Sandler O’Neill reiterated their hold rating on shares of Bank Of New York Mellon (NYSE:BK) in a research note published on Friday. They currently have a $58.00 price target on the bank’s stock.

BK has been the topic of several other research reports. ValuEngine raised shares of Bank Of New York Mellon from a hold rating to a buy rating in a report on Tuesday, December 5th. Citigroup reaffirmed a neutral rating and issued a $56.00 target price (up previously from $53.00) on shares of Bank Of New York Mellon in a report on Monday, October 9th. Jefferies Group reaffirmed a hold rating on shares of Bank Of New York Mellon in a report on Friday, October 20th. Credit Suisse Group reaffirmed a hold rating and issued a $55.00 target price on shares of Bank Of New York Mellon in a report on Tuesday, October 10th. Finally, Zacks Investment Research raised shares of Bank Of New York Mellon from a hold rating to a buy rating and set a $61.00 target price on the stock in a report on Tuesday, October 10th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $56.61.

Bank Of New York Mellon (NYSE BK) opened at $56.61 on Friday. The company has a quick ratio of 0.69, a current ratio of 0.70 and a debt-to-equity ratio of 0.82. The company has a market cap of $57,370.95, a price-to-earnings ratio of 15.18, a price-to-earnings-growth ratio of 1.76 and a beta of 1.23. Bank Of New York Mellon has a one year low of $43.85 and a one year high of $58.99.

Bank Of New York Mellon (NYSE:BK) last posted its quarterly earnings data on Thursday, January 18th. The bank reported $0.91 EPS for the quarter, meeting analysts’ consensus estimates of $0.91. The company had revenue of $3.73 billion for the quarter, compared to analyst estimates of $4.01 billion. Bank Of New York Mellon had a net margin of 24.72% and a return on equity of 10.69%. Bank Of New York Mellon’s quarterly revenue was down 1.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.77 earnings per share. equities research analysts anticipate that Bank Of New York Mellon will post 4.15 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 9th. Investors of record on Tuesday, January 30th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date of this dividend is Monday, January 29th. Bank Of New York Mellon’s dividend payout ratio is currently 25.74%.

In related news, CFO Thomas P. Gibbons sold 38,152 shares of the business’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $54.15, for a total transaction of $2,065,930.80. Following the sale, the chief financial officer now owns 310,002 shares of the company’s stock, valued at $16,786,608.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Trian Fund Management, L.P. sold 5,798,725 shares of the business’s stock in a transaction dated Tuesday, October 24th. The stock was sold at an average price of $52.42, for a total transaction of $303,969,164.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,677,177 shares of company stock worth $350,171,492. 3.60% of the stock is owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in the stock. Invictus RG acquired a new position in shares of Bank Of New York Mellon in the third quarter valued at approximately $102,000. Rowland & Co. Investment Counsel ADV acquired a new position in shares of Bank Of New York Mellon in the fourth quarter valued at approximately $124,000. Horan Capital Advisors LLC. acquired a new position in shares of Bank Of New York Mellon in the third quarter valued at approximately $139,000. Advisory Services Network LLC raised its position in shares of Bank Of New York Mellon by 15.5% in the second quarter. Advisory Services Network LLC now owns 2,712 shares of the bank’s stock valued at $138,000 after buying an additional 363 shares during the last quarter. Finally, Sawyer & Company Inc acquired a new position in shares of Bank Of New York Mellon in the fourth quarter valued at approximately $164,000. 82.87% of the stock is currently owned by hedge funds and other institutional investors.

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About Bank Of New York Mellon

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 (NYSE:BK)

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