The Bank of New York Mellon Corporation $BK Shares Bought by LFL Advisers LLC

LFL Advisers LLC grew its holdings in The Bank of New York Mellon Corporation (NYSE:BK) by 3.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 450,099 shares of the bank’s stock after purchasing an additional 13,160 shares during the quarter. Bank of New York Mellon makes up approximately 17.0% of LFL Advisers LLC’s portfolio, making the stock its 2nd largest holding. LFL Advisers LLC owned 0.06% of Bank of New York Mellon worth $49,043,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Mackenzie Financial Corp lifted its stake in Bank of New York Mellon by 0.4% in the 3rd quarter. Mackenzie Financial Corp now owns 101,642 shares of the bank’s stock valued at $11,075,000 after buying an additional 381 shares in the last quarter. Bank of Montreal Can raised its holdings in shares of Bank of New York Mellon by 27.8% in the third quarter. Bank of Montreal Can now owns 904,450 shares of the bank’s stock worth $98,549,000 after acquiring an additional 196,895 shares during the last quarter. Sienna Gestion acquired a new stake in shares of Bank of New York Mellon during the third quarter valued at $12,110,000. Russell Investments Group Ltd. increased its position in Bank of New York Mellon by 52.0% during the 3rd quarter. Russell Investments Group Ltd. now owns 889,460 shares of the bank’s stock worth $96,991,000 after purchasing an additional 304,346 shares in the last quarter. Finally, Private Advisor Group LLC increased its position in Bank of New York Mellon by 2.6% during the 3rd quarter. Private Advisor Group LLC now owns 58,282 shares of the bank’s stock worth $6,350,000 after purchasing an additional 1,482 shares in the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on BK. Morgan Stanley lifted their price target on shares of Bank of New York Mellon from $124.00 to $132.00 and gave the stock an “overweight” rating in a report on Wednesday, January 14th. 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. Weiss Ratings lowered Bank of New York Mellon from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Friday, February 13th. Wells Fargo & Company raised their price objective on Bank of New York Mellon from $119.00 to $122.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 14th. Finally, Royal Bank Of Canada raised their price target on Bank of New York Mellon from $124.00 to $130.00 and gave the stock a “sector perform” rating in a research note on Wednesday, January 14th. Eight analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $131.92.

Bank of New York Mellon Price Performance

BK stock opened at $117.20 on Thursday. The company has a market cap of $80.66 billion, a PE ratio of 15.82, a price-to-earnings-growth ratio of 1.08 and a beta of 1.10. The Bank of New York Mellon Corporation has a 12-month low of $70.46 and a 12-month high of $128.76. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.81. The stock has a 50-day moving average price of $119.64 and a two-hundred day moving average price of $113.04.

Bank of New York Mellon (NYSE:BK) last issued its 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 return on equity of 14.37% and a net margin of 13.62%. As a group, research analysts predict that The Bank of New York Mellon Corporation will post 6.96 EPS for the current year.

Bank of New York Mellon Announces Dividend

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

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.