Resona Asset Management Co. Ltd. Buys 9,519 Shares of The Bank of New York Mellon Corporation $BK

Resona Asset Management Co. Ltd. boosted its stake in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 4.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 243,373 shares of the bank’s stock after purchasing an additional 9,519 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Bank of New York Mellon were worth $22,176,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Revolve Wealth Partners LLC bought a new position in Bank of New York Mellon in the fourth quarter worth approximately $220,000. D.A. Davidson & CO. increased its stake in shares of Bank of New York Mellon by 11.9% in the 1st quarter. D.A. Davidson & CO. now owns 8,194 shares of the bank’s stock worth $687,000 after purchasing an additional 873 shares in the last quarter. TD Private Client Wealth LLC increased its stake in shares of Bank of New York Mellon by 55.9% in the 1st quarter. TD Private Client Wealth LLC now owns 3,516 shares of the bank’s stock worth $295,000 after purchasing an additional 1,261 shares in the last quarter. M&T Bank Corp raised its holdings in Bank of New York Mellon by 1.4% in the 1st quarter. M&T Bank Corp now owns 93,629 shares of the bank’s stock worth $7,853,000 after purchasing an additional 1,258 shares during the period. Finally, Valeo Financial Advisors LLC lifted its position in Bank of New York Mellon by 8.8% during the first quarter. Valeo Financial Advisors LLC now owns 9,835 shares of the bank’s stock valued at $825,000 after purchasing an additional 794 shares in the last quarter. Institutional investors own 85.31% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on BK. Evercore ISI lifted their price objective on Bank of New York Mellon from $91.00 to $110.00 and gave the company an “in-line” rating in a research report on Tuesday, September 30th. Wells Fargo & Company lifted their price target on shares of Bank of New York Mellon from $100.00 to $109.00 and gave the company an “equal weight” rating in a report on Friday, October 17th. The Goldman Sachs Group upped their price target on shares of Bank of New York Mellon from $106.00 to $120.00 and gave the stock a “buy” rating in a research report on Monday, October 6th. Morgan Stanley raised their price objective on shares of Bank of New York Mellon from $101.00 to $116.00 and gave the company an “overweight” rating in a research report on Monday, September 29th. Finally, Weiss Ratings upgraded shares of Bank of New York Mellon from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Friday, October 24th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $111.29.

Bank of New York Mellon Stock Down 0.1%

Shares of NYSE:BK opened at $108.57 on Friday. The company has a market cap of $75.71 billion, a price-to-earnings ratio of 15.67, a PEG ratio of 0.98 and a beta of 1.13. The Bank of New York Mellon Corporation has a 12 month low of $70.46 and a 12 month high of $110.87. The company has a current ratio of 0.70, a quick ratio of 0.72 and a debt-to-equity ratio of 0.83. The company has a 50-day moving average price of $106.98 and a 200 day moving average price of $97.59.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings data on Tuesday, March 26th. The bank reported $1.30 earnings per share (EPS) for the quarter. The business had revenue of $4.38 billion for the quarter. Bank of New York Mellon had a return on equity of 14.03% and a net margin of 12.86%. 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 year.

Bank of New York Mellon Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 7th. Shareholders of record on Monday, October 27th will be paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Monday, October 27th. Bank of New York Mellon’s payout ratio is presently 30.59%.

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.