4,848 Shares in The Bank of New York Mellon Co. (NYSE:BK) Bought by denkapparat Operations GmbH

denkapparat Operations GmbH acquired a new stake in The Bank of New York Mellon Co. (NYSE:BK) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 4,848 shares of the bank’s stock, valued at approximately $372,000.

Several other large investors have also recently made changes to their positions in BK. Norges Bank purchased a new stake in Bank of New York Mellon during the fourth quarter worth about $1,150,462,000. Wellington Management Group LLP raised its holdings in shares of Bank of New York Mellon by 2,707.1% in the 3rd quarter. Wellington Management Group LLP now owns 3,258,967 shares of the bank’s stock worth $234,189,000 after purchasing an additional 3,142,869 shares during the period. Raymond James Financial Inc. purchased a new position in Bank of New York Mellon in the fourth quarter valued at approximately $90,955,000. Zacks Investment Management bought a new position in Bank of New York Mellon during the third quarter valued at $62,589,000. Finally, State Street Corp increased its position in Bank of New York Mellon by 2.0% in the third quarter. State Street Corp now owns 33,313,594 shares of the bank’s stock worth $2,393,915,000 after buying an additional 659,096 shares during the last quarter. 85.31% of the stock is owned by hedge funds and other institutional investors.

Bank of New York Mellon Price Performance

BK opened at $84.63 on Friday. The stock’s 50 day simple moving average is $85.35 and its 200 day simple moving average is $79.42. The Bank of New York Mellon Co. has a 1 year low of $52.64 and a 1 year high of $90.34. 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 firm has a market cap of $60.77 billion, a price-to-earnings ratio of 14.57, a PEG ratio of 0.97 and a beta of 1.06.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings data on Wednesday, January 15th. The bank reported $1.72 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.66 billion. During the same quarter last year, the business posted $1.28 EPS. The business’s revenue was up 11.2% on a year-over-year basis. As a group, analysts predict that The Bank of New York Mellon Co. will post 6.96 earnings per share for the current 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 given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 2.22%. The ex-dividend date was Monday, January 27th. Bank of New York Mellon’s dividend payout ratio is currently 32.36%.

Analyst Upgrades and Downgrades

BK has been the topic of a number of research reports. UBS Group boosted their price objective on Bank of New York Mellon from $88.00 to $94.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. Deutsche Bank Aktiengesellschaft increased their target price 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 upped their price target on shares of Bank of New York Mellon from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Wells Fargo & Company lifted their price objective 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, Royal Bank of Canada reiterated a “sector perform” rating and set a $90.00 target price on shares of Bank of New York Mellon in a research report on Monday, March 17th. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $89.71.

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.