Commerzbank Aktiengesellschaft FI Purchases 165 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Commerzbank Aktiengesellschaft FI boosted its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK) by 4.5% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,847 shares of the bank’s stock after buying an additional 165 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in Bank of New York Mellon were worth $231,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Norges Bank bought a new position in shares of Bank of New York Mellon in the 4th quarter worth $813,701,000. Vanguard Group Inc. raised its position in Bank of New York Mellon by 6.1% during the fourth quarter. Vanguard Group Inc. now owns 74,501,451 shares of the bank’s stock valued at $3,877,801,000 after purchasing an additional 4,293,751 shares in the last quarter. KBC Group NV boosted its holdings in shares of Bank of New York Mellon by 217.0% in the 4th quarter. KBC Group NV now owns 1,528,492 shares of the bank’s stock worth $79,558,000 after purchasing an additional 1,046,298 shares in the last quarter. M&G Plc purchased a new position in shares of Bank of New York Mellon in the 1st quarter worth about $55,543,000. Finally, Putnam Investments LLC raised its holdings in shares of Bank of New York Mellon by 224.9% during the 4th quarter. Putnam Investments LLC now owns 1,001,056 shares of the bank’s stock valued at $52,105,000 after buying an additional 692,910 shares in the last quarter. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Bank of New York Mellon Trading Down 0.2 %

NYSE:BK traded down $0.10 during trading hours on Wednesday, hitting $65.24. The company had a trading volume of 2,830,157 shares, compared to its average volume of 3,841,793. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.70 and a quick ratio of 0.71. The Bank of New York Mellon Co. has a 52 week low of $39.66 and a 52 week high of $65.93. The company has a market capitalization of $48.79 billion, a PE ratio of 15.13, a price-to-earnings-growth ratio of 1.14 and a beta of 1.09. The stock has a 50-day moving average price of $62.05 and a 200 day moving average price of $58.62.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings results on Friday, July 12th. The bank reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.08. Bank of New York Mellon had a net margin of 9.40% and a return on equity of 11.87%. The company had revenue of $4.60 billion for the quarter, compared to analysts’ expectations of $4.53 billion. During the same quarter in the previous year, the company earned $1.38 earnings per share. Bank of New York Mellon’s quarterly revenue was up 2.1% on a year-over-year basis. On average, equities research analysts predict that The Bank of New York Mellon Co. will post 5.6 EPS for the current fiscal year.

Bank of New York Mellon Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 2nd. Investors of record on Monday, July 22nd were given a dividend of $0.47 per share. The ex-dividend date of this dividend was Monday, July 22nd. This is a positive change from Bank of New York Mellon’s previous quarterly dividend of $0.42. This represents a $1.88 annualized dividend and a dividend yield of 2.88%. Bank of New York Mellon’s payout ratio is currently 43.52%.

Insider Buying and Selling

In related news, VP Hanneke Smits sold 15,000 shares of the business’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $64.11, for a total transaction of $961,650.00. Following the sale, the vice president now owns 173,930 shares of the company’s stock, valued at $11,150,652.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.14% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have commented on BK. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Bank of New York Mellon from $63.00 to $66.00 and gave the stock a “hold” rating in a research note on Thursday, August 15th. Morgan Stanley boosted their price target on shares of Bank of New York Mellon from $65.00 to $72.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 30th. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $75.00 price objective (up previously from $70.00) on shares of Bank of New York Mellon in a report on Monday, July 15th. Barclays boosted their target price on Bank of New York Mellon from $68.00 to $75.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Finally, Citigroup lowered Bank of New York Mellon from a “buy” rating to a “neutral” rating and set a $65.00 price target on the stock. in a research report on Monday, July 15th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $66.14.

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.