Vinva Investment Management Ltd Purchases 41,200 Shares of The Bank of New York Mellon Corporation $BK

Key Points

• Vinva Investment Management raised its stake in The Bank of New York Mellon by 59.7%, buying 41,200 shares to hold 110,250 shares valued at about $12.1 million.
• BNY Mellon reported $1.91 EPS on $5.07 billion in revenue for the quarter, has a market cap near $79.15 billion, and pays a quarterly dividend of $0.53 (annualized $2.12, ~1.8% yield).
• Several analysts have raised price targets (some to the mid-$140s), leaving BNY Mellon with a consensus rating of Moderate Buy and an average price target of $131.92.

Vinva Investment Management Ltd increased its holdings in shares of The Bank of New York Mellon Corporation (NYSE:BK - Free Report) by 59.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 110,250 shares of the bank's stock after buying an additional 41,200 shares during the quarter. Vinva Investment Management Ltd's holdings in Bank of New York Mellon were worth $12,100,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BK. Valley Wealth Managers Inc. bought a new stake in shares of Bank of New York Mellon in the third quarter worth about $33,000. Caldwell Trust Co bought a new position in shares of Bank of New York Mellon during the 2nd quarter valued at about $36,000. Westside Investment Management Inc. lifted its holdings in shares of Bank of New York Mellon by 44.1% during the 3rd quarter. Westside Investment Management Inc. now owns 415 shares of the bank's stock valued at $45,000 after purchasing an additional 127 shares in the last quarter. Dunhill Financial LLC grew its position in shares of Bank of New York Mellon by 130.8% in the 3rd 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 position in shares of Bank of New York Mellon in the 2nd quarter valued at approximately $52,000. 85.31% of the stock is currently owned by institutional investors.

Bank of New York Mellon Stock Down 1.3%

Shares of Bank of New York Mellon stock opened at $115.22 on Friday. The firm has a market cap of $79.15 billion, a PE ratio of 15.55, a P/E/G ratio of 1.08 and a beta of 1.10. The business's 50 day simple moving average is $119.69 and its 200 day simple moving average is $112.74. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.71 and a current ratio of 0.71. 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 released 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 return on equity of 14.37% and a net margin of 13.62%.The firm had revenue of $5.07 billion during the quarter. On average, 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 Announces Dividend

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

Wall Street Analysts Forecast Growth

Several analysts have commented on BK shares. Barclays raised their target price on shares of Bank of New York Mellon from $120.00 to $143.00 and gave the stock an "overweight" rating in a report on Monday, January 5th. Keefe, Bruyette & Woods increased 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. Royal Bank Of Canada increased their price objective on shares of Bank of New York Mellon from $124.00 to $130.00 and gave the stock a "sector perform" rating in a research report on Wednesday, January 14th. Morgan Stanley raised their price objective on shares of Bank of New York Mellon from $124.00 to $132.00 and gave the stock an "overweight" rating in a report on Wednesday, January 14th. Finally, TD Cowen boosted their price objective on shares of 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. Eight analysts have rated the stock with 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 price target of $131.92.

About Bank of New York Mellon

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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