Caisse Des Depots ET Consignations acquired a new position in The Bank of New York Mellon Co. (NYSE:BK - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 84,609 shares of the bank's stock, valued at approximately $6,501,000.
Other institutional investors have also recently added to or reduced their stakes in the company. Graney & King LLC acquired a new position in shares of Bank of New York Mellon in the 4th quarter valued at about $35,000. Centricity Wealth Management LLC bought a new position in shares of Bank of New York Mellon during the fourth quarter valued at approximately $39,000. TCTC Holdings LLC lifted its holdings in shares of Bank of New York Mellon by 257.5% in the 4th quarter. TCTC Holdings LLC now owns 597 shares of the bank's stock worth $46,000 after purchasing an additional 430 shares during the last quarter. Modus Advisors LLC bought a new position in shares of Bank of New York Mellon during the fourth quarter worth about $49,000. Finally, Friedenthal Financial acquired a new stake in Bank of New York Mellon in the 4th quarter valued at approximately $56,000. Institutional investors own 85.31% of the company's stock.
Bank of New York Mellon Trading Down 2.1 %
BK traded down $1.81 during trading on Friday, reaching $82.67. The company had a trading volume of 2,643,554 shares, compared to its average volume of 3,898,259. 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 Bank of New York Mellon Co. has a 12-month low of $52.64 and a 12-month high of $90.34. The company has a market cap of $59.35 billion, a price-to-earnings ratio of 14.23, a PEG ratio of 0.97 and a beta of 1.06. The firm's 50-day simple moving average is $85.34 and its 200 day simple moving average is $79.61.
Bank of New York Mellon (NYSE:BK - Get Free Report) last released its earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share 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 business had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.66 billion. During the same period last year, the firm posted $1.28 earnings per share. The firm's quarterly revenue was up 11.2% compared to the same quarter last year. Equities research analysts anticipate that The Bank of New York Mellon Co. will post 6.96 earnings per share for the current year.
Bank of New York Mellon Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Monday, January 27th were given a $0.47 dividend. The ex-dividend date of this dividend was Monday, January 27th. This represents a $1.88 annualized dividend and a dividend yield of 2.27%. Bank of New York Mellon's dividend payout ratio (DPR) is presently 32.36%.
Analyst Ratings Changes
BK has been the subject of a number of analyst reports. Wells Fargo & Company boosted their price target on Bank of New York Mellon from $86.00 to $96.00 and gave the stock an "equal weight" rating in a research report on Monday, March 3rd. Deutsche Bank Aktiengesellschaft increased 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 report on Thursday, January 16th. Morgan Stanley boosted their price target on shares of Bank of New York Mellon from $90.00 to $97.00 and gave the stock an "overweight" rating in a research report on Thursday, January 16th. Barclays increased their price objective on shares of Bank of New York Mellon from $102.00 to $104.00 and gave the company an "overweight" rating in a report on Thursday, January 16th. Finally, Bank of America boosted their target price on Bank of New York Mellon from $90.00 to $95.00 and gave the stock a "buy" rating in a report on Thursday, January 16th. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $89.71.
Check Out Our Latest Stock Report on Bank of New York Mellon
About Bank of New York Mellon
(
Free Report)
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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