Commerzbank Aktiengesellschaft FI Boosts Position in The Bank of New York Mellon Corporation $BK

Commerzbank Aktiengesellschaft FI lifted its holdings in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 42.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 24,202 shares of the bank’s stock after acquiring an additional 7,269 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in Bank of New York Mellon were worth $2,638,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Investment Management Corp of Ontario raised its position in shares of Bank of New York Mellon by 25.9% in the 2nd quarter. Investment Management Corp of Ontario now owns 125,506 shares of the bank’s stock worth $11,435,000 after acquiring an additional 25,842 shares in the last quarter. First National Advisers LLC purchased a new stake in Bank of New York Mellon in the third quarter worth $3,304,000. Permanent Capital Management LP bought a new position in Bank of New York Mellon in the third quarter worth $2,262,000. First Horizon Corp purchased a new position in Bank of New York Mellon during the third quarter valued at $22,072,000. Finally, Robeco Institutional Asset Management B.V. boosted its holdings in shares of Bank of New York Mellon by 36.4% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 2,166,052 shares of the bank’s stock valued at $236,013,000 after buying an additional 577,621 shares in the last quarter. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Price Performance

Shares of BK opened at $117.71 on Monday. The company has a market capitalization of $82.09 billion, a P/E ratio of 15.89, a price-to-earnings-growth ratio of 1.10 and a beta of 1.11. The company has a quick ratio of 0.70, a current ratio of 0.71 and a debt-to-equity ratio of 0.81. The firm has a 50 day moving average of $115.93 and a 200 day moving average of $108.70. The Bank of New York Mellon Corporation has a twelve month low of $70.46 and a twelve month high of $125.89.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings data on Friday, October 31st. The bank reported $1.91 earnings per share (EPS) for the quarter. The business had revenue of $5.07 billion for the quarter. Bank of New York Mellon had a return on equity of 14.37% and a net margin of 13.62%. As a group, equities research analysts anticipate that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 5th. Investors of record on Friday, January 23rd will be given a dividend of $0.53 per share. The ex-dividend date of this dividend is Friday, January 23rd. This represents a $2.12 annualized dividend and a dividend yield of 1.8%. Bank of New York Mellon’s dividend payout ratio (DPR) is 28.61%.

Analyst Ratings Changes

A number of research analysts recently issued reports on BK shares. Barclays lifted their price target on shares of Bank of New York Mellon from $120.00 to $143.00 and gave the company an “overweight” rating in a research report on Monday, January 5th. Evercore ISI raised their target price on shares of Bank of New York Mellon from $91.00 to $110.00 and gave the company an “in-line” rating in a research note on Tuesday, September 30th. TD Cowen lifted their target price on shares of Bank of New York Mellon from $133.00 to $145.00 and gave the company a “buy” rating in a report on Wednesday, January 7th. Royal Bank Of Canada upped their price target on Bank of New York Mellon from $124.00 to $130.00 and gave the stock a “sector perform” rating in a research note on Wednesday, January 14th. Finally, Truist Financial raised Bank of New York Mellon from a “hold” rating to a “buy” rating and raised their price objective for the company from $119.00 to $134.00 in a research report on Wednesday, January 7th. Eight investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $131.92.

Bank of New York Mellon Profile

Bank of New York Mellon Corporation (BNY Mellon) is a global financial services company headquartered in New York City that provides a wide range of asset servicing, custody, and related financial infrastructure solutions to institutional clients. Its core businesses include custody and asset servicing, clearing and collateral management, treasury services, securities lending, corporate trust services, and depositary receipt administration. The company also offers investment management and advisory services through its asset management arm and provides technology-enabled solutions for trade processing, foreign exchange, and liquidity management.

BNY Mellon serves a broad client base that includes asset managers, pension funds, corporations, banks, broker-dealers and sovereign entities.