The Bank of New York Mellon Corporation $BK Shares Purchased by Bank of Montreal Can

Key Points

• Bank of Montreal (Canada) increased its stake in The Bank of New York Mellon by 27.8% to 904,450 shares—about 0.13% of the company—valued at roughly $98.55 million at the end of the quarter.
• Analysts have become more bullish, with several firms raising price targets (many to $143); MarketBeat shows a consensus rating of Moderate Buy and an average target price of $131.92.
• BNY Mellon reported quarterly EPS of $1.91 on $5.07 billion in revenue, has a market cap of $80.66 billion and a P/E of 15.82, and pays a $0.53 quarterly dividend (annualized $2.12, yield 1.8%).

Bank of Montreal Can boosted its position in shares of The Bank of New York Mellon Corporation (NYSE:BK - Free Report) by 27.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 904,450 shares of the bank's stock after buying an additional 196,895 shares during the quarter. Bank of Montreal Can owned approximately 0.13% of Bank of New York Mellon worth $98,549,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Valley Wealth Managers Inc. purchased a new position in shares of Bank of New York Mellon in the 3rd quarter valued at about $33,000. Caldwell Trust Co purchased a new position in Bank of New York Mellon during the second quarter worth approximately $36,000. Westside Investment Management Inc. boosted its position in Bank of New York Mellon by 44.1% during the third quarter. Westside Investment Management Inc. now owns 415 shares of the bank's stock worth $45,000 after purchasing an additional 127 shares in the last quarter. Dunhill Financial LLC grew its holdings in Bank of New York Mellon by 130.8% in the third quarter. Dunhill Financial LLC now owns 427 shares of the bank's stock valued at $47,000 after purchasing an additional 242 shares during the period. Finally, Twin Peaks Wealth Advisors LLC acquired a new stake in Bank of New York Mellon in the second quarter valued at approximately $52,000. Hedge funds and other institutional investors own 85.31% of the company's stock.

Bank of New York Mellon Price Performance

Shares of NYSE BK opened at $117.20 on Thursday. The firm has a 50-day simple moving average of $119.64 and a 200-day simple moving average of $113.04. 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 stock has a market capitalization of $80.66 billion, a price-to-earnings ratio of 15.82, a price-to-earnings-growth ratio of 1.08 and a beta of 1.10. The Bank of New York Mellon Corporation has a 52 week low of $70.46 and a 52 week high of $128.76.

Bank of New York Mellon (NYSE:BK - Get Free Report) last posted its quarterly earnings results on Friday, October 31st. The bank reported $1.91 earnings per share for the quarter. Bank of New York Mellon had a net margin of 13.62% and a return on equity of 14.37%. The firm had revenue of $5.07 billion for the quarter. On average, equities analysts predict 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 Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, February 5th. Stockholders of record on Friday, January 23rd were issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 1.8%. The ex-dividend date was Friday, January 23rd. Bank of New York Mellon's payout ratio is currently 28.61%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Barclays upped their target price on Bank of New York Mellon from $120.00 to $143.00 and gave the stock an "overweight" rating in a research note on Monday, January 5th. Keefe, Bruyette & Woods lifted their price target on shares of Bank of New York Mellon from $132.00 to $143.00 and gave the company an "outperform" rating in a research note on Wednesday, January 14th. New Street Research set a $143.00 price target on shares of Bank of New York Mellon in a report on Wednesday, January 14th. Truist Financial upgraded shares of Bank of New York Mellon from a "hold" rating to a "buy" rating and upped their price objective for the stock from $119.00 to $134.00 in a research report on Wednesday, January 7th. Finally, Wells Fargo & Company increased their price objective on shares of Bank of New York Mellon from $119.00 to $122.00 and gave the company an "equal weight" rating in a report on Wednesday, January 14th. Eight investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average 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.

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