Danske Bank A S Makes New $65.97 Million Investment in The Bank of New York Mellon Corporation $BK

Danske Bank A S bought a new position in The Bank of New York Mellon Corporation (NYSE:BK) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 605,481 shares of the bank’s stock, valued at approximately $65,973,000. Danske Bank A S owned approximately 0.09% of Bank of New York Mellon at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Valley Wealth Managers Inc. purchased a new position in Bank of New York Mellon during the third quarter worth about $33,000. Caldwell Trust Co purchased a new stake in Bank of New York Mellon in the 2nd quarter valued at about $36,000. Westside Investment Management Inc. lifted its position in shares of Bank of New York Mellon by 44.1% during the 3rd quarter. Westside Investment Management Inc. now owns 415 shares of the bank’s stock worth $45,000 after buying an additional 127 shares in the last quarter. Dunhill Financial LLC lifted its position in shares of Bank of New York Mellon by 130.8% during the 3rd quarter. Dunhill Financial LLC now owns 427 shares of the bank’s stock worth $47,000 after buying an additional 242 shares in the last quarter. Finally, Community Bank N.A. boosted its stake in shares of Bank of New York Mellon by 250.4% in the 3rd quarter. Community Bank N.A. now owns 438 shares of the bank’s stock worth $48,000 after buying an additional 313 shares during the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Price Performance

Shares of NYSE BK opened at $114.61 on Thursday. The stock has a fifty day simple moving average of $119.32 and a two-hundred day simple moving average of $113.42. The Bank of New York Mellon Corporation has a 1-year low of $70.46 and a 1-year high of $128.76. The firm has a market cap of $78.88 billion, a price-to-earnings ratio of 15.47, a price-to-earnings-growth ratio of 1.08 and a beta of 1.10. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.81.

Bank of New York Mellon (NYSE:BK) last issued 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 return on equity of 14.37% and a net margin of 13.62%.The firm had revenue of $5.07 billion for the quarter. Analysts anticipate 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. Investors of record on Friday, January 23rd were paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date was Friday, January 23rd. Bank of New York Mellon’s payout ratio is currently 28.61%.

Wall Street Analysts Forecast Growth

BK has been the subject of a number of research analyst reports. Royal Bank Of Canada increased their price target on Bank of New York Mellon from $124.00 to $130.00 and gave the company a “sector perform” rating in a research report on Wednesday, January 14th. Weiss Ratings raised Bank of New York Mellon from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Wednesday, March 11th. Barclays upped their price objective on Bank of New York Mellon from $120.00 to $143.00 and gave the company an “overweight” rating in a research note on Monday, January 5th. TD Cowen lifted their target price on Bank of New York Mellon from $133.00 to $145.00 and gave the stock a “buy” rating in a research note on Wednesday, January 7th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Bank of New York Mellon from $132.00 to $143.00 and gave the company an “outperform” rating in a research report on Wednesday, January 14th. One investment 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 stock. According to data from MarketBeat.com, the company presently has an average 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.