Dimensional Fund Advisors LP lifted its position in The Bank of New York Mellon Co. (NYSE:BK – Free Report) by 1.2% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,430,829 shares of the bank’s stock after buying an additional 78,069 shares during the quarter. Dimensional Fund Advisors LP owned about 0.83% of Bank of New York Mellon worth $286,296,000 as of its most recent filing with the SEC.
Other large investors have also made changes to their positions in the company. Norges Bank acquired a new stake in Bank of New York Mellon in the 4th quarter worth approximately $503,489,000. Bank Julius Baer & Co. Ltd Zurich lifted its holdings in shares of Bank of New York Mellon by 98,557.0% during the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 10,841,417 shares of the bank’s stock worth $482,660,000 after buying an additional 10,830,428 shares during the last quarter. Moneta Group Investment Advisors LLC lifted its holdings in shares of Bank of New York Mellon by 74,433.7% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 6,114,741 shares of the bank’s stock worth $278,343,000 after buying an additional 6,106,537 shares during the last quarter. FMR LLC lifted its holdings in shares of Bank of New York Mellon by 32.0% during the first quarter. FMR LLC now owns 18,006,796 shares of the bank’s stock worth $818,229,000 after buying an additional 4,365,044 shares during the last quarter. Finally, Parnassus Investments LLC lifted its holdings in shares of Bank of New York Mellon by 120.3% during the first quarter. Parnassus Investments LLC now owns 5,385,368 shares of the bank’s stock worth $244,711,000 after buying an additional 2,941,223 shares during the last quarter. Institutional investors own 81.29% of the company’s stock.
Analysts Set New Price Targets
A number of research analysts have recently commented on BK shares. Evercore ISI cut their price target on Bank of New York Mellon from $47.00 to $45.00 in a report on Thursday, October 5th. Morgan Stanley cut their target price on Bank of New York Mellon from $48.00 to $46.00 and set an “underweight” rating for the company in a research note on Tuesday, October 3rd. Deutsche Bank Aktiengesellschaft cut their target price on Bank of New York Mellon from $45.00 to $44.00 and set a “hold” rating for the company in a research note on Wednesday, October 11th. Bank of America cut their target price on Bank of New York Mellon from $55.00 to $53.00 in a research note on Tuesday, October 10th. Finally, StockNews.com assumed coverage on Bank of New York Mellon in a research note on Thursday, October 5th. They issued a “hold” rating for the company. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Bank of New York Mellon has a consensus rating of “Hold” and a consensus price target of $52.40.
Bank of New York Mellon Price Performance
Shares of BK stock opened at $46.57 on Thursday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.71 and a current ratio of 0.71. The stock has a market capitalization of $35.82 billion, a PE ratio of 10.93, a PEG ratio of 1.07 and a beta of 1.10. The Bank of New York Mellon Co. has a 52 week low of $39.65 and a 52 week high of $52.26. The stock’s fifty day moving average is $43.34 and its 200-day moving average is $43.48.
Bank of New York Mellon (NYSE:BK – Get Free Report) last posted its quarterly earnings data on Tuesday, October 17th. The bank reported $1.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.15 by $0.12. The business had revenue of $4.37 billion during the quarter, compared to the consensus estimate of $4.32 billion. Bank of New York Mellon had a return on equity of 11.84% and a net margin of 11.81%. Bank of New York Mellon’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period last year, the company earned $1.21 earnings per share. Equities research analysts expect that The Bank of New York Mellon Co. will post 4.88 EPS for the current fiscal year.
Bank of New York Mellon Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Thursday, November 9th. Stockholders of record on Friday, October 27th were paid a dividend of $0.42 per share. The ex-dividend date of this dividend was Thursday, October 26th. This represents a $1.68 annualized dividend and a dividend yield of 3.61%. Bank of New York Mellon’s dividend payout ratio is currently 39.44%.
Bank of New York Mellon Company 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.
- Five stocks we like better than Bank of New York Mellon
- High Flyers: 3 Natural Gas Stocks for March 2022
- Buffett’s latest portfolio additions, trims, and cuts in Q3
- How to Choose Top Rated Stocks
- 5 reasons TJX Companies will hit new highs in 2024
- Short Selling: How to Short a Stock
- Game-changing news for Ambarella puts the market in reversal
Receive News & Ratings for Bank of New York Mellon Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bank of New York Mellon and related companies with MarketBeat.com's FREE daily email newsletter.