CIBC Private Wealth Group LLC Acquires 776 Shares of The Bank of New York Mellon Co. (NYSE:BK)

CIBC Private Wealth Group LLC lifted its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK) by 0.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 146,627 shares of the bank’s stock after acquiring an additional 776 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Bank of New York Mellon were worth $11,430,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BK. State Street Corp raised its holdings in Bank of New York Mellon by 2.0% in the 3rd quarter. State Street Corp now owns 33,313,594 shares of the bank’s stock worth $2,393,915,000 after purchasing an additional 659,096 shares in the last quarter. Norges Bank bought a new position in Bank of New York Mellon in the fourth quarter worth about $1,150,462,000. Arrowstreet Capital Limited Partnership raised its stake in Bank of New York Mellon by 17.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 7,751,219 shares of the bank’s stock worth $595,526,000 after buying an additional 1,125,493 shares in the last quarter. Amundi lifted its holdings in Bank of New York Mellon by 5.1% in the fourth quarter. Amundi now owns 7,363,015 shares of the bank’s stock worth $573,947,000 after buying an additional 359,942 shares during the period. Finally, Wellington Management Group LLP grew its holdings in shares of 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 worth $234,189,000 after acquiring an additional 3,142,869 shares during the period. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Stock Performance

Shares of BK opened at $84.00 on Tuesday. The company has a market cap of $60.31 billion, a price-to-earnings ratio of 14.46, a P/E/G ratio of 0.97 and a beta of 1.06. The business’s fifty day simple moving average is $85.35 and its two-hundred day simple moving average is $79.80. The Bank of New York Mellon Co. has a 12 month low of $52.64 and a 12 month high of $90.34. The company has a current ratio of 0.69, a quick ratio of 0.70 and a debt-to-equity ratio of 0.83.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings data on Wednesday, January 15th. The bank reported $1.72 EPS for the quarter, beating the consensus estimate of $1.54 by $0.18. The company had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.66 billion. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. Bank of New York Mellon’s revenue was up 11.2% compared to the same quarter last year. During the same period last year, the firm 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Monday, January 27th were issued a dividend of $0.47 per share. The ex-dividend date of this dividend was Monday, January 27th. This represents a $1.88 annualized dividend and a dividend yield of 2.24%. Bank of New York Mellon’s payout ratio is 32.36%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. StockNews.com cut Bank of New York Mellon from a “buy” rating to a “hold” rating in a research note on Wednesday, February 19th. Bank of America boosted their target price on shares of 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. Barclays increased their price target on shares of Bank of New York Mellon from $102.00 to $104.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Morgan Stanley upped their price objective on shares of Bank of New York Mellon from $90.00 to $97.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Bank of New York Mellon from $87.00 to $96.00 and gave the company an “outperform” rating in a report on Tuesday, December 3rd. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $89.71.

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.