1,250 Shares in The Bank of New York Mellon Corporation $BK Acquired by Caitong International Asset Management Co. Ltd

Caitong International Asset Management Co. Ltd purchased a new position in The Bank of New York Mellon Corporation (NYSE:BK) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 1,250 shares of the bank’s stock, valued at approximately $114,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Canada Post Corp Registered Pension Plan acquired a new position in Bank of New York Mellon in the 1st quarter worth approximately $1,035,000. Formidable Asset Management LLC acquired a new position in Bank of New York Mellon in the 1st quarter worth approximately $247,000. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in Bank of New York Mellon by 121.8% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 183,602 shares of the bank’s stock worth $15,399,000 after buying an additional 100,810 shares during the period. Genus Capital Management Inc. acquired a new position in Bank of New York Mellon in the 1st quarter worth approximately $2,559,000. Finally, Goldman Sachs Group Inc. increased its holdings in Bank of New York Mellon by 26.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 5,053,744 shares of the bank’s stock worth $423,858,000 after buying an additional 1,052,145 shares during the period. Institutional investors and hedge funds own 85.31% of the company’s stock.

Bank of New York Mellon Price Performance

Bank of New York Mellon stock opened at $107.91 on Friday. The company’s fifty day moving average price is $106.07 and its 200 day moving average price is $95.52. The Bank of New York Mellon Corporation has a 1 year low of $70.46 and a 1 year high of $110.87. The stock has a market capitalization of $76.10 billion, a P/E ratio of 15.57, a P/E/G ratio of 0.98 and a beta of 1.13. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.72 and a current ratio of 0.70.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings results on Tuesday, March 26th. The bank reported $1.30 earnings per share (EPS) for the quarter. Bank of New York Mellon had a net margin of 12.86% and a return on equity of 14.03%. The firm had revenue of $4.38 billion for the quarter. As a group, equities research analysts anticipate 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 declared a quarterly dividend, which will be paid on Friday, November 7th. Investors of record on Monday, October 27th will be paid a $0.53 dividend. The ex-dividend date of this dividend is Monday, October 27th. This represents a $2.12 dividend on an annualized basis and a yield of 2.0%. Bank of New York Mellon’s dividend payout ratio (DPR) is currently 30.59%.

Wall Street Analyst Weigh In

BK has been the topic of a number of analyst reports. Citigroup raised their price objective on shares of Bank of New York Mellon from $92.00 to $105.00 and gave the stock a “neutral” rating in a research note on Friday, September 5th. Barclays raised their price objective on shares of Bank of New York Mellon from $104.00 to $120.00 and gave the stock an “overweight” rating in a research note on Friday, October 17th. TD Cowen raised their price objective on shares of Bank of New York Mellon from $130.00 to $133.00 and gave the stock a “buy” rating in a research note on Monday, October 20th. Evercore ISI raised their price objective on shares of Bank of New York Mellon from $91.00 to $110.00 and gave the stock an “in-line” rating in a research note on Tuesday, September 30th. Finally, BMO Capital Markets initiated coverage on shares of Bank of New York Mellon in a research note on Friday, October 3rd. They set an “outperform” rating and a $125.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $111.29.

Bank of New York Mellon Profile

The Bank of New York Mellon Corporation provides a range of financial products and services in the United States and internationally. The company operates through Securities Services, Market and Wealth Services, Investment and Wealth Management, and other segments. The Securities Services segment offers custody, trust and depositary, accounting, exchange-traded funds, middle-office solutions, transfer agency, services for private equity and real estate funds, foreign exchange, securities lending, liquidity/lending services, and data analytics.