SVB Wealth LLC Takes Position in The Bank of New York Mellon Co. (NYSE:BK)

SVB Wealth LLC bought a new position in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 45,150 shares of the bank's stock, valued at approximately $3,469,000.

A number of other institutional investors have also modified their holdings of the stock. FMR LLC boosted its stake in shares of Bank of New York Mellon by 78.6% during the third quarter. FMR LLC now owns 19,338,722 shares of the bank's stock valued at $1,389,680,000 after purchasing an additional 8,512,404 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Bank of New York Mellon by 2,707.1% during the third quarter. Wellington Management Group LLP now owns 3,258,967 shares of the bank's stock valued at $234,189,000 after purchasing an additional 3,142,869 shares in the last quarter. Zacks Investment Management bought a new position in shares of Bank of New York Mellon during the third quarter valued at approximately $62,589,000. State Street Corp boosted its stake in shares of Bank of New York Mellon by 2.0% during the third quarter. State Street Corp now owns 33,313,594 shares of the bank's stock valued at $2,393,915,000 after purchasing an additional 659,096 shares in the last quarter. Finally, National Bank of Canada FI boosted its stake in shares of Bank of New York Mellon by 248.3% during the third quarter. National Bank of Canada FI now owns 858,831 shares of the bank's stock valued at $61,715,000 after purchasing an additional 612,287 shares in the last quarter. 85.31% of the stock is owned by hedge funds and other institutional investors.

Bank of New York Mellon Stock Performance

Shares of Bank of New York Mellon stock traded down $0.63 during trading on Monday, hitting $88.32. 4,374,784 shares of the company's stock were exchanged, compared to its average volume of 4,214,189. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.70 and a current ratio of 0.69. The business has a 50-day simple moving average of $83.24 and a 200-day simple moving average of $77.46. The Bank of New York Mellon Co. has a 52-week low of $52.64 and a 52-week high of $90.34. The stock has a market capitalization of $64.22 billion, a price-to-earnings ratio of 15.20, a PEG ratio of 0.97 and a beta of 1.08.

Bank of New York Mellon (NYSE:BK - Get Free Report) last issued its earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analysts' expectations of $4.66 billion. During the same quarter last year, the company posted $1.28 earnings per share. The firm's revenue was up 11.2% compared to the same quarter last year. On average, research analysts forecast that The Bank of New York Mellon Co. will post 6.96 EPS for the current year.

Bank of New York Mellon Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Monday, January 27th were issued a $0.47 dividend. The ex-dividend date of this dividend was Monday, January 27th. This represents a $1.88 dividend on an annualized basis and a yield of 2.13%. Bank of New York Mellon's payout ratio is 32.36%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Keefe, Bruyette & Woods increased their price objective on shares of Bank of New York Mellon from $87.00 to $96.00 and gave the company an "outperform" rating in a research note on Tuesday, December 3rd. UBS Group raised their target price on shares of Bank of New York Mellon from $88.00 to $94.00 and gave the company a "buy" rating in a research note on Tuesday, January 21st. Citigroup raised their target price on shares of Bank of New York Mellon from $75.00 to $82.00 and gave the company a "neutral" rating in a research note on Monday, November 25th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Bank of New York Mellon from $94.00 to $98.00 and gave the company a "buy" rating in a research note on Thursday, January 16th. Finally, Wolfe Research downgraded shares of Bank of New York Mellon from an "outperform" rating to a "peer perform" rating in a research note on Friday, January 3rd. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, Bank of New York Mellon has a consensus rating of "Moderate Buy" and a consensus target price of $88.71.

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.