The Bank of New York Mellon Corporation $BK Shares Bought by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. lifted its holdings in The Bank of New York Mellon Corporation (NYSE:BK) by 36.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,166,052 shares of the bank’s stock after buying an additional 577,621 shares during the period. Robeco Institutional Asset Management B.V. owned approximately 0.31% of Bank of New York Mellon worth $236,013,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of BK. Westside Investment Management Inc. grew its position in shares of Bank of New York Mellon by 78.9% in the second quarter. Westside Investment Management Inc. now owns 288 shares of the bank’s stock valued at $26,000 after purchasing an additional 127 shares in the last quarter. Hoey Investments Inc. acquired a new position in Bank of New York Mellon during the second quarter worth $32,000. GFG Capital LLC purchased a new stake in Bank of New York Mellon in the 2nd quarter valued at $36,000. Caldwell Trust Co acquired a new stake in shares of Bank of New York Mellon in the 2nd quarter worth $36,000. Finally, Princeton Global Asset Management LLC boosted its position in shares of Bank of New York Mellon by 89.0% during the 2nd quarter. Princeton Global Asset Management LLC now owns 446 shares of the bank’s stock valued at $41,000 after acquiring an additional 210 shares during the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Bank of New York Mellon Trading Up 3.4%

Shares of BK stock opened at $121.03 on Tuesday. The Bank of New York Mellon Corporation has a fifty-two week low of $70.46 and a fifty-two week high of $122.36. The company has a 50 day moving average price of $112.68 and a 200 day moving average price of $105.79. The stock has a market capitalization of $84.40 billion, a P/E ratio of 17.47, a price-to-earnings-growth ratio of 0.96 and a beta of 1.11. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.70 and a current ratio of 0.70.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings results on Friday, October 31st. The bank reported $1.91 EPS for the quarter. Bank of New York Mellon had a net margin of 12.86% and a return on equity of 14.03%. The company had revenue of $5.07 billion during the quarter. Equities research analysts predict that The Bank of New York Mellon Corporation will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 7th. Investors of record on Monday, October 27th were paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend was Monday, October 27th. Bank of New York Mellon’s payout ratio is presently 30.59%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Wells Fargo & Company boosted their target price on shares of Bank of New York Mellon from $100.00 to $109.00 and gave the company an “equal weight” rating in a report on Friday, October 17th. Barclays increased their price objective on Bank of New York Mellon from $120.00 to $143.00 and gave the stock an “overweight” rating in a research report on Monday. Keefe, Bruyette & Woods lifted their target price on Bank of New York Mellon from $120.00 to $124.00 and gave the company an “outperform” rating in a research report on Friday, October 17th. Truist Financial increased their price target on Bank of New York Mellon from $118.00 to $119.00 and gave the stock a “hold” rating in a report on Friday, October 17th. Finally, Morgan Stanley raised their price objective on Bank of New York Mellon from $118.00 to $124.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 17th. Ten analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $113.50.

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.