The Bank of New York Mellon Corporation $BK Stock Position Raised by TD Waterhouse Canada Inc.

TD Waterhouse Canada Inc. increased its holdings in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 53.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 201,630 shares of the bank’s stock after acquiring an additional 70,355 shares during the quarter. TD Waterhouse Canada Inc.’s holdings in Bank of New York Mellon were worth $18,264,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Westside Investment Management Inc. grew its holdings in shares of Bank of New York Mellon by 78.9% during the second quarter. Westside Investment Management Inc. now owns 288 shares of the bank’s stock valued at $26,000 after purchasing an additional 127 shares during the last quarter. Orion Capital Management LLC acquired a new position in Bank of New York Mellon during the 1st quarter valued at approximately $32,000. Hoey Investments Inc. acquired a new position in shares of Bank of New York Mellon during the second quarter valued at $32,000. McClarren Financial Advisors Inc. bought a new stake in Bank of New York Mellon in the 1st quarter valued at about $34,000. Finally, GFG Capital LLC acquired a new position in Bank of New York Mellon during the 2nd quarter valued at about $36,000. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have commented on BK shares. Barclays raised their price target on shares of Bank of New York Mellon from $104.00 to $120.00 and gave the company an “overweight” rating in a research note on Friday, October 17th. Citigroup raised their target price on Bank of New York Mellon from $92.00 to $105.00 and gave the company a “neutral” rating in a research report on Friday, September 5th. BMO Capital Markets began coverage on Bank of New York Mellon in a research note on Friday, October 3rd. They set an “outperform” rating and a $125.00 target price on the stock. Keefe, Bruyette & Woods raised their price target on Bank of New York Mellon from $120.00 to $124.00 and gave the company an “outperform” rating in a report on Friday, October 17th. Finally, Evercore ISI lifted their price objective on shares of Bank of New York Mellon from $91.00 to $110.00 and gave the company an “in-line” rating in a research note on Tuesday, September 30th. Ten equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $111.29.

Bank of New York Mellon Stock Up 0.0%

Shares of BK stock opened at $107.50 on Thursday. The Bank of New York Mellon Corporation has a 1 year low of $70.46 and a 1 year high of $113.74. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.72 and a current ratio of 0.70. The business’s fifty day moving average is $107.89 and its 200-day moving average is $99.67. The stock has a market cap of $74.97 billion, a PE ratio of 15.51, a price-to-earnings-growth ratio of 0.98 and a beta of 1.13.

Bank of New York Mellon (NYSE:BK) last announced its earnings results on Tuesday, March 26th. The bank reported $1.30 earnings per share for the quarter. Bank of New York Mellon had a return on equity of 14.03% and a net margin of 12.86%.The business had revenue of $4.38 billion during the quarter. Equities analysts expect 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 firm also recently announced a quarterly dividend, which was paid on Friday, November 7th. Investors of record on Monday, October 27th were issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date was Monday, October 27th. Bank of New York Mellon’s payout ratio is presently 30.59%.

Bank of New York Mellon Company 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.