CIBC Bancorp USA Inc. Acquires New Holdings in The Bank of New York Mellon Corporation $BK

CIBC Bancorp USA Inc. bought a new position in shares of The Bank of New York Mellon Corporation (NYSE:BK) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 97,663 shares of the bank’s stock, valued at approximately $10,641,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Norges Bank purchased a new position in shares of Bank of New York Mellon in the 2nd quarter valued at $1,081,847,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Bank of New York Mellon by 639.5% during the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,076,729 shares of the bank’s stock worth $771,080,000 after purchasing an additional 6,119,749 shares during the last quarter. Ameriprise Financial Inc. boosted its position in Bank of New York Mellon by 18.0% during the third quarter. Ameriprise Financial Inc. now owns 13,345,266 shares of the bank’s stock valued at $1,454,116,000 after purchasing an additional 2,034,781 shares in the last quarter. Qube Research & Technologies Ltd bought a new stake in Bank of New York Mellon during the second quarter valued at about $135,728,000. Finally, AQR Capital Management LLC grew its stake in Bank of New York Mellon by 29.1% in the third quarter. AQR Capital Management LLC now owns 4,023,663 shares of the bank’s stock valued at $438,418,000 after purchasing an additional 906,218 shares during the last quarter. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Price Performance

Shares of BK opened at $114.90 on Friday. The business’s 50-day moving average is $119.21 and its two-hundred day moving average is $113.44. The company has a market capitalization of $79.08 billion, a P/E ratio of 15.51, a P/E/G ratio of 1.07 and a beta of 1.10. 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 company has a debt-to-equity ratio of 0.81, a quick ratio of 0.71 and a current ratio of 0.71.

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

Bank of New York Mellon Dividend Announcement

The business also recently disclosed 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 annualized dividend and a yield of 1.8%. The ex-dividend date was Friday, January 23rd. Bank of New York Mellon’s dividend payout ratio is currently 28.61%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on BK shares. Royal Bank Of Canada boosted their target price on shares of Bank of New York Mellon from $124.00 to $130.00 and gave the stock a “sector perform” rating in a report on Wednesday, January 14th. Keefe, Bruyette & Woods lifted their price objective on shares of Bank of New York Mellon from $132.00 to $143.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 14th. Weiss Ratings upgraded shares of Bank of New York Mellon from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Wednesday, March 11th. Morgan Stanley increased 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 report on Wednesday, January 14th. Finally, Truist Financial upgraded shares of Bank of New York Mellon from a “hold” rating to a “buy” rating and raised their target price for the company from $119.00 to $134.00 in a research note on Wednesday, January 7th. 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 stock. Based on data from MarketBeat.com, Bank of New York Mellon currently has a consensus rating of “Moderate Buy” and an average target price of $131.92.

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.