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

Key Points

• Barclays PLC increased its stake in The Bank of New York Mellon by 1.4% in Q3 to 2,372,430 shares (about $258.5 million), representing roughly 0.34% of the company.
• Analysts hold a consensus rating of "Moderate Buy" with a $131.92 average price target; several firms recently raised targets (e.g., Morgan Stanley to $132, TD Cowen to $145), with 8 Buy and 4 Hold ratings.
• Institutional investors own about 85.31% of BK, led by large positions from Vanguard, Geode and recent moves by Robeco and Norges Bank; the stock has a market cap of ~$79.2B, P/E of 15.6 and a 1.8% dividend yield ($0.53 quarterly).

Barclays PLC lifted its position in shares of The Bank of New York Mellon Corporation (NYSE:BK - Free Report) by 1.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,372,430 shares of the bank's stock after acquiring an additional 31,643 shares during the quarter. Barclays PLC owned 0.34% of Bank of New York Mellon worth $258,500,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of BK. Vanguard Group Inc. boosted its position in Bank of New York Mellon by 0.7% during the second quarter. Vanguard Group Inc. now owns 71,092,148 shares of the bank's stock worth $6,477,206,000 after purchasing an additional 517,081 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Bank of New York Mellon by 4.3% during the 2nd quarter. Geode Capital Management LLC now owns 18,898,373 shares of the bank's stock worth $1,717,074,000 after buying an additional 785,478 shares during the last quarter. Artisan Partners Limited Partnership boosted its position in shares of Bank of New York Mellon by 0.9% in the 2nd quarter. Artisan Partners Limited Partnership now owns 15,803,214 shares of the bank's stock worth $1,439,831,000 after buying an additional 139,544 shares in the last quarter. Norges Bank acquired a new stake in Bank of New York Mellon in the 2nd quarter valued at about $1,081,847,000. Finally, Robeco Institutional Asset Management B.V. increased its holdings in Bank of New York Mellon by 36.4% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 2,166,052 shares of the bank's stock valued at $236,013,000 after acquiring an additional 577,621 shares in the last quarter. Institutional investors and hedge funds own 85.31% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on BK shares. Morgan Stanley lifted their price objective on Bank of New York Mellon from $124.00 to $132.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 14th. Royal Bank Of Canada boosted their price target on 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. Citigroup initiated coverage on Bank of New York Mellon in a research note on Monday, February 23rd. They set a "neutral" rating on the stock. New Street Research set a $143.00 target price on shares of Bank of New York Mellon in a research note on Wednesday, January 14th. Finally, TD Cowen raised their price target 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. Eight analysts have rated the stock with a Buy rating and four have assigned a Hold 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 $131.92.

Bank of New York Mellon Price Performance

BK stock opened at $115.22 on Friday. The stock has a market capitalization of $79.15 billion, a price-to-earnings ratio of 15.55, a price-to-earnings-growth ratio of 1.09 and a beta of 1.10. 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 52-week low of $70.46 and a 52-week high of $128.76. The stock's fifty day simple moving average is $119.69 and its 200-day simple moving average is $112.66.

Bank of New York Mellon (NYSE:BK - Get Free Report) last released its earnings results on Friday, October 31st. The bank reported $1.91 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 firm had revenue of $5.07 billion during the quarter. Equities research analysts expect that The Bank of New York Mellon Corporation will post 6.96 EPS 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. Stockholders of record on Friday, January 23rd were paid a dividend of $0.53 per share. The ex-dividend date of this dividend was Friday, January 23rd. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.8%. Bank of New York Mellon's dividend payout ratio is currently 28.61%.

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.

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