Bank of New York Mellon (NYSE:BK)‘s stock had its “buy” rating reaffirmed by research analysts at Vining Sparks in a research note issued to investors on Tuesday. They presently have a $62.00 price target on the bank’s stock. Vining Sparks’ price objective suggests a potential upside of 22.24% from the stock’s current price.

A number of other equities analysts have also recently commented on the company. Zacks Investment Research raised Bank of New York Mellon from a “sell” rating to a “hold” rating and set a $57.00 target price for the company in a report on Monday, September 17th. Raymond James cut Bank of New York Mellon from an “outperform” rating to a “market perform” rating in a report on Thursday, July 12th. Deutsche Bank increased their target price on Bank of New York Mellon from $60.00 to $61.00 and gave the company a “buy” rating in a report on Thursday, September 27th. Keefe, Bruyette & Woods set a $56.00 target price on Bank of New York Mellon and gave the company a “hold” rating in a report on Thursday, July 19th. Finally, ValuEngine cut Bank of New York Mellon from a “hold” rating to a “sell” rating in a report on Friday, July 20th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the stock. Bank of New York Mellon currently has an average rating of “Hold” and an average target price of $58.58.

Shares of BK stock opened at $50.72 on Tuesday. Bank of New York Mellon has a 12-month low of $49.39 and a 12-month high of $58.99. The company has a market cap of $50.99 billion, a price-to-earnings ratio of 14.09, a price-to-earnings-growth ratio of 1.59 and a beta of 1.05. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.82.

Bank of New York Mellon (NYSE:BK) last announced its earnings results on Thursday, July 19th. The bank reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $1.02 by $0.01. Bank of New York Mellon had a return on equity of 11.40% and a net margin of 25.08%. The business had revenue of $4.14 billion during the quarter, compared to analysts’ expectations of $4.13 billion. During the same quarter in the prior year, the firm earned $0.88 earnings per share. The business’s revenue was up 4.6% compared to the same quarter last year. On average, research analysts predict that Bank of New York Mellon will post 4.18 EPS for the current year.

Bank of New York Mellon announced that its board has approved a stock repurchase plan on Thursday, June 28th that authorizes the company to repurchase $2.40 billion in shares. This repurchase authorization authorizes the bank to reacquire up to 4.4% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Several large investors have recently bought and sold shares of the stock. FMR LLC increased its holdings in shares of Bank of New York Mellon by 123.2% in the second quarter. FMR LLC now owns 18,383,793 shares of the bank’s stock valued at $991,438,000 after purchasing an additional 10,147,809 shares during the last quarter. Trian Fund Management L.P. increased its holdings in shares of Bank of New York Mellon by 2.3% in the first quarter. Trian Fund Management L.P. now owns 16,136,596 shares of the bank’s stock valued at $831,519,000 after purchasing an additional 360,164 shares during the last quarter. Artisan Partners Limited Partnership increased its holdings in shares of Bank of New York Mellon by 0.5% in the second quarter. Artisan Partners Limited Partnership now owns 13,668,727 shares of the bank’s stock valued at $737,154,000 after purchasing an additional 63,107 shares during the last quarter. Morgan Stanley increased its holdings in shares of Bank of New York Mellon by 66.0% in the second quarter. Morgan Stanley now owns 8,460,980 shares of the bank’s stock valued at $456,300,000 after purchasing an additional 3,363,091 shares during the last quarter. Finally, Vulcan Value Partners LLC increased its holdings in shares of Bank of New York Mellon by 13.2% in the second quarter. Vulcan Value Partners LLC now owns 7,871,202 shares of the bank’s stock valued at $424,494,000 after purchasing an additional 918,540 shares during the last quarter. 83.40% of the stock is owned by hedge funds and other institutional investors.

About Bank of New York Mellon

The Bank of New York Mellon Corporation provides a range of financial products and services to institutions, corporations, and high net worth individuals in the United States and internationally. The company operates through two segments, Investment Management and Investment Services. It offers investment management, custody, foreign exchange, fund broker-dealer, collateral and liquidity, clearing, corporate trust, global payment, trade finance, and cash management services, as well as securities finance and depositary receipts.

Featured Article: Hedge Funds

Analyst Recommendations for Bank of New York Mellon (NYSE:BK)

Receive News & Ratings for Bank of New York Mellon 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 and related companies with MarketBeat.com's FREE daily email newsletter.