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

Cibc World Markets Corp raised its position in The Bank of New York Mellon Co. (NYSE:BK) by 223.1% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 461,982 shares of the bank’s stock after purchasing an additional 319,005 shares during the period. Cibc World Markets Corp owned 0.06% of Bank of New York Mellon worth $35,494,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of BK. Assetmark Inc. boosted its stake in shares of Bank of New York Mellon by 64.7% in the 3rd quarter. Assetmark Inc. now owns 1,869 shares of the bank’s stock valued at $134,000 after purchasing an additional 734 shares during the last quarter. Oppenheimer & Co. Inc. grew its stake in Bank of New York Mellon by 32.5% during the third quarter. Oppenheimer & Co. Inc. now owns 34,403 shares of the bank’s stock worth $2,472,000 after purchasing an additional 8,435 shares during the period. Huntington National Bank grew its stake in Bank of New York Mellon by 5.7% during the third quarter. Huntington National Bank now owns 7,568 shares of the bank’s stock worth $544,000 after purchasing an additional 407 shares during the period. OneDigital Investment Advisors LLC grew its stake in Bank of New York Mellon by 1.0% during the third quarter. OneDigital Investment Advisors LLC now owns 24,941 shares of the bank’s stock worth $1,792,000 after purchasing an additional 259 shares during the period. Finally, CIBC Asset Management Inc grew its stake in Bank of New York Mellon by 5.5% during the third quarter. CIBC Asset Management Inc now owns 127,784 shares of the bank’s stock worth $9,183,000 after purchasing an additional 6,668 shares during the period. 85.31% of the stock is owned by institutional investors.

Bank of New York Mellon Stock Up 2.8 %

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

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share for the quarter, topping analysts’ consensus estimates of $1.54 by $0.18. The company had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.66 billion. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The firm’s quarterly revenue was up 11.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.28 EPS. Analysts expect 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 announced a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Monday, January 27th were paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date of this dividend was Monday, January 27th. Bank of New York Mellon’s payout ratio is 32.36%.

Analysts Set New Price Targets

Several brokerages have recently commented on BK. Barclays raised their price objective on shares of Bank of New York Mellon from $102.00 to $104.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Truist Financial raised their target price on Bank of New York Mellon from $91.00 to $93.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Morgan Stanley lifted their price target on shares of Bank of New York Mellon from $90.00 to $97.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Citigroup lifted their price target on shares of Bank of New York Mellon from $75.00 to $82.00 and gave the company a “neutral” rating in a research report on Monday, November 25th. Finally, Wells Fargo & Company lifted their price objective on shares of Bank of New York Mellon from $86.00 to $96.00 and gave the company an “equal weight” rating in a report on Monday, March 3rd. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, Bank of New York Mellon has a consensus rating of “Moderate Buy” and an average price target of $88.71.

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.