Fifth Third Wealth Advisors LLC Increases Stock Position in The Bank of New York Mellon Co. (NYSE:BK)

Fifth Third Wealth Advisors LLC raised its position in The Bank of New York Mellon Co. (NYSE:BK) by 4.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 20,267 shares of the bank’s stock after buying an additional 895 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in Bank of New York Mellon were worth $1,557,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. State Street Corp lifted its position in shares of 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 in the last quarter. FMR LLC lifted its holdings in Bank of New York Mellon by 78.6% during the third quarter. FMR LLC now owns 19,338,722 shares of the bank’s stock valued at $1,389,680,000 after purchasing an additional 8,512,404 shares in the last quarter. Ameriprise Financial Inc. grew its position in shares of Bank of New York Mellon by 4.2% in the second quarter. Ameriprise Financial Inc. now owns 10,416,436 shares of the bank’s stock valued at $623,891,000 after purchasing an additional 421,161 shares during the period. Legal & General Group Plc increased its stake in shares of Bank of New York Mellon by 1.2% during the second quarter. Legal & General Group Plc now owns 8,058,064 shares of the bank’s stock worth $482,597,000 after purchasing an additional 97,286 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Bank of New York Mellon by 1.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,634,088 shares of the bank’s stock worth $476,726,000 after purchasing an additional 117,974 shares during the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Analyst Upgrades and Downgrades

BK has been the topic of several research analyst reports. Royal Bank of Canada reiterated a “sector perform” rating and issued a $79.00 price objective on shares of Bank of New York Mellon in a report on Monday, October 14th. UBS Group boosted their price target on Bank of New York Mellon from $73.00 to $82.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Wells Fargo & Company increased their price objective on Bank of New York Mellon from $81.00 to $82.00 and gave the company an “equal weight” rating in a research note on Thursday, January 2nd. Morgan Stanley lowered their target price on shares of Bank of New York Mellon from $94.00 to $90.00 and set an “overweight” rating on the stock in a research note on Friday, January 3rd. Finally, Wolfe Research cut shares of Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $82.64.

Bank of New York Mellon Stock Up 7.9 %

Shares of NYSE BK opened at $81.95 on Thursday. The Bank of New York Mellon Co. has a 1 year low of $52.64 and a 1 year high of $82.72. The company has a market capitalization of $59.58 billion, a P/E ratio of 17.82, a P/E/G ratio of 0.91 and a beta of 1.08. The company has a 50 day simple moving average of $78.58 and a 200-day simple moving average of $71.94. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.70 and a quick ratio of 0.70.

Bank of New York Mellon (NYSE:BK) last posted its earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.18. Bank of New York Mellon had a return on equity of 12.06% and a net margin of 9.44%. The company 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 firm’s quarterly revenue was up 11.2% compared to the same quarter last year. On average, equities research analysts predict that The Bank of New York Mellon Co. will post 5.84 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Monday, January 27th will be given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 2.29%. Bank of New York Mellon’s payout ratio is currently 40.87%.

About Bank of New York Mellon

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.