DNB Asset Management AS Acquires 6,293 Shares of The Bank of New York Mellon Corporation $BK

DNB Asset Management AS increased its holdings in The Bank of New York Mellon Corporation (NYSE:BK) by 4.6% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 143,392 shares of the bank’s stock after buying an additional 6,293 shares during the quarter. DNB Asset Management AS’s holdings in Bank of New York Mellon were worth $15,624,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of BK. Valeo Financial Advisors LLC grew its stake in shares of Bank of New York Mellon by 1.3% in the third quarter. Valeo Financial Advisors LLC now owns 7,539 shares of the bank’s stock worth $821,000 after acquiring an additional 94 shares during the period. Ferguson Wellman Capital Management Inc. lifted its position in Bank of New York Mellon by 0.4% during the third quarter. Ferguson Wellman Capital Management Inc. now owns 24,752 shares of the bank’s stock valued at $2,697,000 after purchasing an additional 96 shares during the period. Leonard Rickey Investment Advisors P.L.L.C. boosted its holdings in Bank of New York Mellon by 1.9% in the third quarter. Leonard Rickey Investment Advisors P.L.L.C. now owns 5,192 shares of the bank’s stock worth $566,000 after purchasing an additional 98 shares during the last quarter. Tiemann Investment Advisors LLC grew its position in Bank of New York Mellon by 2.9% in the 2nd quarter. Tiemann Investment Advisors LLC now owns 3,492 shares of the bank’s stock worth $318,000 after purchasing an additional 100 shares during the period. Finally, Cary Street Partners Investment Advisory LLC raised its stake in Bank of New York Mellon by 13.7% during the 2nd quarter. Cary Street Partners Investment Advisory LLC now owns 828 shares of the bank’s stock valued at $75,000 after buying an additional 100 shares during the last quarter. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Stock Down 2.3%

NYSE BK opened at $118.83 on Friday. The Bank of New York Mellon Corporation has a 52 week low of $70.46 and a 52 week high of $128.76. 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 company has a market capitalization of $81.62 billion, a P/E ratio of 16.04, a price-to-earnings-growth ratio of 1.11 and a beta of 1.10. The stock’s 50-day moving average price is $119.68 and its 200-day moving average price is $112.19.

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

Bank of New York Mellon Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on BK shares. Barclays raised their price target on Bank of New York Mellon from $120.00 to $143.00 and gave the stock an “overweight” rating in a research note on Monday, January 5th. Royal Bank Of Canada increased their target price on Bank of New York Mellon from $124.00 to $130.00 and gave the company a “sector perform” rating in a report on Wednesday, January 14th. TD Cowen boosted their price target on Bank of New York Mellon from $133.00 to $145.00 and gave the company a “buy” rating in a research note on Wednesday, January 7th. Weiss Ratings lowered shares of Bank of New York Mellon from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Friday, February 13th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Bank of New York Mellon from $132.00 to $143.00 and gave the stock an “outperform” rating in a report on Wednesday, January 14th. Eight analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price 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.