Loomis Sayles & Co. L P Has $141,000 Position in The Bank of New York Mellon Co. (NYSE:BK)

Loomis Sayles & Co. L P grew its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 32.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,840 shares of the bank’s stock after buying an additional 446 shares during the quarter. Loomis Sayles & Co. L P’s holdings in Bank of New York Mellon were worth $141,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Graney & King LLC bought a new position in Bank of New York Mellon during the fourth quarter worth about $35,000. Centricity Wealth Management LLC bought a new position in shares of Bank of New York Mellon during the 4th quarter worth approximately $39,000. TCTC Holdings LLC boosted its stake in Bank of New York Mellon by 257.5% in the 4th quarter. TCTC Holdings LLC now owns 597 shares of the bank’s stock valued at $46,000 after buying an additional 430 shares in the last quarter. Modus Advisors LLC bought a new stake in Bank of New York Mellon in the fourth quarter valued at $49,000. Finally, Friedenthal Financial bought a new position in shares of Bank of New York Mellon during the fourth quarter valued at $56,000. 85.31% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $90.00 target price on shares of Bank of New York Mellon in a report on Monday, March 17th. Wolfe Research cut shares of Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. UBS Group lifted their target price on shares of 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. Wells Fargo & Company increased 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 report on Monday, March 3rd. Finally, Evercore ISI lifted their price objective on Bank of New York Mellon from $79.00 to $83.00 and gave the company an “in-line” rating in a research report on Thursday, January 16th. Six 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, the stock has an average rating of “Moderate Buy” and an average price target of $89.71.

Bank of New York Mellon Stock Down 2.1 %

Shares of NYSE:BK opened at $82.67 on Monday. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.69 and a quick ratio of 0.70. The stock has a market cap of $59.35 billion, a price-to-earnings ratio of 14.23, a P/E/G ratio of 0.97 and a beta of 1.06. The company has a 50 day moving average of $85.34 and a 200-day moving average of $79.69. The Bank of New York Mellon Co. has a one year low of $52.64 and a one year high of $90.34.

Bank of New York Mellon (NYSE:BK) last released 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. 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 net margin of 11.35% and a return on equity of 12.68%. The business’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.28 EPS. On average, sell-side analysts forecast that The Bank of New York Mellon Co. will post 6.96 earnings per share 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 annualized dividend and a yield of 2.27%. The ex-dividend date was Monday, January 27th. Bank of New York Mellon’s payout ratio is 32.36%.

Bank of New York Mellon 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.