OVERSEA CHINESE BANKING Corp Ltd Takes Position in The Bank of New York Mellon Co. (NYSE:BK)

OVERSEA CHINESE BANKING Corp Ltd purchased a new stake in shares of The Bank of New York Mellon Co. (NYSE:BK) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 2,902 shares of the bank’s stock, valued at approximately $223,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Xponance Inc. boosted its position in shares of Bank of New York Mellon by 3.9% during the 4th quarter. Xponance Inc. now owns 124,250 shares of the bank’s stock valued at $9,546,000 after acquiring an additional 4,618 shares during the last quarter. Intech Investment Management LLC lifted its position in Bank of New York Mellon by 151.8% in the fourth quarter. Intech Investment Management LLC now owns 435,303 shares of the bank’s stock valued at $33,444,000 after buying an additional 262,437 shares during the last quarter. Generali Asset Management SPA SGR acquired a new position in Bank of New York Mellon in the fourth quarter valued at about $7,545,000. Horizon Investments LLC lifted its position in Bank of New York Mellon by 1.0% in the fourth quarter. Horizon Investments LLC now owns 19,787 shares of the bank’s stock valued at $1,512,000 after buying an additional 193 shares during the last quarter. Finally, Advisors Asset Management Inc. lifted its position in Bank of New York Mellon by 26.7% in the fourth quarter. Advisors Asset Management Inc. now owns 78,540 shares of the bank’s stock valued at $6,034,000 after buying an additional 16,552 shares during the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Bank of New York Mellon Stock Up 0.0 %

BK stock opened at $83.91 on Friday. The company’s 50 day moving average price is $84.72 and its 200 day moving average price is $78.83. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.70 and a current ratio of 0.69. The Bank of New York Mellon Co. has a fifty-two week low of $52.64 and a fifty-two week high of $90.34. The firm has a market capitalization of $60.24 billion, a price-to-earnings ratio of 14.44, a PEG ratio of 0.97 and a beta of 1.06.

Bank of New York Mellon (NYSE:BK) last released its earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share for the quarter, topping analysts’ consensus estimates of $1.54 by $0.18. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The firm had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.66 billion. During the same period in the prior year, the firm earned $1.28 earnings per share. The business’s quarterly revenue was up 11.2% compared to the same quarter last year. On average, equities research analysts anticipate that The Bank of New York Mellon Co. will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Monday, January 27th were issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date was Monday, January 27th. Bank of New York Mellon’s dividend payout ratio (DPR) is 32.36%.

Analyst Ratings Changes

A number of research analysts have commented on BK shares. Wells Fargo & Company upped their target price on shares of Bank of New York Mellon from $86.00 to $96.00 and gave the company an “equal weight” rating in a research report on Monday, March 3rd. Morgan Stanley upped their target price on shares of Bank of New York Mellon from $90.00 to $97.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Citigroup upped their target price on shares of Bank of New York Mellon from $75.00 to $82.00 and gave the company a “neutral” rating in a research report on Monday, November 25th. Barclays boosted their price target on shares of Bank of New York Mellon from $102.00 to $104.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of Bank of New York Mellon from $94.00 to $98.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Six investment analysts have rated the stock with a hold rating and ten have given a buy 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 $89.50.

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.