Commerzbank Aktiengesellschaft FI Grows Stock Position in The Bank of New York Mellon Co. (NYSE:BK)

Commerzbank Aktiengesellschaft FI lifted its stake in The Bank of New York Mellon Co. (NYSE:BK) by 101.9% in the fourth quarter, HoldingsChannel reports. The firm owned 10,200 shares of the bank’s stock after acquiring an additional 5,149 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in Bank of New York Mellon were worth $787,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. State Street Corp boosted its holdings in Bank of New York Mellon by 2.0% in the third quarter. State Street Corp now owns 33,313,594 shares of the bank’s stock valued at $2,393,915,000 after purchasing an additional 659,096 shares during the period. FMR LLC boosted its holdings in Bank of New York Mellon by 78.6% in the third quarter. FMR LLC now owns 19,338,722 shares of the bank’s stock valued at $1,389,680,000 after purchasing an additional 8,512,404 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Bank of New York Mellon by 1.8% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,634,088 shares of the bank’s stock valued at $476,726,000 after purchasing an additional 117,974 shares during the period. Wellington Management Group LLP boosted its holdings in Bank of New York Mellon by 2,707.1% in the third quarter. Wellington Management Group LLP now owns 3,258,967 shares of the bank’s stock valued at $234,189,000 after purchasing an additional 3,142,869 shares during the period. Finally, Franklin Resources Inc. boosted its holdings in Bank of New York Mellon by 8.3% in the third quarter. Franklin Resources Inc. now owns 2,252,729 shares of the bank’s stock valued at $172,348,000 after purchasing an additional 173,347 shares during the period. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Bank of America lifted their target price on Bank of New York Mellon from $90.00 to $95.00 and gave the company a “buy” rating in a report on Thursday, January 16th. 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 report on Monday. StockNews.com downgraded Bank of New York Mellon from a “buy” rating to a “hold” rating in a report on Wednesday, February 19th. Wolfe Research downgraded Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. Finally, Keefe, Bruyette & Woods lifted their price target on Bank of New York Mellon from $87.00 to $96.00 and gave the stock an “outperform” rating in a report on Tuesday, December 3rd. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $88.71.

Bank of New York Mellon Stock Down 3.2 %

BK opened at $85.56 on Wednesday. The business’s 50-day simple moving average is $83.39 and its 200-day simple moving average is $77.60. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.70 and a current ratio of 0.69. The Bank of New York Mellon Co. has a one year low of $52.64 and a one year high of $90.34. The stock has a market capitalization of $61.29 billion, a P/E ratio of 14.73, a price-to-earnings-growth ratio of 0.97 and a beta of 1.06.

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

Bank of New York Mellon Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Monday, January 27th were given a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 2.20%. The ex-dividend date was Monday, January 27th. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 32.36%.

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.