Fiera Capital Corp raised its position in The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 16.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 72,121 shares of the bank's stock after acquiring an additional 10,053 shares during the quarter. Fiera Capital Corp's holdings in Bank of New York Mellon were worth $5,183,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of the company. Marshall Wace LLP boosted its stake in shares of Bank of New York Mellon by 99.4% during the 2nd quarter. Marshall Wace LLP now owns 2,631,213 shares of the bank's stock valued at $157,583,000 after purchasing an additional 1,311,969 shares in the last quarter. Panagora Asset Management Inc. boosted its stake in shares of Bank of New York Mellon by 6,040.9% during the 2nd quarter. Panagora Asset Management Inc. now owns 1,037,806 shares of the bank's stock valued at $62,154,000 after purchasing an additional 1,020,906 shares in the last quarter. M&G Plc bought a new stake in shares of Bank of New York Mellon during the 1st quarter valued at about $55,543,000. Swedbank AB bought a new stake in shares of Bank of New York Mellon during the 1st quarter valued at about $35,514,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in shares of Bank of New York Mellon by 89.5% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,216,146 shares of the bank's stock valued at $72,835,000 after purchasing an additional 574,319 shares in the last quarter. Hedge funds and other institutional investors own 85.31% of the company's stock.
Wall Street Analysts Forecast Growth
BK has been the topic of several research reports. Keefe, Bruyette & Woods reissued an "outperform" rating and set a $75.00 price objective (up previously from $70.00) on shares of Bank of New York Mellon in a research note on Monday, July 15th. Citigroup boosted their price objective on shares of Bank of New York Mellon from $65.00 to $70.00 and gave the stock a "neutral" rating in a research note on Thursday, September 19th. Deutsche Bank Aktiengesellschaft raised shares of Bank of New York Mellon from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $66.00 to $80.00 in a research note on Monday, September 23rd. Wells Fargo & Company boosted their price objective on shares of Bank of New York Mellon from $69.00 to $79.00 and gave the stock an "equal weight" rating in a research note on Monday, October 14th. Finally, The Goldman Sachs Group boosted their price objective on shares of Bank of New York Mellon from $74.00 to $80.00 and gave the stock a "buy" rating in a research note on Thursday, September 26th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Bank of New York Mellon has a consensus rating of "Moderate Buy" and a consensus price target of $76.69.
Read Our Latest Research Report on Bank of New York Mellon
Insider Transactions at Bank of New York Mellon
In other news, VP Hanneke Smits sold 16,475 shares of the stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $76.47, for a total value of $1,259,843.25. Following the completion of the sale, the vice president now directly owns 157,455 shares of the company's stock, valued at $12,040,583.85. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, VP Hanneke Smits sold 16,475 shares of the firm's stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $76.47, for a total transaction of $1,259,843.25. Following the completion of the transaction, the vice president now directly owns 157,455 shares of the company's stock, valued at approximately $12,040,583.85. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP J Kevin Mccarthy sold 25,000 shares of the firm's stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $76.31, for a total transaction of $1,907,750.00. Following the transaction, the executive vice president now directly owns 75,404 shares of the company's stock, valued at $5,754,079.24. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.14% of the company's stock.
Bank of New York Mellon Stock Performance
BK stock traded down $0.63 during midday trading on Friday, reaching $77.06. 3,176,365 shares of the company's stock traded hands, compared to its average volume of 4,158,608. The Bank of New York Mellon Co. has a 52-week low of $44.93 and a 52-week high of $80.29. The stock has a market cap of $56.03 billion, a P/E ratio of 16.75, a PEG ratio of 0.91 and a beta of 1.07. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.89. The stock's 50-day moving average is $72.95 and its 200 day moving average is $65.17.
Bank of New York Mellon (NYSE:BK - Get Free Report) last announced its earnings results on Friday, October 11th. The bank reported $1.52 EPS for the quarter, beating analysts' consensus estimates of $1.41 by $0.11. The business had revenue of $4.65 billion during the quarter, compared to analysts' expectations of $4.52 billion. Bank of New York Mellon had a net margin of 9.44% and a return on equity of 12.06%. As a group, analysts anticipate that The Bank of New York Mellon Co. will post 5.79 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, November 1st. Stockholders of record on Monday, October 21st were paid a $0.47 dividend. The ex-dividend date of this dividend was Monday, October 21st. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.44%. Bank of New York Mellon's dividend payout ratio (DPR) is presently 40.87%.
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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