The Bank of New York Mellon Co. (NYSE:BK) Stake Raised by Bokf Na

Bokf Na raised its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 9.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 57,149 shares of the bank’s stock after acquiring an additional 4,715 shares during the quarter. Bokf Na’s holdings in Bank of New York Mellon were worth $3,423,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. Norges Bank acquired a new position in shares of Bank of New York Mellon in the 4th quarter valued at $813,701,000. Vanguard Group Inc. boosted its holdings in shares of Bank of New York Mellon by 6.1% in the fourth quarter. Vanguard Group Inc. now owns 74,501,451 shares of the bank’s stock worth $3,877,801,000 after buying an additional 4,293,751 shares during the period. KBC Group NV increased its position in shares of Bank of New York Mellon by 217.0% in the fourth quarter. KBC Group NV now owns 1,528,492 shares of the bank’s stock worth $79,558,000 after acquiring an additional 1,046,298 shares in the last quarter. Panagora Asset Management Inc. raised its holdings in shares of Bank of New York Mellon by 6,040.9% during the second quarter. Panagora Asset Management Inc. now owns 1,037,806 shares of the bank’s stock valued at $62,154,000 after acquiring an additional 1,020,906 shares during the period. Finally, M&G Plc purchased a new stake in shares of Bank of New York Mellon in the 1st quarter valued at approximately $55,543,000. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Price Performance

NYSE BK opened at $68.70 on Friday. The company has a 50 day moving average price of $64.99 and a two-hundred day moving average price of $60.11. The Bank of New York Mellon Co. has a 12-month low of $39.66 and a 12-month high of $69.74. The stock has a market capitalization of $50.70 billion, a PE ratio of 15.90, a price-to-earnings-growth ratio of 1.17 and a beta of 1.08. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.85.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings data on Friday, July 12th. The bank reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.08. The business had revenue of $4.60 billion during the quarter, compared to analyst estimates of $4.53 billion. Bank of New York Mellon had a net margin of 9.40% and a return on equity of 11.87%. Bank of New York Mellon’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.38 EPS. As a group, equities analysts predict that The Bank of New York Mellon Co. will post 5.63 earnings per share for the current fiscal year.

Bank of New York Mellon Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 2nd. Stockholders of record on Monday, July 22nd were paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 2.74%. The ex-dividend date of this dividend was Monday, July 22nd. This is an increase from Bank of New York Mellon’s previous quarterly dividend of $0.42. Bank of New York Mellon’s dividend payout ratio is 43.52%.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Barclays lifted their price objective on shares of Bank of New York Mellon from $68.00 to $75.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. Citigroup lowered Bank of New York Mellon from a “buy” rating to a “neutral” rating and set a $65.00 price target on the stock. in a research report on Monday, July 15th. Evercore ISI raised their price objective on Bank of New York Mellon from $61.00 to $66.00 and gave the stock an “in-line” rating in a research report on Monday, July 15th. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $75.00 target price (up previously from $70.00) on shares of Bank of New York Mellon in a report on Monday, July 15th. Finally, Morgan Stanley increased their price target on shares of Bank of New York Mellon from $65.00 to $72.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 30th. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $66.14.

Insider Activity

In other news, VP Hanneke Smits sold 15,000 shares of Bank of New York Mellon stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $64.11, for a total value of $961,650.00. Following the transaction, the vice president now owns 173,930 shares of the company’s stock, valued at $11,150,652.30. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.14% of the stock is currently owned by insiders.

Bank of New York Mellon Profile

The Bank of New York Mellon Corporation provides a range of financial products and services in the United States and internationally. The company operates through Securities Services, Market and Wealth Services, Investment and Wealth Management, and other segments. The Securities Services segment offers custody, trust and depositary, accounting, exchange-traded funds, middle-office solutions, transfer agency, services for private equity and real estate funds, foreign exchange, securities lending, liquidity/lending services, and data analytics.