TD Waterhouse Canada Inc. Purchases 46,495 Shares of The Bank of New York Mellon Corporation $BK

TD Waterhouse Canada Inc. raised its position in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 23.1% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 248,125 shares of the bank’s stock after purchasing an additional 46,495 shares during the period. TD Waterhouse Canada Inc.’s holdings in Bank of New York Mellon were worth $26,539,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of BK. Norges Bank purchased a new position in Bank of New York Mellon during the second quarter valued at $1,081,847,000. Qube Research & Technologies Ltd purchased a new stake in shares of Bank of New York Mellon during the second quarter valued at approximately $135,728,000. Geode Capital Management LLC increased its position in shares of Bank of New York Mellon by 4.3% during the second quarter. Geode Capital Management LLC now owns 18,898,373 shares of the bank’s stock valued at $1,717,074,000 after acquiring an additional 785,478 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Bank of New York Mellon during the 2nd quarter valued at $61,851,000. Finally, Robeco Institutional Asset Management B.V. raised its stake in shares of Bank of New York Mellon by 36.4% in the third quarter. Robeco Institutional Asset Management B.V. now owns 2,166,052 shares of the bank’s stock worth $236,013,000 after purchasing an additional 577,621 shares during the last quarter. 85.31% of the stock is currently owned by institutional investors.

Bank of New York Mellon Trading Up 0.0%

Shares of BK stock opened at $118.87 on Thursday. The Bank of New York Mellon Corporation has a 52-week low of $70.46 and a 52-week high of $125.89. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.70 and a current ratio of 0.71. The firm has a market capitalization of $82.89 billion, a PE ratio of 16.04, a PEG ratio of 1.11 and a beta of 1.11. The stock has a fifty day simple moving average of $116.63 and a two-hundred day simple moving average of $109.13.

Bank of New York Mellon (NYSE:BK) last posted its earnings results on Friday, October 31st. The bank reported $1.91 earnings per share for the quarter. The company had revenue of $5.07 billion during the quarter. Bank of New York Mellon had a net margin of 13.62% and a return on equity of 14.37%. On average, 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 firm also recently announced a quarterly dividend, which will be paid on Thursday, February 5th. Stockholders of record on Friday, January 23rd will be given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Friday, January 23rd. Bank of New York Mellon’s dividend payout ratio is currently 28.61%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Citigroup raised their price target on shares of Bank of New York Mellon from $120.00 to $136.00 and gave the company a “neutral” rating in a report on Wednesday, January 14th. Barclays raised their target price on shares of Bank of New York Mellon from $120.00 to $143.00 and gave the stock an “overweight” rating in a report on Monday, January 5th. Royal Bank Of Canada boosted their target price on shares of Bank of New York Mellon from $124.00 to $130.00 and gave the company a “sector perform” rating in a research note on Wednesday, January 14th. BMO Capital Markets began coverage on Bank of New York Mellon in a report on Friday, October 3rd. They issued an “outperform” rating and a $125.00 target price on the stock. Finally, Truist Financial raised shares of Bank of New York Mellon from a “hold” rating to a “buy” rating and upped their price target for the company from $119.00 to $134.00 in a research report on Wednesday, January 7th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $131.92.

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.