Cibc World Markets Corp Purchases 319,005 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Cibc World Markets Corp lifted its position in The Bank of New York Mellon Co. (NYSE:BK) by 223.1% during the 4th quarter, HoldingsChannel reports. The firm owned 461,982 shares of the bank’s stock after buying an additional 319,005 shares during the period. Cibc World Markets Corp’s holdings in Bank of New York Mellon were worth $35,494,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Centricity Wealth Management LLC purchased a new stake in shares of Bank of New York Mellon during the 4th quarter valued at $39,000. Modus Advisors LLC purchased a new stake in Bank of New York Mellon during the fourth quarter valued at about $49,000. Friedenthal Financial purchased a new stake in Bank of New York Mellon during the fourth quarter valued at about $56,000. Asset Dedication LLC raised its position in Bank of New York Mellon by 342.1% during the fourth quarter. Asset Dedication LLC now owns 756 shares of the bank’s stock valued at $58,000 after purchasing an additional 585 shares in the last quarter. Finally, Grove Bank & Trust raised its stake in shares of Bank of New York Mellon by 21.0% during the fourth quarter. Grove Bank & Trust now owns 779 shares of the bank’s stock worth $60,000 after acquiring an additional 135 shares in the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Price Performance

BK stock opened at $81.87 on Monday. The Bank of New York Mellon Co. has a 1 year low of $52.64 and a 1 year high of $90.34. The company has a market cap of $58.78 billion, a P/E ratio of 14.09, a PEG ratio of 0.97 and a beta of 1.06. The firm has a 50-day moving average of $84.30 and a 200 day moving average of $78.55. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.69 and a quick ratio of 0.70.

Bank of New York Mellon (NYSE:BK) last announced its earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.18. The firm had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.66 billion. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. The business’s revenue was up 11.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.28 EPS. On average, sell-side analysts forecast that The Bank of New York Mellon Co. will post 6.96 EPS for the current year.

Bank of New York Mellon Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Monday, January 27th were paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date of this dividend was Monday, January 27th. Bank of New York Mellon’s dividend payout ratio is 32.36%.

Analyst Ratings Changes

BK has been the topic of a number of analyst reports. UBS Group lifted their target price on shares of Bank of New York Mellon from $88.00 to $94.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. Bank of America lifted their price objective on Bank of New York Mellon from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Citigroup lifted their price target on Bank of New York Mellon from $75.00 to $82.00 and gave the stock a “neutral” rating in a research note on Monday, November 25th. Wells Fargo & Company lifted their price target on Bank of New York Mellon from $86.00 to $96.00 and gave the stock an “equal weight” rating in a research note on Monday, March 3rd. Finally, Barclays upped their price target on shares of Bank of New York Mellon from $102.00 to $104.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Bank of New York Mellon has a consensus rating of “Moderate Buy” and a consensus price target of $88.71.

Bank of New York Mellon Company Profile

The Bank of New York Mellon Corporation provides a range of financial products and services in the United States and internationally. The company operates through Securities Services, Market and Wealth Services, Investment and Wealth Management, and other segments. The Securities Services segment offers custody, trust and depositary, accounting, exchange-traded funds, middle-office solutions, transfer agency, services for private equity and real estate funds, foreign exchange, securities lending, liquidity/lending services, and data analytics.