Swedbank AB Purchases 4,505 Shares of The Bank of New York Mellon Corporation $BK

Swedbank AB grew its position in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 0.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 869,726 shares of the bank’s stock after purchasing an additional 4,505 shares during the period. Swedbank AB owned about 0.12% of Bank of New York Mellon worth $94,765,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Optas LLC boosted its holdings in Bank of New York Mellon by 4.7% in the third quarter. Optas LLC now owns 3,538 shares of the bank’s stock worth $386,000 after acquiring an additional 160 shares in the last quarter. Cypress Wealth Services LLC bought a new position in Bank of New York Mellon during the third quarter valued at approximately $223,000. Vontobel Holding Ltd. boosted its stake in shares of Bank of New York Mellon by 65.9% in the 3rd quarter. Vontobel Holding Ltd. now owns 228,777 shares of the bank’s stock worth $24,928,000 after buying an additional 90,894 shares during the last quarter. DAVENPORT & Co LLC increased its position in shares of Bank of New York Mellon by 12.1% during the 3rd quarter. DAVENPORT & Co LLC now owns 11,528 shares of the bank’s stock valued at $1,256,000 after purchasing an additional 1,247 shares during the last quarter. Finally, IFM Investors Pty Ltd grew its position in Bank of New York Mellon by 0.8% during the third quarter. IFM Investors Pty Ltd now owns 154,087 shares of the bank’s stock valued at $16,877,000 after buying an additional 1,154 shares during the period. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on BK. Weiss Ratings restated a “buy (b)” rating on shares of Bank of New York Mellon in a research note on Monday, December 15th. TD Cowen increased their target price on Bank of New York Mellon from $130.00 to $133.00 and gave the company a “buy” rating in a research report on Monday, October 20th. Morgan Stanley upped their price objective on Bank of New York Mellon from $118.00 to $124.00 and gave the company an “overweight” rating in a research report on Wednesday, December 17th. Barclays lifted their target price on Bank of New York Mellon from $104.00 to $120.00 and gave the company an “overweight” rating in a research report on Friday, October 17th. Finally, The Goldman Sachs Group lifted their target price on Bank of New York Mellon from $106.00 to $120.00 and gave the company a “buy” rating in a research note on Monday, October 6th. Ten research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, Bank of New York Mellon has a consensus rating of “Moderate Buy” and a consensus price target of $111.86.

Bank of New York Mellon Stock Performance

Shares of Bank of New York Mellon stock opened at $117.69 on Thursday. The company has a 50 day moving average price of $111.03 and a 200 day moving average price of $104.15. The firm has a market capitalization of $82.07 billion, a P/E ratio of 16.98, a PEG ratio of 1.06 and a beta of 1.12. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.83. The Bank of New York Mellon Corporation has a 52 week low of $70.46 and a 52 week high of $119.40.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings results on Friday, October 31st. The bank reported $1.91 earnings per share (EPS) for the quarter. The business had revenue of $5.07 billion during the quarter. Bank of New York Mellon had a net margin of 12.86% and a return on equity of 14.03%. Sell-side analysts expect that The Bank of New York Mellon Corporation will post 6.96 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 7th. Stockholders of record on Monday, October 27th were paid a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 1.8%. The ex-dividend date was Monday, October 27th. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 30.59%.

Bank of New York Mellon 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.