Mediolanum International Funds Ltd Takes $1.22 Million Position in The Bank of New York Mellon Co. (NYSE:BK)

Mediolanum International Funds Ltd purchased a new stake in The Bank of New York Mellon Co. (NYSE:BK) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 15,875 shares of the bank’s stock, valued at approximately $1,221,000.

A number of other hedge funds have also made changes to their positions in BK. NewEdge Advisors LLC increased its position in shares of Bank of New York Mellon by 66.8% in the second quarter. NewEdge Advisors LLC now owns 28,596 shares of the bank’s stock valued at $1,713,000 after buying an additional 11,457 shares in the last quarter. Centaurus Financial Inc. raised its stake in Bank of New York Mellon by 37.7% in the 2nd quarter. Centaurus Financial Inc. now owns 6,580 shares of the bank’s stock valued at $394,000 after purchasing an additional 1,803 shares during the last quarter. Czech National Bank raised its stake in Bank of New York Mellon by 5.5% in the 3rd quarter. Czech National Bank now owns 150,329 shares of the bank’s stock valued at $10,803,000 after purchasing an additional 7,825 shares during the last quarter. Park Avenue Securities LLC raised its stake in Bank of New York Mellon by 74.9% in the 3rd quarter. Park Avenue Securities LLC now owns 28,540 shares of the bank’s stock valued at $2,051,000 after purchasing an additional 12,218 shares during the last quarter. Finally, Handelsbanken Fonder AB raised its stake in Bank of New York Mellon by 8.0% in the 3rd quarter. Handelsbanken Fonder AB now owns 279,329 shares of the bank’s stock valued at $20,073,000 after purchasing an additional 20,772 shares during the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on BK. Wolfe Research downgraded shares of Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. StockNews.com raised shares of Bank of New York Mellon from a “hold” rating to a “buy” rating in a research note on Tuesday, January 28th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Bank of New York Mellon from $94.00 to $98.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Wells Fargo & Company upped their price objective on shares of Bank of New York Mellon from $82.00 to $86.00 and gave the company an “equal weight” rating in a research note on Thursday, January 16th. Finally, Citigroup upped their price objective on shares of Bank of New York Mellon from $75.00 to $82.00 and gave the company a “neutral” rating in a research note on Monday, November 25th. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $88.00.

Bank of New York Mellon Stock Down 0.6 %

NYSE BK opened at $86.01 on Monday. The stock has a market cap of $62.53 billion, a PE ratio of 14.80, a P/E/G ratio of 0.98 and a beta of 1.08. The Bank of New York Mellon Co. has a fifty-two week low of $52.64 and a fifty-two week high of $87.70. The business has a 50 day moving average price of $80.29 and a two-hundred day moving average price of $73.97. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.83.

Bank of New York Mellon (NYSE:BK) last released its earnings results on Wednesday, January 15th. The bank reported $1.72 EPS for the quarter, beating the consensus estimate of $1.54 by $0.18. The company had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.66 billion. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. The business’s revenue was up 11.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.28 EPS. As a group, sell-side analysts predict that The Bank of New York Mellon Co. will post 6.86 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Monday, January 27th will be paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 2.19%. The ex-dividend date is Monday, January 27th. Bank of New York Mellon’s dividend payout ratio (DPR) is currently 32.36%.

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.