The Bank of New York Mellon Co. (NYSE:BK) Shares Purchased by Scotia Capital Inc.

Scotia Capital Inc. boosted its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK) by 8.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,527 shares of the bank’s stock after acquiring an additional 1,164 shares during the period. Scotia Capital Inc.’s holdings in Bank of New York Mellon were worth $1,116,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Czech National Bank lifted its stake in Bank of New York Mellon by 4.9% in the 4th quarter. Czech National Bank now owns 157,645 shares of the bank’s stock valued at $12,112,000 after buying an additional 7,316 shares in the last quarter. O Shaughnessy Asset Management LLC lifted its position in shares of Bank of New York Mellon by 11.7% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 786,496 shares of the bank’s stock valued at $60,426,000 after acquiring an additional 82,671 shares in the last quarter. Fifth Third Bancorp increased its position in Bank of New York Mellon by 9.2% during the 4th quarter. Fifth Third Bancorp now owns 94,046 shares of the bank’s stock worth $7,226,000 after purchasing an additional 7,935 shares in the last quarter. Natixis Advisors LLC raised its stake in Bank of New York Mellon by 6.5% in the 4th quarter. Natixis Advisors LLC now owns 285,965 shares of the bank’s stock valued at $21,971,000 after purchasing an additional 17,457 shares during the last quarter. Finally, Western Financial Corp CA purchased a new position in Bank of New York Mellon in the 4th quarter valued at about $342,000. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on BK shares. Truist Financial cut their price objective on shares of Bank of New York Mellon from $93.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, April 4th. Citigroup increased their price target on Bank of New York Mellon from $82.00 to $85.00 and gave the stock a “neutral” rating in a research note on Monday, March 24th. Morgan Stanley lowered their price objective on Bank of New York Mellon from $99.00 to $98.00 and set an “overweight” rating for the company in a research report on Wednesday, April 2nd. UBS Group upped their target price on Bank of New York Mellon from $88.00 to $94.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. Finally, Wolfe Research lowered Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, Bank of New York Mellon has a consensus rating of “Moderate Buy” and a consensus price target of $89.86.

Bank of New York Mellon Price Performance

Bank of New York Mellon stock opened at $77.75 on Monday. The firm has a fifty day moving average of $83.63 and a 200-day moving average of $80.24. The Bank of New York Mellon Co. has a 52-week low of $52.64 and a 52-week high of $90.34. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.83. The firm has a market capitalization of $55.82 billion, a P/E ratio of 13.38, a PEG ratio of 0.97 and a beta of 1.03.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings results on Friday, April 11th. The bank reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.08. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. The firm had revenue of $4.79 billion during the quarter, compared to the consensus estimate of $4.76 billion. During the same period in the prior year, the firm earned $1.29 EPS. The firm’s quarterly revenue was up 5.9% compared to the same quarter last year. As a group, analysts predict 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 business also recently declared a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Monday, January 27th were issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date of this dividend was Monday, January 27th. Bank of New York Mellon’s dividend payout ratio is presently 30.62%.

About Bank of New York Mellon

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.