The Bank of New York Mellon Corporation $BK Shares Acquired by Cullen Investment Group LTD.

Cullen Investment Group LTD. increased its position in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 1,691.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,730 shares of the bank’s stock after acquiring an additional 36,568 shares during the period. Cullen Investment Group LTD.’s holdings in Bank of New York Mellon were worth $4,610,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of BK. Optivise Advisory Services LLC purchased a new stake in Bank of New York Mellon during the fourth quarter worth about $320,000. Foster Group Inc. acquired a new stake in shares of Bank of New York Mellon during the fourth quarter worth about $211,000. Spinnaker Investment Group LLC purchased a new position in shares of Bank of New York Mellon in the fourth quarter valued at approximately $202,000. DAVENPORT & Co LLC grew its holdings in shares of Bank of New York Mellon by 14.7% in the fourth quarter. DAVENPORT & Co LLC now owns 13,217 shares of the bank’s stock valued at $1,534,000 after purchasing an additional 1,689 shares in the last quarter. Finally, Stolper Co grew its holdings in shares of Bank of New York Mellon by 0.4% in the fourth quarter. Stolper Co now owns 79,608 shares of the bank’s stock valued at $9,242,000 after purchasing an additional 301 shares in the last quarter. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Bank of New York Mellon Stock Down 0.1%

Shares of NYSE BK opened at $117.81 on Thursday. The business has a 50-day moving average price of $118.81 and a 200 day moving average price of $113.83. The stock has a market cap of $81.08 billion, a PE ratio of 15.90, a price-to-earnings-growth ratio of 1.10 and a beta of 1.10. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.81. The Bank of New York Mellon Corporation has a 52-week low of $70.46 and a 52-week high of $128.76.

Bank of New York Mellon (NYSE:BK) last announced its earnings results on Tuesday, January 13th. The bank reported $2.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.97 by $0.11. The business had revenue of $5.18 billion for the quarter, compared to analyst estimates of $5.11 billion. Bank of New York Mellon had a net margin of 13.62% and a return on equity of 14.37%. The company’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period last year, the firm posted $1.72 earnings per share. Equities research analysts forecast that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

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

Analysts Set New Price Targets

Several equities analysts have commented on BK shares. New Street Research set a $143.00 price target on shares of Bank of New York Mellon in a research report on Wednesday, January 14th. TD Cowen upped their price objective on Bank of New York Mellon from $133.00 to $145.00 and gave the stock a “buy” rating in a research report on Wednesday, January 7th. Weiss Ratings upgraded Bank of New York Mellon from a “buy (b+)” rating to a “buy (a-)” rating in a report on Wednesday, March 11th. Wells Fargo & Company boosted their target price on Bank of New York Mellon from $119.00 to $122.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 14th. Finally, Morgan Stanley boosted their target price on Bank of New York Mellon from $124.00 to $132.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 14th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Bank of New York Mellon currently has a consensus rating of “Moderate Buy” and an average price target of $131.92.

Bank of New York Mellon Company 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.