Swedbank AB Purchases 71,900 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Swedbank AB boosted its stake in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 9.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 797,764 shares of the bank's stock after purchasing an additional 71,900 shares during the quarter. Swedbank AB owned approximately 0.11% of Bank of New York Mellon worth $61,292,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Mackenzie Financial Corp boosted its position in Bank of New York Mellon by 1.5% during the 2nd quarter. Mackenzie Financial Corp now owns 93,439 shares of the bank's stock worth $5,596,000 after acquiring an additional 1,362 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in Bank of New York Mellon by 2.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 37,093 shares of the bank's stock valued at $2,221,000 after buying an additional 1,023 shares in the last quarter. NewEdge Advisors LLC increased its stake in Bank of New York Mellon by 66.8% during the 2nd quarter. NewEdge Advisors LLC now owns 28,596 shares of the bank's stock valued at $1,713,000 after buying an additional 11,457 shares during the period. EP Wealth Advisors LLC bought a new stake in shares of Bank of New York Mellon during the 2nd quarter worth about $234,000. Finally, Truist Financial Corp raised its position in shares of Bank of New York Mellon by 3.3% during the 2nd quarter. Truist Financial Corp now owns 1,734,833 shares of the bank's stock worth $103,899,000 after buying an additional 55,631 shares in the last quarter. 85.31% of the stock is currently owned by institutional investors.

Bank of New York Mellon Stock Up 1.2 %

BK stock traded up $1.05 during midday trading on Thursday, reaching $87.09. The company had a trading volume of 616,340 shares, compared to its average volume of 4,044,241. The company has a 50 day moving average of $80.02 and a two-hundred day moving average of $73.68. The company has a current ratio of 0.69, a quick ratio of 0.70 and a debt-to-equity ratio of 0.83. The Bank of New York Mellon Co. has a 1 year low of $52.64 and a 1 year high of $87.70. The company has a market capitalization of $63.32 billion, a P/E ratio of 15.00, a PEG ratio of 0.96 and a beta of 1.08.

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 (EPS) for the quarter, beating analysts' consensus estimates 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 firm had revenue of $4.85 billion during the quarter, compared to analysts' expectations of $4.66 billion. During the same quarter last year, the firm earned $1.28 earnings per share. The business's revenue for the quarter was up 11.2% on a year-over-year basis. On average, equities research analysts expect that The Bank of New York Mellon Co. will post 6.86 earnings per share for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Monday, January 27th will be issued a $0.47 dividend. The ex-dividend date of this dividend is Monday, January 27th. This represents a $1.88 dividend on an annualized basis and a yield of 2.16%. Bank of New York Mellon's dividend payout ratio is currently 32.36%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on BK shares. Barclays upped their target price on 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. Keefe, Bruyette & Woods upped their price objective on Bank of New York Mellon from $87.00 to $96.00 and gave the company an "outperform" rating in a report on Tuesday, December 3rd. StockNews.com upgraded shares of Bank of New York Mellon from a "hold" rating to a "buy" rating in a research report on Tuesday. UBS Group raised their target price on shares of Bank of New York Mellon from $88.00 to $94.00 and gave the stock a "buy" rating in a report on Tuesday, January 21st. Finally, Royal Bank of Canada restated a "sector perform" rating and issued a $79.00 price target on shares of Bank of New York Mellon in a research report on Monday, October 14th. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $88.00.

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.