Bank Of New York Mellon Corporation (The) (NYSE:BK) Given “Neutral” Rating at Buckingham Research

Bank Of New York Mellon Corporation (The) (NYSE:BK)‘s stock had its “neutral” rating restated by equities researchers at Buckingham Research in a research report issued on Monday. They presently have a $57.00 price target on the bank’s stock, up from their previous price target of $52.00. Buckingham Research’s price target indicates a potential upside of 9.87% from the company’s current price.

Several other equities research analysts have also recently weighed in on BK. Royal Bank of Canada restated a “hold” rating and set a $52.00 target price on shares of Bank Of New York Mellon Corporation (The) in a research note on Tuesday, April 4th. Keefe, Bruyette & Woods set a $49.00 target price on Bank Of New York Mellon Corporation (The) and gave the stock a “hold” rating in a research note on Tuesday, April 4th. Deutsche Bank AG cut their target price on Bank Of New York Mellon Corporation (The) from $55.00 to $54.00 and set a “buy” rating for the company in a research note on Thursday, April 6th. Jefferies Group LLC restated a “hold” rating and set a $52.00 target price on shares of Bank Of New York Mellon Corporation (The) in a research note on Tuesday, April 11th. Finally, Credit Suisse Group restated a “neutral” rating on shares of Bank Of New York Mellon Corporation (The) in a research note on Friday, April 21st. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, five have issued a buy rating and two have given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $51.27.

Shares of Bank Of New York Mellon Corporation (BK) traded up 0.25% during trading on Monday, hitting $51.88. The stock had a trading volume of 2,303,155 shares. Bank Of New York Mellon Corporation has a 12-month low of $38.11 and a 12-month high of $52.34. The stock’s 50-day moving average is $48.27 and its 200-day moving average is $47.32. The stock has a market capitalization of $53.95 billion, a P/E ratio of 15.96 and a beta of 1.14.

Bank Of New York Mellon Corporation (The) (NYSE:BK) last issued its quarterly earnings results on Thursday, April 20th. The bank reported $0.80 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.80. The business had revenue of $3.84 billion during the quarter, compared to analysts’ expectations of $3.83 billion. Bank Of New York Mellon Corporation (The) had a return on equity of 9.97% and a net margin of 23.12%. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.74 earnings per share. Analysts predict that Bank Of New York Mellon Corporation will post $3.51 EPS for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: “Bank Of New York Mellon Corporation (The) (NYSE:BK) Given “Neutral” Rating at Buckingham Research” was originally published by WKRB News and is the sole property of of WKRB News. If you are reading this news story on another publication, it was copied illegally and republished in violation of international trademark & copyright legislation. The legal version of this news story can be viewed at https://www.wkrb13.com/markets/2286241/bank-of-new-york-mellon-corporation-the-nysebk-given-neutral-rating-at-buckingham-research.html.

In other news, Vice Chairman Thomas P. Gibbons sold 102,174 shares of the stock in a transaction dated Monday, April 24th. The shares were sold at an average price of $47.71, for a total transaction of $4,874,721.54. Following the transaction, the insider now owns 271,416 shares of the company’s stock, valued at approximately $12,949,257.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP J Kevin Mccarthy sold 10,000 shares of the stock in a transaction dated Monday, April 24th. The stock was sold at an average price of $47.64, for a total transaction of $476,400.00. Following the transaction, the executive vice president now directly owns 100,487 shares in the company, valued at approximately $4,787,200.68. The disclosure for this sale can be found here. Corporate insiders own 3.60% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Fox Run Management L.L.C. bought a new position in Bank Of New York Mellon Corporation (The) during the second quarter worth about $429,000. Beacon Financial Group boosted its position in Bank Of New York Mellon Corporation (The) by 11.6% in the second quarter. Beacon Financial Group now owns 95,032 shares of the bank’s stock worth $4,848,000 after buying an additional 9,903 shares during the period. Independence Advisors LLC bought a new position in Bank Of New York Mellon Corporation (The) during the second quarter worth about $5,861,000. Robinson Value Management Ltd. boosted its position in Bank Of New York Mellon Corporation (The) by 7.2% in the second quarter. Robinson Value Management Ltd. now owns 27,639 shares of the bank’s stock worth $1,410,000 after buying an additional 1,862 shares during the period. Finally, Park National Corp OH boosted its position in Bank Of New York Mellon Corporation (The) by 13.0% in the second quarter. Park National Corp OH now owns 231,830 shares of the bank’s stock worth $11,828,000 after buying an additional 26,657 shares during the period. 82.05% of the stock is currently owned by institutional investors.

Bank Of New York Mellon Corporation (The) Company Profile

The Bank of New York Mellon Corporation is an investments company. The Company operates businesses through two segments: Investment Management and Investment Services. The Company also has an Other segment, which includes the leasing portfolio, corporate treasury activities (including its investment securities portfolio), derivatives and other trading, corporate and bank-owned life insurance and renewable energy investments, and business exits.

Analyst Recommendations for Bank Of New York Mellon Corporation (The) (NYSE:BK)

This story was originally published by WKRB News (https://www.wkrb13.com) and is the sole property of WKRB News. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at https://www.wkrb13.com/markets/2286241/bank-of-new-york-mellon-corporation-the-nysebk-given-neutral-rating-at-buckingham-research.html

Receive News & Ratings for Bank Of New York Mellon Corporation (The) Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bank Of New York Mellon Corporation (The) and related companies with MarketBeat.com's FREE daily email newsletter.

 


Leave a Reply

 
© 2006-2017 WKRB News.