By otakuyassine3@gmail.com 
Tobam reduced its holdings in The Bank of New York Mellon Co. (NYSE:BK – Free Report) by 30.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,721 shares of the bank’s stock after selling 2,115 shares during the period. Tobam’s holdings in Bank of New York Mellon were worth $363,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of Bank of New York Mellon by 9.3% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 82,792 shares of the bank’s stock valued at $6,361,000 after acquiring an additional 7,029 shares during the last quarter. Argus Investors Counsel Inc. bought a new stake in Bank of New York Mellon in the fourth quarter valued at about $584,000. Bleakley Financial Group LLC lifted its stake in Bank of New York Mellon by 5.4% in the fourth quarter. Bleakley Financial Group LLC now owns 11,244 shares of the bank’s stock valued at $864,000 after buying an additional 580 shares during the period. Choreo LLC boosted its holdings in Bank of New York Mellon by 6.8% during the fourth quarter. Choreo LLC now owns 52,913 shares of the bank’s stock worth $4,077,000 after buying an additional 3,374 shares during the last quarter. Finally, Tectonic Advisors LLC grew its position in shares of Bank of New York Mellon by 5.3% during the 4th quarter. Tectonic Advisors LLC now owns 9,162 shares of the bank’s stock worth $704,000 after buying an additional 464 shares during the period. 85.31% of the stock is owned by institutional investors.
Analyst Ratings Changes
A number of brokerages recently weighed in on BK. UBS Group increased their price target on shares of Bank of New York Mellon from $88.00 to $94.00 and gave the company a “buy” rating in a research report on Tuesday, January 21st. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Bank of New York Mellon from $94.00 to $98.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Wolfe Research cut shares of Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. Barclays lifted their target price on Bank of New York Mellon from $102.00 to $104.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Finally, Morgan Stanley increased their price target on Bank of New York Mellon from $90.00 to $97.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, Bank of New York Mellon currently has an average rating of “Moderate Buy” and an average price target of $88.00.
Check Out Our Latest Stock Analysis on BK
Bank of New York Mellon Price Performance
Shares of BK opened at $86.15 on Friday. The company has a 50 day moving average of $80.61 and a 200-day moving average of $74.51. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.83. The stock has a market capitalization of $62.64 billion, a P/E ratio of 14.83, a P/E/G ratio of 0.98 and a beta of 1.08. The Bank of New York Mellon Co. has a twelve month low of $52.64 and a twelve month high of $87.70.
Bank of New York Mellon (NYSE:BK – Get Free Report) last issued its quarterly earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.18. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The firm had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.66 billion. During the same period in the previous year, the business earned $1.28 EPS. The company’s revenue was up 11.2% compared to the same quarter last year. As a group, equities research analysts forecast that The Bank of New York Mellon Co. will post 6.86 EPS for the current fiscal year.
Bank of New York Mellon Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Monday, January 27th were given a dividend of $0.47 per share. The ex-dividend date was Monday, January 27th. This represents a $1.88 annualized dividend and a yield of 2.18%. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 32.36%.
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.
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