Bank Of New York Mellon Corporation (The)’s (BK) “Neutral” Rating Reaffirmed at Citigroup Inc.

Bank Of New York Mellon Corporation (The) (NYSE:BK)‘s stock had its “neutral” rating reiterated by Citigroup Inc. in a research report issued to clients and investors on Monday. They presently have a $56.00 price target on the bank’s stock, up from their previous price target of $53.00. Citigroup Inc.’s price target indicates a potential upside of 3.07% from the stock’s current price.

Several other brokerages have also recently commented on BK. Royal Bank Of Canada reissued a “hold” rating and issued a $58.00 price target on shares of Bank Of New York Mellon Corporation (The) in a research report on Thursday, August 31st. UBS AG cut shares of Bank Of New York Mellon Corporation (The) from a “buy” rating to a “neutral” rating and set a $56.00 price target for the company. in a research report on Friday, September 8th. Jefferies Group LLC reissued a “hold” rating and issued a $56.00 price target on shares of Bank Of New York Mellon Corporation (The) in a research report on Friday, September 15th. Bank of America Corporation set a $52.00 price target on shares of Bank Of New York Mellon Corporation (The) and gave the company a “sell” rating in a research report on Friday, July 21st. Finally, BidaskClub cut shares of Bank Of New York Mellon Corporation (The) from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $54.19.

Bank Of New York Mellon Corporation (BK) traded down 0.26% during mid-day trading on Monday, reaching $54.33. The company’s stock had a trading volume of 1,732,417 shares. The company’s 50-day moving average price is $52.33 and its 200 day moving average price is $50.06. Bank Of New York Mellon Corporation has a 52 week low of $38.68 and a 52 week high of $54.81. The firm has a market capitalization of $56.13 billion, a price-to-earnings ratio of 16.11 and a beta of 1.15.

Bank Of New York Mellon Corporation (The) (NYSE:BK) last issued its quarterly earnings results on Thursday, July 20th. The bank reported $0.88 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.84 by $0.04. Bank Of New York Mellon Corporation (The) had a net margin of 23.35% and a return on equity of 10.35%. The company had revenue of $3.96 billion during the quarter, compared to analysts’ expectations of $3.91 billion. During the same quarter last year, the company posted $0.76 EPS. The firm’s revenue was up .4% compared to the same quarter last year. On average, equities analysts forecast that Bank Of New York Mellon Corporation will post $3.53 earnings per share for the current fiscal year.

Bank Of New York Mellon Corporation (The) announced that its Board of Directors has approved a stock buyback program on Wednesday, June 28th that authorizes the company to buyback $3.10 billion in outstanding shares. This buyback authorization authorizes the bank to purchase up to 5.9% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

COPYRIGHT VIOLATION WARNING: This story was first published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this story on another website, it was copied illegally and reposted in violation of United States and international copyright and trademark law. The correct version of this story can be accessed at https://ledgergazette.com/2017/10/09/bank-of-new-york-mellon-corporation-the-bk-pt-raised-to-56-00-at-citigroup-inc.html.

In related news, Vice Chairman Brian T. Shea sold 44,250 shares of Bank Of New York Mellon Corporation (The) stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $52.90, for a total transaction of $2,340,825.00. Following the sale, the insider now directly owns 204,043 shares in the company, valued at approximately $10,793,874.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Gerald L. Hassell sold 1,788 shares of Bank Of New York Mellon Corporation (The) stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $53.04, for a total transaction of $94,835.52. Following the sale, the chairman now owns 872,606 shares in the company, valued at $46,283,022.24. The disclosure for this sale can be found here. Insiders have sold a total of 10,931,137 shares of company stock worth $581,058,723 over the last quarter. 3.60% of the stock is owned by company insiders.

A number of large investors have recently made changes to their positions in the stock. Hudock Capital Group LLC raised its stake in Bank Of New York Mellon Corporation (The) by 0.3% during the 2nd quarter. Hudock Capital Group LLC now owns 2,556 shares of the bank’s stock worth $130,000 after acquiring an additional 7 shares in the last quarter. Kistler Tiffany Companies LLC raised its stake in Bank Of New York Mellon Corporation (The) by 0.3% during the 2nd quarter. Kistler Tiffany Companies LLC now owns 4,154 shares of the bank’s stock worth $212,000 after acquiring an additional 12 shares in the last quarter. CHICAGO TRUST Co NA raised its stake in Bank Of New York Mellon Corporation (The) by 0.5% during the 2nd quarter. CHICAGO TRUST Co NA now owns 6,029 shares of the bank’s stock worth $307,000 after acquiring an additional 29 shares in the last quarter. Cpcm LLC raised its stake in Bank Of New York Mellon Corporation (The) by 0.4% during the 1st quarter. Cpcm LLC now owns 9,705 shares of the bank’s stock worth $458,000 after acquiring an additional 35 shares in the last quarter. Finally, First B

