Mitsubishi UFJ Asset Management Co. Ltd. Boosts Stock Position in The Bank of New York Mellon Corporation $BK

Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 3.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,410,173 shares of the bank’s stock after purchasing an additional 47,577 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.20% of Bank of New York Mellon worth $153,652,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the business. Ashton Thomas Private Wealth LLC lifted its stake in shares of Bank of New York Mellon by 133.2% in the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 91,762 shares of the bank’s stock valued at $9,998,000 after purchasing an additional 52,412 shares during the last quarter. Jones Financial Companies Lllp raised its holdings in Bank of New York Mellon by 35.1% during the 3rd quarter. Jones Financial Companies Lllp now owns 31,848 shares of the bank’s stock valued at $3,487,000 after buying an additional 8,277 shares during the period. Investment Management Corp of Ontario lifted its position in Bank of New York Mellon by 25.9% in the second quarter. Investment Management Corp of Ontario now owns 125,506 shares of the bank’s stock worth $11,435,000 after buying an additional 25,842 shares during the last quarter. First National Advisers LLC purchased a new position in Bank of New York Mellon during the third quarter worth $3,304,000. Finally, First Horizon Corp purchased a new position in shares of Bank of New York Mellon during the 3rd quarter worth about $22,072,000. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Stock Up 1.0%

Shares of NYSE BK opened at $121.50 on Friday. The Bank of New York Mellon Corporation has a 12-month low of $70.46 and a 12-month high of $128.76. The stock’s fifty day simple moving average is $119.62 and its two-hundred day simple moving average is $112.02. The stock has a market capitalization of $84.73 billion, a PE ratio of 16.40, a price-to-earnings-growth ratio of 1.12 and a beta of 1.10. The company has a current ratio of 0.71, a quick ratio of 0.70 and a debt-to-equity ratio of 0.81.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings data 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. As a group, analysts expect that The Bank of New York Mellon Corporation will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 5th. Shareholders of record on Friday, January 23rd were given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend was Friday, January 23rd. Bank of New York Mellon’s dividend payout ratio is presently 28.61%.

Analyst Upgrades and Downgrades

BK has been the topic of several research analyst reports. Truist Financial raised Bank of New York Mellon from a “hold” rating to a “buy” rating and upped their price objective for the company from $119.00 to $134.00 in a research report on Wednesday, January 7th. Wells Fargo & Company boosted their price target on 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. New Street Research set a $143.00 price objective on Bank of New York Mellon in a research note on Wednesday, January 14th. Barclays lifted their target price on Bank of New York Mellon from $120.00 to $143.00 and gave the company an “overweight” rating in a research report on Monday, January 5th. Finally, TD Cowen raised their price target on Bank of New York Mellon from $133.00 to $145.00 and gave the company a “buy” rating in a research note on Wednesday, January 7th. Eight analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus 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.