TD Waterhouse Canada Inc. Boosts Holdings in The Bank of New York Mellon Co. (NYSE:BK)

TD Waterhouse Canada Inc. increased its position in The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 5.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 68,024 shares of the bank's stock after purchasing an additional 3,635 shares during the period. TD Waterhouse Canada Inc.'s holdings in Bank of New York Mellon were worth $5,229,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Czech National Bank increased its holdings in Bank of New York Mellon by 4.9% in the 4th quarter. Czech National Bank now owns 157,645 shares of the bank's stock worth $12,112,000 after buying an additional 7,316 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its holdings in shares of Bank of New York Mellon by 11.7% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 786,496 shares of the bank's stock valued at $60,426,000 after acquiring an additional 82,671 shares during the last quarter. Fifth Third Bancorp grew its stake in shares of Bank of New York Mellon by 9.2% in the fourth quarter. Fifth Third Bancorp now owns 94,046 shares of the bank's stock worth $7,226,000 after acquiring an additional 7,935 shares during the period. Natixis Advisors LLC raised its holdings in shares of Bank of New York Mellon by 6.5% during the fourth quarter. Natixis Advisors LLC now owns 285,965 shares of the bank's stock valued at $21,971,000 after purchasing an additional 17,457 shares during the last quarter. Finally, Western Financial Corp CA bought a new position in Bank of New York Mellon during the fourth quarter valued at approximately $342,000. 85.31% of the stock is owned by hedge funds and other institutional investors.

Bank of New York Mellon Price Performance

Shares of NYSE:BK opened at $76.25 on Wednesday. The firm's 50 day simple moving average is $82.28 and its two-hundred day simple moving average is $80.41. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.69 and a quick ratio of 0.70. The company has a market capitalization of $54.75 billion, a P/E ratio of 13.12, a P/E/G ratio of 0.97 and a beta of 1.03. The Bank of New York Mellon Co. has a 1-year low of $56.08 and a 1-year high of $90.34.

Bank of New York Mellon (NYSE:BK - Get Free Report) last issued its earnings results on Friday, April 11th. The bank reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.50 by $0.08. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The company had revenue of $4.79 billion during the quarter, compared to the consensus estimate of $4.76 billion. During the same quarter in the prior year, the firm posted $1.29 EPS. Bank of New York Mellon's quarterly revenue was up 5.9% compared to the same quarter last year. Research analysts expect that The Bank of New York Mellon Co. will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 2nd. Investors of record on Monday, April 21st will be given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 2.47%. The ex-dividend date of this dividend is Monday, April 21st. Bank of New York Mellon's dividend payout ratio is currently 30.62%.

Analysts Set New Price Targets

BK has been the subject of a number of research analyst reports. Truist Financial cut their target price on shares of Bank of New York Mellon from $90.00 to $87.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Wolfe Research cut Bank of New York Mellon from an "outperform" rating to a "peer perform" rating in a research report on Friday, January 3rd. UBS Group raised their target price on Bank of New York Mellon from $88.00 to $94.00 and gave the stock a "buy" rating in a research report on Tuesday, January 21st. Citigroup boosted their price target on Bank of New York Mellon from $82.00 to $85.00 and gave the company a "neutral" rating in a research note on Monday, March 24th. Finally, Barclays increased their price objective on shares of Bank of New York Mellon from $102.00 to $104.00 and gave the stock an "overweight" rating in a research note on Thursday, January 16th. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $91.31.

Insider Activity at Bank of New York Mellon

In related news, insider Kurtis R. Kurimsky sold 5,641 shares of the firm's stock in a transaction on Monday, April 14th. The shares were sold at an average price of $77.50, for a total transaction of $437,177.50. Following the completion of the transaction, the insider now directly owns 21,679 shares of the company's stock, valued at approximately $1,680,122.50. This trade represents a 20.65 % 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, VP Catherine Keating sold 65,473 shares of the business's stock in a transaction on Monday, April 14th. The stock was sold at an average price of $77.31, for a total transaction of $5,061,717.63. Following the completion of the sale, the vice president now owns 87,542 shares in the company, valued at approximately $6,767,872.02. The trade was a 42.79 % decrease in their position. The disclosure for this sale can be found here. 0.14% of the stock is owned by corporate insiders.

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.

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