Several other brokerages have also recently commented on BK. Royal Bank Of Canada reissued a “hold” rating and issued a $58.00 price target on shares of Bank Of New York Mellon Corporation (The) in a research report on Thursday, August 31st. UBS AG cut shares of Bank Of New York Mellon Corporation (The) from a “buy” rating to a “neutral” rating and set a $56.00 price target for the company. in a research report on Friday, September 8th. Jefferies Group LLC reissued a “hold” rating and issued a $56.00 price target on shares of Bank Of New York Mellon Corporation (The) in a research report on Friday, September 15th. Bank of America Corporation set a $52.00 price target on shares of Bank Of New York Mellon Corporation (The) and gave the company a “sell” rating in a research report on Friday, July 21st. Finally, BidaskClub cut shares of Bank Of New York Mellon Corporation (The) from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $54.19.

Bank Of New York Mellon Corporation (BK) traded down 0.26% during mid-day trading on Monday, reaching $54.33. The company’s stock had a trading volume of 1,732,417 shares. The company’s 50-day moving average price is $52.33 and its 200 day moving average price is $50.06. Bank Of New York Mellon Corporation has a 52 week low of $38.68 and a 52 week high of $54.81. The firm has a market capitalization of $56.13 billion, a price-to-earnings ratio of 16.11 and a beta of 1.15.

Bank Of New York Mellon Corporation (The) (NYSE:BK) last issued its quarterly earnings results on Thursday, July 20th. The bank reported $0.88 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.84 by $0.04. Bank Of New York Mellon Corporation (The) had a net margin of 23.35% and a return on equity of 10.35%. The company had revenue of $3.96 billion during the quarter, compared to analysts’ expectations of $3.91 billion. During the same quarter last year, the company posted $0.76 EPS. The firm’s revenue was up .4% compared to the same quarter last year. On average, equities analysts forecast that Bank Of New York Mellon Corporation will post $3.53 earnings per share for the current fiscal year.

Bank Of New York Mellon Corporation (The) announced that its Board of Directors has approved a stock buyback program on Wednesday, June 28th that authorizes the company to buyback $3.10 billion in outstanding shares. This buyback authorization authorizes the bank to purchase up to 5.9% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

COPYRIGHT VIOLATION WARNING: This story was first published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this story on another website, it was copied illegally and reposted in violation of United States and international copyright and trademark law. The correct version of this story can be accessed at https://ledgergazette.com/2017/10/09/bank-of-new-york-mellon-corporation-the-bk-pt-raised-to-56-00-at-citigroup-inc.html.

In related news, Vice Chairman Brian T. Shea sold 44,250 shares of Bank Of New York Mellon Corporation (The) stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $52.90, for a total transaction of $2,340,825.00. Following the sale, the insider now directly owns 204,043 shares in the company, valued at approximately $10,793,874.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Gerald L. Hassell sold 1,788 shares of Bank Of New York Mellon Corporation (The) stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $53.04, for a total transaction of $94,835.52. Following the sale, the chairman now owns 872,606 shares in the company, valued at $46,283,022.24. The disclosure for this sale can be found here. Insiders have sold a total of 10,931,137 shares of company stock worth $581,058,723 over the last quarter. 3.60% of the stock is owned by company insiders.

A number of large investors have recently made changes to their positions in the stock. Hudock Capital Group LLC raised its stake in Bank Of New York Mellon Corporation (The) by 0.3% during the 2nd quarter. Hudock Capital Group LLC now owns 2,556 shares of the bank’s stock worth $130,000 after acquiring an additional 7 shares in the last quarter. Kistler Tiffany Companies LLC raised its stake in Bank Of New York Mellon Corporation (The) by 0.3% during the 2nd quarter. Kistler Tiffany Companies LLC now owns 4,154 shares of the bank’s stock worth $212,000 after acquiring an additional 12 shares in the last quarter. CHICAGO TRUST Co NA raised its stake in Bank Of New York Mellon Corporation (The) by 0.5% during the 2nd quarter. CHICAGO TRUST Co NA now owns 6,029 shares of the bank’s stock worth $307,000 after acquiring an additional 29 shares in the last quarter. Cpcm LLC raised its stake in Bank Of New York Mellon Corporation (The) by 0.4% during the 1st quarter. Cpcm LLC now owns 9,705 shares of the bank’s stock worth $458,000 after acquiring an additional 35 shares in the last quarter. Finally, First Bank & Trust raised its stake in Bank Of New York Mellon Corporation (The) by 1.1% during the 2nd quarter. First Bank & Trust now owns 4,800 shares of the bank’s stock worth $245,000 after acquiring an additional 52 shares in the last quarter. Hedge funds and other institutional investors own 81.78% of the company’s stock.

About Bank Of New York Mellon Corporation (The)

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)

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