Barclays PLC Boosts Stock Holdings in The Bank of New York Mellon Corporation $BK

Barclays PLC raised its stake in The Bank of New York Mellon Corporation (NYSE:BK) by 1.4% during the third quarter, Holdings Channel reports. The firm owned 2,372,430 shares of the bank’s stock after purchasing an additional 31,643 shares during the period. Barclays PLC’s holdings in Bank of New York Mellon were worth $258,500,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in BK. Revolve Wealth Partners LLC purchased a new stake in Bank of New York Mellon during the fourth quarter valued at about $220,000. Sivia Capital Partners LLC lifted its stake in shares of Bank of New York Mellon by 36.6% in the 2nd quarter. Sivia Capital Partners LLC now owns 3,394 shares of the bank’s stock valued at $309,000 after purchasing an additional 909 shares in the last quarter. Ignite Planners LLC purchased a new stake in shares of Bank of New York Mellon during the 2nd quarter worth about $240,000. Versor Investments LP acquired a new stake in Bank of New York Mellon during the 2nd quarter worth approximately $266,000. Finally, Resona Asset Management Co. Ltd. raised its holdings in Bank of New York Mellon by 4.1% in the second quarter. Resona Asset Management Co. Ltd. now owns 243,373 shares of the bank’s stock valued at $22,176,000 after buying an additional 9,519 shares during the period. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Bank of New York Mellon Stock Down 1.3%

NYSE BK opened at $115.22 on Friday. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.81. The Bank of New York Mellon Corporation has a fifty-two week low of $70.46 and a fifty-two week high of $128.76. The business has a 50 day moving average price of $119.69 and a two-hundred day moving average price of $112.66. The stock has a market cap of $79.15 billion, a PE ratio of 15.55, a P/E/G ratio of 1.09 and a beta of 1.10.

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

Bank of New York Mellon Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 5th. Shareholders of record on Friday, January 23rd were given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend was Friday, January 23rd. Bank of New York Mellon’s dividend payout ratio is presently 28.61%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. TD Cowen boosted their price objective on shares of Bank of New York Mellon from $133.00 to $145.00 and gave the stock a “buy” rating in a research note on Wednesday, January 7th. Morgan Stanley raised their target price on shares of Bank of New York Mellon from $124.00 to $132.00 and gave the company an “overweight” rating in a research note on Wednesday, January 14th. Keefe, Bruyette & Woods lifted their target price on shares of Bank of New York Mellon from $132.00 to $143.00 and gave the company an “outperform” rating in a report on Wednesday, January 14th. Citigroup began coverage on shares of Bank of New York Mellon in a research report on Monday, February 23rd. They set a “neutral” rating for the company. Finally, Barclays increased their price target on Bank of New York Mellon from $120.00 to $143.00 and gave the company an “overweight” rating in a report on Monday, January 5th. Eight research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $131.92.

Bank of New York Mellon Company 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.