Rogco LP Acquires New Stake in The Bank of New York Mellon Corporation $BK

Rogco LP bought a new position in shares of The Bank of New York Mellon Corporation (NYSE:BK) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 5,738 shares of the bank’s stock, valued at approximately $625,000.

Several other institutional investors and hedge funds also recently made changes to their positions in BK. Norges Bank bought a new stake in Bank of New York Mellon in the second quarter valued at approximately $1,081,847,000. Qube Research & Technologies Ltd bought a new position in Bank of New York Mellon during the 2nd quarter worth approximately $135,728,000. Geode Capital Management LLC lifted its position in shares of Bank of New York Mellon by 4.3% in the 2nd quarter. Geode Capital Management LLC now owns 18,898,373 shares of the bank’s stock worth $1,717,074,000 after purchasing an additional 785,478 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Bank of New York Mellon in the 2nd quarter worth approximately $61,851,000. Finally, Robeco Institutional Asset Management B.V. boosted its stake in shares of Bank of New York Mellon by 36.4% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 2,166,052 shares of the bank’s stock valued at $236,013,000 after purchasing an additional 577,621 shares during the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on BK shares. Barclays boosted their target price on shares of Bank of New York Mellon from $120.00 to $143.00 and gave the company an “overweight” rating in a report on Monday, January 5th. Royal Bank Of Canada upped their target price on Bank of New York Mellon from $124.00 to $130.00 and gave the company a “sector perform” rating in a research report on Wednesday, January 14th. Weiss Ratings reiterated a “buy (b+)” rating on shares of Bank of New York Mellon in a report on Monday, December 29th. New Street Research set a $143.00 price target on Bank of New York Mellon in a research note on Wednesday, January 14th. Finally, Morgan Stanley raised their price objective on shares of Bank of New York Mellon from $124.00 to $132.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 14th. Eight investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Bank of New York Mellon currently has a consensus rating of “Moderate Buy” and a consensus target price of $131.92.

Bank of New York Mellon Stock Performance

BK opened at $119.70 on Thursday. The Bank of New York Mellon Corporation has a 1-year low of $70.46 and a 1-year high of $125.89. The company has a market cap of $83.47 billion, a price-to-earnings ratio of 16.15, a PEG ratio of 1.13 and a beta of 1.11. The company’s fifty day moving average price is $115.61 and its two-hundred day moving average price is $108.23. 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 (EPS) for the quarter. Bank of New York Mellon had a net margin of 13.62% and a return on equity of 14.37%. The firm had revenue of $5.07 billion during the quarter. On average, 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 business also recently announced a quarterly dividend, which will be paid on Thursday, February 5th. Stockholders of record on Friday, January 23rd will be issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Friday, January 23rd. Bank of New York Mellon’s dividend payout ratio (DPR) is currently 28.61%.

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.