Todd Asset Management LLC Grows Position in The Bank of New York Mellon Corporation $BK

Todd Asset Management LLC increased its holdings in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 126.1% in the third quarter, according to its most recent filing with the SEC. The fund owned 269,856 shares of the bank’s stock after acquiring an additional 150,524 shares during the period. Todd Asset Management LLC’s holdings in Bank of New York Mellon were worth $29,404,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Ashton Thomas Private Wealth LLC raised its position in shares of Bank of New York Mellon by 133.2% during the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 91,762 shares of the bank’s stock worth $9,998,000 after purchasing an additional 52,412 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in shares of Bank of New York Mellon by 35.1% in the third quarter. Jones Financial Companies Lllp now owns 31,848 shares of the bank’s stock worth $3,487,000 after acquiring an additional 8,277 shares during the last quarter. Investment Management Corp of Ontario increased its position in shares of Bank of New York Mellon by 25.9% during the second quarter. Investment Management Corp of Ontario now owns 125,506 shares of the bank’s stock worth $11,435,000 after purchasing an additional 25,842 shares in the last quarter. First National Advisers LLC acquired a new position in Bank of New York Mellon in the 3rd quarter valued at $3,304,000. Finally, First Horizon Corp purchased a new position in Bank of New York Mellon in the 3rd quarter valued at $22,072,000. 85.31% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BK has been the topic of several research reports. Barclays raised their price target on shares of Bank of New York Mellon from $120.00 to $143.00 and gave the stock an “overweight” rating in a research note on Monday, January 5th. New Street Research set a $143.00 target price on shares of Bank of New York Mellon in a research note on Wednesday, January 14th. Citigroup upped their price target on Bank of New York Mellon from $120.00 to $136.00 and gave the company a “neutral” rating in a research report on Wednesday, January 14th. Keefe, Bruyette & Woods lifted their price objective on Bank of New York Mellon from $132.00 to $143.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 14th. Finally, Weiss Ratings downgraded Bank of New York Mellon from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Friday. Eight investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $131.92.

Bank of New York Mellon Stock Up 2.4%

Shares of NYSE:BK opened at $117.67 on Monday. The Bank of New York Mellon Corporation has a fifty-two week low of $70.46 and a fifty-two week high of $128.76. The firm’s 50 day moving average price is $119.16 and its 200 day moving average price is $111.10. The company has a quick ratio of 0.70, a current ratio of 0.71 and a debt-to-equity ratio of 0.81. The stock has a market cap of $82.05 billion, a price-to-earnings ratio of 15.88, a price-to-earnings-growth ratio of 1.10 and a beta of 1.10.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings data on Friday, October 31st. The bank reported $1.91 earnings per share for the quarter. The business had revenue of $5.07 billion for the quarter. Bank of New York Mellon had a net margin of 13.62% and a return on equity of 14.37%. As a group, equities research analysts predict that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 5th. Stockholders of record on Friday, January 23rd were issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend was Friday, January 23rd. Bank of New York Mellon’s payout ratio is presently 28.61%.

About Bank of New York Mellon

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.