The Bank of New York Mellon Corporation $BK Shares Bought by Fidelis Capital Partners LLC

Fidelis Capital Partners LLC lifted its stake in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 214.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 12,020 shares of the bank’s stock after purchasing an additional 8,195 shares during the quarter. Fidelis Capital Partners LLC’s holdings in Bank of New York Mellon were worth $1,310,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the stock. TD Waterhouse Canada Inc. increased its position in Bank of New York Mellon by 23.1% in the third quarter. TD Waterhouse Canada Inc. now owns 248,125 shares of the bank’s stock worth $26,539,000 after buying an additional 46,495 shares during the period. Coastal Bridge Advisors LLC bought a new position in shares of Bank of New York Mellon during the third quarter worth about $213,000. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Bank of New York Mellon by 24.1% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 219,408 shares of the bank’s stock worth $23,907,000 after acquiring an additional 42,555 shares during the last quarter. Ballentine Partners LLC increased its holdings in shares of Bank of New York Mellon by 0.9% in the 3rd quarter. Ballentine Partners LLC now owns 18,981 shares of the bank’s stock worth $2,068,000 after acquiring an additional 177 shares during the period. Finally, Rockline Wealth Management LLC bought a new stake in Bank of New York Mellon in the 3rd quarter valued at about $217,000. Institutional investors own 85.31% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on BK. Truist Financial upgraded shares of Bank of New York Mellon from a “hold” rating to a “buy” rating and upped their target price for the stock from $119.00 to $134.00 in a research report on Wednesday, January 7th. BMO Capital Markets assumed coverage on Bank of New York Mellon in a report on Friday, October 3rd. They issued an “outperform” rating and a $125.00 price objective for the company. TD Cowen raised their target price on Bank of New York Mellon from $133.00 to $145.00 and gave the company a “buy” rating in a research report on Wednesday, January 7th. The Goldman Sachs Group boosted their price target on 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. Finally, Wells Fargo & Company increased their price target on Bank of New York Mellon from $119.00 to $122.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 14th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $131.92.

Bank of New York Mellon Price Performance

Shares of NYSE:BK opened at $121.33 on Friday. The stock has a market cap of $84.61 billion, a price-to-earnings ratio of 16.37, a PEG ratio of 1.11 and a beta of 1.11. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.71 and a quick ratio of 0.70. The Bank of New York Mellon Corporation has a 12 month low of $70.46 and a 12 month high of $125.89. The stock’s 50 day moving average price is $116.93 and its 200 day moving average price is $109.21.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings results on Friday, October 31st. The bank reported $1.91 earnings per share (EPS) for the quarter. Bank of New York Mellon had a return on equity of 14.37% and a net margin of 13.62%.The company had revenue of $5.07 billion for the quarter. Equities research analysts anticipate that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current fiscal year.

Bank of New York Mellon Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 5th. Shareholders of record on Friday, January 23rd will be given a $0.53 dividend. The ex-dividend date is Friday, January 23rd. This represents a $2.12 annualized dividend and a yield of 1.7%. Bank of New York Mellon’s payout ratio is 28.61%.

Bank of New York Mellon Profile

Bank of New York Mellon Corporation (BNY Mellon) is a global financial services company headquartered in New York City that provides a wide range of asset servicing, custody, and related financial infrastructure solutions to institutional clients. Its core businesses include custody and asset servicing, clearing and collateral management, treasury services, securities lending, corporate trust services, and depositary receipt administration. The company also offers investment management and advisory services through its asset management arm and provides technology-enabled solutions for trade processing, foreign exchange, and liquidity management.

BNY Mellon serves a broad client base that includes asset managers, pension funds, corporations, banks, broker-dealers and sovereign entities.