Bank of New York Mellon (NYSE:BK) Given New $133.00 Price Target at TD Cowen

Bank of New York Mellon (NYSE:BK) had its price target hoisted by TD Cowen from $130.00 to $133.00 in a research report report published on Monday morning,Benzinga reports. TD Cowen currently has a buy rating on the bank’s stock.

BK has been the topic of a number of other research reports. Citigroup raised their price target on Bank of New York Mellon from $92.00 to $105.00 and gave the stock a “neutral” rating in a research report on Friday, September 5th. Evercore ISI raised their price target on Bank of New York Mellon from $91.00 to $110.00 and gave the stock an “in-line” rating in a research report on Tuesday, September 30th. Morgan Stanley raised their price target on Bank of New York Mellon from $101.00 to $116.00 and gave the stock an “overweight” rating in a research report on Monday, September 29th. The Goldman Sachs Group raised their price target on Bank of New York Mellon from $106.00 to $120.00 and gave the stock a “buy” rating in a research report on Monday, October 6th. Finally, BMO Capital Markets assumed coverage on Bank of New York Mellon in a research report on Friday, October 3rd. They issued an “outperform” rating and a $125.00 price target on the stock. Ten investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $111.29.

Bank of New York Mellon Stock Up 2.4%

BK opened at $108.50 on Monday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.72 and a current ratio of 0.70. Bank of New York Mellon has a fifty-two week low of $70.46 and a fifty-two week high of $110.87. The company has a market capitalization of $76.52 billion, a P/E ratio of 15.66, a P/E/G ratio of 0.98 and a beta of 1.13. The stock has a fifty day moving average of $105.70 and a 200-day moving average of $94.89.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings results on Tuesday, March 26th. The bank reported $1.30 EPS for the quarter. Bank of New York Mellon had a return on equity of 14.03% and a net margin of 12.86%.The company had revenue of $4.38 billion for the quarter. On average, equities analysts expect that Bank of New York Mellon will post 6.96 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 7th. Stockholders of record on Monday, October 27th will be issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Monday, October 27th. Bank of New York Mellon’s payout ratio is 30.59%.

Institutional Trading of Bank of New York Mellon

Several hedge funds and other institutional investors have recently made changes to their positions in BK. Leonard Rickey Investment Advisors P.L.L.C. grew its position in Bank of New York Mellon by 1.9% in the third quarter. Leonard Rickey Investment Advisors P.L.L.C. now owns 5,192 shares of the bank’s stock worth $566,000 after acquiring an additional 98 shares during the period. Tiemann Investment Advisors LLC grew its position in Bank of New York Mellon by 2.9% in the second quarter. Tiemann Investment Advisors LLC now owns 3,492 shares of the bank’s stock worth $318,000 after acquiring an additional 100 shares during the period. Cary Street Partners Investment Advisory LLC grew its position in Bank of New York Mellon by 13.7% in the second quarter. Cary Street Partners Investment Advisory LLC now owns 828 shares of the bank’s stock worth $75,000 after acquiring an additional 100 shares during the period. Hemington Wealth Management grew its position in Bank of New York Mellon by 6.3% in the second quarter. Hemington Wealth Management now owns 1,730 shares of the bank’s stock worth $157,000 after acquiring an additional 102 shares during the period. Finally, Summit Financial Wealth Advisors LLC grew its position in Bank of New York Mellon by 1.8% in the third quarter. Summit Financial Wealth Advisors LLC now owns 5,702 shares of the bank’s stock worth $609,000 after acquiring an additional 103 shares during the period. 85.31% of the stock is currently owned by institutional investors.

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.