DnB Asset Management AS Acquires 4,910 Shares of The Bank of New York Mellon Co. (NYSE:BK)

DnB Asset Management AS grew its position in The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 3.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 137,765 shares of the bank's stock after purchasing an additional 4,910 shares during the period. DnB Asset Management AS's holdings in Bank of New York Mellon were worth $10,584,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Graney & King LLC bought a new stake in shares of Bank of New York Mellon during the 4th quarter worth approximately $35,000. Centricity Wealth Management LLC bought a new stake in Bank of New York Mellon during the fourth quarter worth $39,000. TCTC Holdings LLC lifted its stake in Bank of New York Mellon by 257.5% in the fourth quarter. TCTC Holdings LLC now owns 597 shares of the bank's stock valued at $46,000 after acquiring an additional 430 shares during the last quarter. Modus Advisors LLC bought a new position in shares of Bank of New York Mellon in the 4th quarter valued at about $49,000. Finally, Friedenthal Financial acquired a new position in shares of Bank of New York Mellon during the 4th quarter worth about $56,000. 85.31% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on BK shares. Bank of America raised their target price on shares of Bank of New York Mellon from $90.00 to $95.00 and gave the company a "buy" rating in a research note on Thursday, January 16th. Morgan Stanley reduced their target price on Bank of New York Mellon from $99.00 to $98.00 and set an "overweight" rating for the company in a research note on Wednesday. StockNews.com cut Bank of New York Mellon from a "buy" rating to a "hold" rating in a research note on Wednesday, February 19th. Wolfe Research cut shares of Bank of New York Mellon from an "outperform" rating to a "peer perform" rating in a research note on Friday, January 3rd. Finally, Barclays upped their price target on shares of Bank of New York Mellon from $102.00 to $104.00 and gave the company an "overweight" rating in a research note 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. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $90.07.

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Bank of New York Mellon Price Performance

Shares of NYSE:BK traded down $3.49 during trading on Thursday, reaching $80.73. 1,316,085 shares of the company traded hands, compared to its average volume of 3,893,424. The firm has a market capitalization of $57.96 billion, a PE ratio of 13.90, a PEG ratio of 0.97 and a beta of 1.03. The Bank of New York Mellon Co. has a 52 week low of $52.64 and a 52 week high of $90.34. 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 company's 50 day moving average is $85.33 and its two-hundred day moving average is $79.94.

Bank of New York Mellon (NYSE:BK - Get Free Report) last announced its quarterly earnings data on Wednesday, January 15th. The bank reported $1.72 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 the consensus estimate of $4.66 billion. During the same period in the prior year, the company posted $1.28 earnings per share. The business's revenue for the quarter was up 11.2% on a year-over-year basis. As a group, sell-side analysts predict that The Bank of New York Mellon Co. will post 6.96 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Monday, January 27th were given a dividend of $0.47 per share. The ex-dividend date of this dividend was Monday, January 27th. This represents a $1.88 annualized dividend and a yield of 2.33%. Bank of New York Mellon's dividend payout ratio is currently 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.