45,150 Shares in The Bank of New York Mellon Co. (NYSE:BK) Purchased by SVB Wealth LLC

SVB Wealth LLC acquired a new position in The Bank of New York Mellon Co. (NYSE:BK) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 45,150 shares of the bank’s stock, valued at approximately $3,469,000.

A number of other large investors have also modified their holdings of BK. FMR LLC increased its stake in Bank of New York Mellon by 78.6% during the 3rd quarter. FMR LLC now owns 19,338,722 shares of the bank’s stock valued at $1,389,680,000 after buying an additional 8,512,404 shares during the period. Wellington Management Group LLP increased its stake in Bank of New York Mellon by 2,707.1% during the 3rd quarter. Wellington Management Group LLP now owns 3,258,967 shares of the bank’s stock valued at $234,189,000 after buying an additional 3,142,869 shares during the period. Zacks Investment Management acquired a new position in Bank of New York Mellon during the 3rd quarter valued at about $62,589,000. State Street Corp increased its stake in Bank of New York Mellon by 2.0% during the 3rd quarter. State Street Corp now owns 33,313,594 shares of the bank’s stock valued at $2,393,915,000 after buying an additional 659,096 shares during the period. Finally, National Bank of Canada FI increased its stake in Bank of New York Mellon by 248.3% during the 3rd quarter. National Bank of Canada FI now owns 858,831 shares of the bank’s stock valued at $61,715,000 after buying an additional 612,287 shares during the period. Institutional investors and hedge funds own 85.31% of the company’s stock.

Bank of New York Mellon Stock Performance

BK stock opened at $88.86 on Friday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.70 and a current ratio of 0.69. The stock has a market cap of $64.60 billion, a P/E ratio of 15.29, a P/E/G ratio of 0.97 and a beta of 1.08. The firm has a 50 day simple moving average of $83.02 and a 200 day simple moving average of $77.21. The Bank of New York Mellon Co. has a 52 week low of $52.64 and a 52 week high of $89.44.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings results on Wednesday, January 15th. The bank reported $1.72 EPS for the quarter, topping the consensus estimate of $1.54 by $0.18. The business had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.66 billion. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The firm’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same period last year, the company posted $1.28 earnings per share. Research analysts anticipate that The Bank of New York Mellon Co. will post 6.96 earnings per share for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Monday, January 27th were issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 2.12%. The ex-dividend date was Monday, January 27th. Bank of New York Mellon’s dividend payout ratio is currently 32.36%.

Analyst Ratings Changes

BK has been the topic of several recent research reports. Wolfe Research cut shares of Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Bank of New York Mellon from $94.00 to $98.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Bank of America lifted their price objective on shares of Bank of New York Mellon from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Keefe, Bruyette & Woods lifted their price objective on shares of Bank of New York Mellon from $87.00 to $96.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 3rd. Finally, Evercore ISI lifted their price objective on shares of Bank of New York Mellon from $79.00 to $83.00 and gave the stock an “in-line” rating in a research note on Thursday, January 16th. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.