Fiera Capital Corp Buys 13,616 Shares of The Bank of New York Mellon Corporation $BK

Fiera Capital Corp boosted its position in The Bank of New York Mellon Corporation (NYSE:BK) by 13.1% in the second quarter, HoldingsChannel.com reports. The firm owned 117,546 shares of the bank’s stock after acquiring an additional 13,616 shares during the period. Fiera Capital Corp’s holdings in Bank of New York Mellon were worth $10,710,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Westside Investment Management Inc. boosted its stake in Bank of New York Mellon by 78.9% in the second quarter. Westside Investment Management Inc. now owns 288 shares of the bank’s stock valued at $26,000 after acquiring an additional 127 shares in the last quarter. Orion Capital Management LLC acquired a new position in shares of Bank of New York Mellon during the first quarter worth $32,000. Hoey Investments Inc. purchased a new stake in Bank of New York Mellon in the second quarter valued at about $32,000. McClarren Financial Advisors Inc. acquired a new position in shares of Bank of New York Mellon during the first quarter valued at about $34,000. Finally, GFG Capital LLC purchased a new position in shares of Bank of New York Mellon in the 2nd quarter valued at approximately $36,000. 85.31% of the stock is currently owned by institutional investors.

Bank of New York Mellon Trading Down 1.5%

Bank of New York Mellon stock opened at $110.99 on Friday. The firm has a market cap of $77.40 billion, a PE ratio of 16.02, a P/E/G ratio of 0.98 and a beta of 1.13. The Bank of New York Mellon Corporation has a 12 month low of $70.46 and a 12 month high of $113.74. The stock’s 50 day simple moving average is $107.57 and its two-hundred day simple moving average is $98.77. The company has a current ratio of 0.70, a quick ratio of 0.72 and a debt-to-equity ratio of 0.83.

Bank of New York Mellon (NYSE:BK) last posted its 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 during the quarter. Analysts anticipate that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 7th. Stockholders of record on Monday, October 27th were given a dividend of $0.53 per share. The ex-dividend date was Monday, October 27th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.9%. Bank of New York Mellon’s dividend payout ratio (DPR) is 30.59%.

Analyst Ratings Changes

A number of research firms have issued reports on BK. TD Cowen raised their price target on shares of Bank of New York Mellon from $130.00 to $133.00 and gave the stock a “buy” rating in a report on Monday, October 20th. Morgan Stanley lifted their price target on Bank of New York Mellon from $101.00 to $116.00 and gave the stock an “overweight” rating in a research report on Monday, September 29th. Keefe, Bruyette & Woods increased their price objective 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. Truist Financial raised their price objective on Bank of New York Mellon from $118.00 to $119.00 and gave the stock a “hold” rating in a research note on Friday, October 17th. Finally, Wells Fargo & Company upped their target price on Bank of New York Mellon from $100.00 to $109.00 and gave the company an “equal weight” rating in a research report on Friday, October 17th. Ten equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, Bank of New York Mellon has a consensus rating of “Moderate Buy” and an average target price of $111.29.

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.