiengesellschaft from $94.00 to $98.00 in a report released on Thursday,Benzinga reports. They currently have a buy rating on the bank’s stock.

Other equities analysts also recently issued research reports about the stock. Royal Bank of Canada reissued a “sector perform” rating and issued a $79.00 price objective on shares of Bank of New York Mellon in a report on Monday, October 14th. Morgan Stanley lowered their target price on Bank of New York Mellon from $94.00 to $90.00 and set an “overweight” rating on the stock in a research report on Friday, January 3rd. Citigroup boosted their price objective on Bank of New York Mellon from $75.00 to $82.00 and gave the company a “neutral” rating in a research note on Monday, November 25th. Truist Financial assumed coverage on shares of Bank of New York Mellon in a research note on Tuesday, January 7th. They set a “buy” rating and a $91.00 target price on the stock. Finally, Barclays increased their price objective on shares of Bank of New York Mellon from $86.00 to $102.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $87.14.

Bank of New York Mellon Trading Up 1.3 %

NYSE:BK opened at $83.31 on Thursday. The company’s 50 day moving average price is $78.87 and its 200-day moving average price is $72.24. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.89. Bank of New York Mellon has a 52 week low of $52.64 and a 52 week high of $83.67. The stock has a market cap of $60.57 billion, a price-to-earnings ratio of 18.11, a PEG ratio of 0.76 and a beta of 1.08.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.54 by $0.18. The firm had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.66 billion. Bank of New York Mellon had a net margin of 9.44% and a return on equity of 12.06%. The business’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.28 EPS. On average, equities research analysts forecast that Bank of New York Mellon will post 5.87 earnings per share for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Monday, January 27th will be given a $0.47 dividend. The ex-dividend date of this dividend is Monday, January 27th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.26%. Bank of New York Mellon’s dividend payout ratio is currently 40.87%.

Institutional Investors Weigh In On Bank of New York Mellon

Several large investors have recently bought and sold shares of the business. United Advisor Group LLC bought a new stake in shares of Bank of New York Mellon in the 3rd quarter valued at approximately $595,000. Czech National Bank lifted its position in Bank of New York Mellon by 4.9% in the fourth quarter. Czech National Bank now owns 157,645 shares of the bank’s stock worth $12,112,000 after buying an additional 7,316 shares during the last quarter. Principal Financial Group Inc. increased its position in Bank of New York Mellon by 1.7% during the third quarter. Principal Financial Group Inc. now owns 883,853 shares of the bank’s stock valued at $63,514,000 after acquiring an additional 14,916 shares during the last quarter. Chase Investment Counsel Corp raised its stake in shares of Bank of New York Mellon by 67.2% in the third quarter. Chase Investment Counsel Corp now owns 83,530 shares of the bank’s stock valued at $6,002,000 after acquiring an additional 33,558 shares during the period. Finally, Ameriprise Financial Inc. lifted its holdings in shares of Bank of New York Mellon by 4.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 10,416,436 shares of the bank’s stock worth $623,891,000 after acquiring an additional 421,161 shares during the last quarter. Institutional investors own 85.31% of the company’s stock.

About Bank of New York Mellon

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.