The Bank of New York Mellon Corporation $BK Shares Acquired by Newbridge Financial Services Group Inc.

Newbridge Financial Services Group Inc. increased its position in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 159,255.6% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 28,684 shares of the bank’s stock after purchasing an additional 28,666 shares during the period. Newbridge Financial Services Group Inc.’s holdings in Bank of New York Mellon were worth $3,125,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in shares of Bank of New York Mellon during the second quarter worth $1,081,847,000. Qube Research & Technologies Ltd acquired a new position in shares of Bank of New York Mellon in the 2nd quarter valued at about $135,728,000. Robeco Institutional Asset Management B.V. boosted its holdings in shares of Bank of New York Mellon by 36.4% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 2,166,052 shares of the bank’s stock valued at $236,013,000 after buying an additional 577,621 shares during the period. Bank of Nova Scotia grew its position in shares of Bank of New York Mellon by 698.6% during the 2nd quarter. Bank of Nova Scotia now owns 651,135 shares of the bank’s stock valued at $59,325,000 after buying an additional 569,602 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Bank of New York Mellon by 0.7% during the 2nd quarter. Vanguard Group Inc. now owns 71,092,148 shares of the bank’s stock valued at $6,477,206,000 after buying an additional 517,081 shares during the last quarter. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Trading Down 0.8%

Shares of NYSE:BK opened at $116.18 on Friday. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.81. The company’s 50-day moving average price is $119.65 and its 200 day moving average price is $113.16. The company has a market cap of $79.96 billion, a PE ratio of 15.68, a P/E/G ratio of 1.09 and a beta of 1.10. 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.

Bank of New York Mellon (NYSE:BK) last posted its 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 13.62% and a return on equity of 14.37%. The firm had revenue of $5.07 billion during the quarter. Sell-side analysts anticipate that The Bank of New York Mellon Corporation will post 6.96 earnings per share 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 dividend of $0.53 per share. The ex-dividend date was Friday, January 23rd. This represents a $2.12 annualized dividend and a dividend yield of 1.8%. Bank of New York Mellon’s payout ratio is currently 28.61%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Weiss Ratings raised shares of Bank of New York Mellon from a “buy (b+)” rating to a “buy (a-)” rating in a report on Wednesday. Wells Fargo & Company upped their target price on Bank of New York Mellon from $119.00 to $122.00 and gave the company an “equal weight” rating in a report on Wednesday, January 14th. New Street Research set a $143.00 price target on Bank of New York Mellon in a research report on Wednesday, January 14th. Keefe, Bruyette & Woods raised their price target on Bank of New York Mellon from $132.00 to $143.00 and gave the stock an “outperform” rating in a report on Wednesday, January 14th. Finally, Truist Financial raised Bank of New York Mellon from a “hold” rating to a “buy” rating and raised their price target for the stock from $119.00 to $134.00 in a report on Wednesday, January 7th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Bank of New York Mellon currently has an average rating of “Moderate Buy” and a consensus price target 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.