The Bank of New York Mellon Co. (NYSE:BK) Shares Bought by Cibc World Market Inc.

Cibc World Market Inc. increased its stake in The Bank of New York Mellon Co. (NYSE:BK) by 26.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 195,533 shares of the bank’s stock after acquiring an additional 40,360 shares during the period. Cibc World Market Inc.’s holdings in Bank of New York Mellon were worth $15,023,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Mediolanum International Funds Ltd purchased a new stake in Bank of New York Mellon during the fourth quarter valued at about $1,221,000. Crews Bank & Trust acquired a new position in shares of Bank of New York Mellon in the 4th quarter valued at about $224,000. Invesco LLC purchased a new stake in shares of Bank of New York Mellon during the 4th quarter worth about $204,000. Swedbank AB increased its position in Bank of New York Mellon by 9.9% during the 4th quarter. Swedbank AB now owns 797,764 shares of the bank’s stock worth $61,292,000 after purchasing an additional 71,900 shares in the last quarter. Finally, McKinley Carter Wealth Services Inc. raised its holdings in Bank of New York Mellon by 1.2% in the fourth quarter. McKinley Carter Wealth Services Inc. now owns 30,765 shares of the bank’s stock valued at $2,364,000 after buying an additional 352 shares during the period. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BK has been the subject of several recent research reports. StockNews.com raised shares of Bank of New York Mellon from a “hold” rating to a “buy” rating in a research report on Tuesday. Morgan Stanley raised their price objective on Bank of New York Mellon from $90.00 to $97.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Wolfe Research downgraded Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. Bank of America raised their target price on Bank of New York Mellon from $90.00 to $95.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $79.00 price target on shares of Bank of New York Mellon in a report on Monday, October 14th. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $88.00.

Bank of New York Mellon Price Performance

Shares of BK stock opened at $86.01 on Friday. The firm has a market cap of $62.53 billion, a P/E ratio of 14.80, a P/E/G ratio of 0.98 and a beta of 1.08. The firm has a fifty day moving average of $80.17 and a two-hundred day moving average of $73.77. 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 Bank of New York Mellon Co. has a 1-year low of $52.64 and a 1-year high of $87.70.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings data on Wednesday, January 15th. The bank reported $1.72 earnings per share for the quarter, beating 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 firm had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.66 billion. During the same period in the previous year, the company earned $1.28 earnings per share. Bank of New York Mellon’s quarterly revenue was up 11.2% on a year-over-year basis. As a group, research analysts anticipate that The Bank of New York Mellon Co. will post 6.86 earnings per share for the current fiscal year.

Bank of New York Mellon Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Monday, January 27th will be issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date of this dividend is Monday, January 27th. Bank of New York Mellon’s dividend payout ratio is presently 32.36%.

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.