The Bank of New York Mellon Co. (NYSE:BK) Shares Bought by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC raised its stake in The Bank of New York Mellon Co. (NYSE:BK – Get Rating) by 3.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 185,901 shares of the bank’s stock after acquiring an additional 6,956 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Bank of New York Mellon were worth $8,462,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of BK. Acadian Asset Management LLC increased its position in shares of Bank of New York Mellon by 160.0% in the first quarter. Acadian Asset Management LLC now owns 5,358 shares of the bank’s stock valued at $263,000 after buying an additional 3,297 shares in the last quarter. Prudential PLC purchased a new stake in shares of Bank of New York Mellon in the first quarter valued at approximately $1,096,000. Cetera Investment Advisers increased its position in shares of Bank of New York Mellon by 3.3% in the first quarter. Cetera Investment Advisers now owns 35,635 shares of the bank’s stock valued at $1,769,000 after buying an additional 1,154 shares in the last quarter. Candriam Luxembourg S.C.A. increased its position in shares of Bank of New York Mellon by 54.3% in the first quarter. Candriam Luxembourg S.C.A. now owns 232,115 shares of the bank’s stock valued at $11,519,000 after buying an additional 81,728 shares in the last quarter. Finally, Zions Bancorporation N.A. increased its position in shares of Bank of New York Mellon by 165.3% during the first quarter. Zions Bancorporation N.A. now owns 1,459 shares of the bank’s stock worth $72,000 after purchasing an additional 909 shares in the last quarter. 82.29% of the stock is owned by institutional investors and hedge funds.

Bank of New York Mellon Stock Up 0.8 %

Shares of BK opened at $41.50 on Tuesday. The company has a quick ratio of 0.66, a current ratio of 0.69 and a debt-to-equity ratio of 0.92. The company has a 50-day moving average price of $44.96 and a two-hundred day moving average price of $45.98. The Bank of New York Mellon Co. has a 12 month low of $36.22 and a 12 month high of $52.26. The stock has a market cap of $33.19 billion, a price-to-earnings ratio of 13.13, a P/E/G ratio of 1.08 and a beta of 1.07.

Bank of New York Mellon (NYSE:BK – Get Rating) last issued its earnings results on Tuesday, April 18th. The bank reported $1.12 EPS for the quarter, beating the consensus estimate of $1.09 by $0.03. Bank of New York Mellon had a net margin of 11.98% and a return on equity of 11.45%. The company had revenue of $4.36 billion during the quarter, compared to analysts’ expectations of $4.40 billion. During the same quarter in the previous year, the company posted $0.86 EPS. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. Equities analysts predict that The Bank of New York Mellon Co. will post 4.75 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 11th. Investors of record on Friday, April 28th will be paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 3.57%. The ex-dividend date is Thursday, April 27th. Bank of New York Mellon’s payout ratio is presently 46.84%.

Analyst Upgrades and Downgrades

BK has been the topic of several recent analyst reports. Wells Fargo & Company decreased their price target on Bank of New York Mellon from $52.00 to $51.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 19th. StockNews.com began coverage on Bank of New York Mellon in a report on Thursday, March 16th. They issued a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft dropped their price target on Bank of New York Mellon from $42.00 to $41.00 in a research note on Wednesday, April 19th. Barclays decreased their price objective on Bank of New York Mellon from $64.00 to $62.00 in a research report on Wednesday, April 12th. Finally, Bank of America began coverage on Bank of New York Mellon in a report on Thursday, January 12th. They issued a “buy” rating and a $56.00 price target for the company. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $51.61.

Bank of New York Mellon Company Profile

(Get Rating)

The Bank of New York Mellon Corp. is a bank holding company, which engages in the provision of financial services. It operates through the following segments: Securities Services, Market and Wealth Services, Investment and Wealth Management, and Other segment. The Securities Services segment includes Asset Servicing business, which provides global custody, fund accounting, integrated middle-office solutions, transfer agency and data and analytics solutions.