Atria Investments LLC Raises Stake in The Bank of New York Mellon Co. (NYSE:BK)

Atria Investments LLC lifted its position in shares of The Bank of New York Mellon Co. (NYSE:BKGet Rating) by 5.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 36,132 shares of the bank’s stock after buying an additional 1,968 shares during the quarter. Atria Investments LLC’s holdings in Bank of New York Mellon were worth $1,793,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank acquired a new stake in shares of Bank of New York Mellon in the fourth quarter worth approximately $555,083,000. Victory Capital Management Inc. boosted its position in shares of Bank of New York Mellon by 6.9% in the fourth quarter. Victory Capital Management Inc. now owns 6,994,978 shares of the bank’s stock worth $406,268,000 after acquiring an additional 448,986 shares during the last quarter. First Trust Advisors LP boosted its position in shares of Bank of New York Mellon by 5.5% in the fourth quarter. First Trust Advisors LP now owns 4,252,487 shares of the bank’s stock worth $246,984,000 after acquiring an additional 221,746 shares during the last quarter. Yacktman Asset Management LP boosted its position in shares of Bank of New York Mellon by 0.6% in the fourth quarter. Yacktman Asset Management LP now owns 3,835,553 shares of the bank’s stock worth $222,769,000 after acquiring an additional 23,474 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Bank of New York Mellon by 0.5% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,319,918 shares of the bank’s stock worth $115,138,000 after acquiring an additional 10,858 shares during the last quarter. 83.69% of the stock is currently owned by hedge funds and other institutional investors.

Bank of New York Mellon Stock Up 0.7 %

Shares of NYSE:BK opened at $43.02 on Tuesday. The company has a current ratio of 0.67, a quick ratio of 0.68 and a debt-to-equity ratio of 0.78. The company has a fifty day simple moving average of $43.27 and a 200 day simple moving average of $49.38. The firm has a market cap of $34.75 billion, a PE ratio of 10.92, a price-to-earnings-growth ratio of 1.66 and a beta of 1.14. The Bank of New York Mellon Co. has a 12-month low of $39.78 and a 12-month high of $64.63.

Bank of New York Mellon (NYSE:BKGet Rating) last issued its quarterly earnings results on Friday, July 15th. The bank reported $1.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.09). The company had revenue of $4.25 billion during the quarter, compared to the consensus estimate of $4.17 billion. Bank of New York Mellon had a return on equity of 9.49% and a net margin of 20.61%. The firm’s quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.13 EPS. On average, equities research analysts anticipate that The Bank of New York Mellon Co. will post 4.29 EPS for the current fiscal year.

Bank of New York Mellon Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 5th. Investors of record on Monday, July 25th will be paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.44%. The ex-dividend date is Friday, July 22nd. This is a positive change from Bank of New York Mellon’s previous quarterly dividend of $0.34. Bank of New York Mellon’s payout ratio is 34.52%.

Wall Street Analysts Forecast Growth

BK has been the topic of a number of recent research reports. Royal Bank of Canada reduced their price target on shares of Bank of New York Mellon from $56.00 to $49.00 and set a “sector perform” rating on the stock in a research report on Friday, July 1st. Wolfe Research cut shares of Bank of New York Mellon from an “outperform” rating to a “peer perform” rating and set a $55.00 price target on the stock. in a research report on Thursday, March 31st. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Bank of New York Mellon from $43.00 to $42.00 in a research report on Monday, July 18th. Barclays set a $61.00 price target on shares of Bank of New York Mellon in a research report on Tuesday, July 19th. Finally, Credit Suisse Group dropped their price objective on shares of Bank of New York Mellon from $52.00 to $50.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 19th. Eleven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Bank of New York Mellon has a consensus rating of “Hold” and a consensus price target of $50.42.

About Bank of New York Mellon

(Get Rating)

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, prime brokerage, and data analytics.

See Also

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