Franklin Resources Inc. Boosts Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Franklin Resources Inc. raised its stake in The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 2.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,297,463 shares of the bank's stock after acquiring an additional 44,734 shares during the period. Franklin Resources Inc. owned 0.32% of Bank of New York Mellon worth $176,514,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in BK. Summit Financial LLC boosted its position in shares of Bank of New York Mellon by 5.6% in the 4th quarter. Summit Financial LLC now owns 11,393 shares of the bank's stock valued at $875,000 after purchasing an additional 607 shares during the period. FSB Premier Wealth Management Inc. lifted its stake in Bank of New York Mellon by 15.9% in the fourth quarter. FSB Premier Wealth Management Inc. now owns 12,577 shares of the bank's stock valued at $966,000 after buying an additional 1,729 shares during the last quarter. O Shaughnessy Asset Management LLC boosted its holdings in shares of Bank of New York Mellon by 11.7% in the fourth 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 period. CIBC Private Wealth Group LLC grew its position in shares of Bank of New York Mellon by 0.5% during the fourth quarter. CIBC Private Wealth Group LLC now owns 146,627 shares of the bank's stock worth $11,430,000 after acquiring an additional 776 shares during the last quarter. Finally, Dorsey Wright & Associates acquired a new position in shares of Bank of New York Mellon in the 4th quarter valued at $6,512,000. Hedge funds and other institutional investors own 85.31% of the company's stock.

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Analyst Ratings Changes

Several research analysts have issued reports on BK shares. Barclays raised 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 report on Thursday, January 16th. Deutsche Bank Aktiengesellschaft raised their price target on 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. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $90.00 price objective on shares of Bank of New York Mellon in a research note on Monday, March 17th. Wells Fargo & Company lifted their target price 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. Finally, Evercore ISI boosted their target price on Bank of New York Mellon from $83.00 to $87.00 and gave the company an "in-line" rating in a report on Tuesday. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $90.07.

Bank of New York Mellon Price Performance

Bank of New York Mellon stock traded down $4.33 during mid-day trading on Thursday, reaching $79.89. The company had a trading volume of 5,261,860 shares, compared to its average volume of 3,910,950. The stock's 50-day simple moving average is $85.23 and its 200-day simple moving average is $79.93. The company has a market capitalization of $57.36 billion, a P/E ratio of 13.75, 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 current ratio of 0.69 and a quick ratio of 0.70. The Bank of New York Mellon Co. has a 1 year low of $52.64 and a 1 year high of $90.34.

Bank of New York Mellon (NYSE:BK - Get Free Report) last released its quarterly earnings data on Wednesday, January 15th. The bank reported $1.72 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.18. The firm had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.66 billion. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. Bank of New York Mellon's quarterly revenue was up 11.2% on a year-over-year basis. During the same period last year, the business posted $1.28 EPS. On average, equities 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. Investors of record on Monday, January 27th were paid a $0.47 dividend. The ex-dividend date of this dividend was Monday, January 27th. This represents a $1.88 dividend on an annualized basis and a yield of 2.35%. Bank of New York Mellon's payout ratio is 32.36%.

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.