The Bank of New York Mellon Co. (NYSE:BK) Shares Bought by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA increased its position in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 12.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 485,346 shares of the bank's stock after purchasing an additional 52,112 shares during the quarter. Pictet Asset Management Holding SA owned approximately 0.07% of Bank of New York Mellon worth $37,289,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. D.A. Davidson & CO. grew its position in Bank of New York Mellon by 3.3% in the third quarter. D.A. Davidson & CO. now owns 7,299 shares of the bank's stock worth $525,000 after acquiring an additional 231 shares in the last quarter. Townsquare Capital LLC boosted its stake in Bank of New York Mellon by 24.6% during the third quarter. Townsquare Capital LLC now owns 22,001 shares of the bank's stock worth $1,581,000 after acquiring an additional 4,342 shares in the last quarter. CreativeOne Wealth LLC raised its position in shares of Bank of New York Mellon by 3.8% in the 3rd quarter. CreativeOne Wealth LLC now owns 8,971 shares of the bank's stock worth $645,000 after purchasing an additional 332 shares during the last quarter. Financial Counselors Inc. bought a new position in Bank of New York Mellon in the 3rd quarter valued at approximately $293,000. Finally, Rockefeller Capital Management L.P. raised its position in Bank of New York Mellon by 0.9% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 29,519 shares of the bank's stock worth $2,118,000 after buying an additional 250 shares during the last quarter. 85.31% of the stock is currently owned by institutional investors.

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Bank of New York Mellon Stock Down 3.8 %

Shares of NYSE:BK traded down $3.22 on Thursday, hitting $81.00. 2,614,275 shares of the company's stock were exchanged, compared to its average volume of 3,898,697. The firm's 50-day moving average is $85.33 and its 200 day moving average is $79.94. The Bank of New York Mellon Co. has a 1-year low of $52.64 and a 1-year high of $90.34. The company has a market capitalization of $58.16 billion, a PE ratio of 13.91, a P/E/G ratio of 0.97 and a beta of 1.03. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.70 and a current ratio of 0.69.

Bank of New York Mellon (NYSE:BK - Get Free Report) last released its quarterly earnings results on Wednesday, January 15th. The bank reported $1.72 EPS for the quarter, topping the consensus estimate of $1.54 by $0.18. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. The business had revenue of $4.85 billion during the quarter, compared to analysts' expectations of $4.66 billion. During the same quarter in the prior year, the business earned $1.28 earnings per share. The company's quarterly revenue was up 11.2% compared to the same quarter last year. Sell-side analysts predict that The Bank of New York Mellon Co. will post 6.96 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Monday, January 27th were given a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 2.32%. The ex-dividend date of this dividend was Monday, January 27th. Bank of New York Mellon's payout ratio is currently 32.36%.

Analyst Ratings Changes

BK has been the subject of a number of recent research reports. Wells Fargo & Company boosted their price objective on Bank of New York Mellon from $86.00 to $96.00 and gave the company an "equal weight" rating in a research note on Monday, March 3rd. StockNews.com downgraded shares of Bank of New York Mellon from a "buy" rating to a "hold" rating in a research report on Wednesday, February 19th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Bank of New York Mellon from $94.00 to $98.00 and gave the stock a "buy" rating in a report on Thursday, January 16th. Bank of America upped their price objective on Bank of New York Mellon from $90.00 to $95.00 and gave the stock a "buy" rating in a research note on Thursday, January 16th. Finally, Evercore ISI upped their target price on shares of Bank of New York Mellon from $83.00 to $87.00 and gave the stock an "in-line" rating in a research report on Tuesday. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $90.07.

Bank of New York Mellon 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.