Skandinaviska Enskilda Banken AB publ Sells 70,539 Shares of The Bank of New York Mellon Corporation $BK

Skandinaviska Enskilda Banken AB publ decreased its stake in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 14.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 403,216 shares of the bank’s stock after selling 70,539 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Bank of New York Mellon were worth $43,934,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Valeo Financial Advisors LLC boosted its stake in Bank of New York Mellon by 1.3% in the 3rd quarter. Valeo Financial Advisors LLC now owns 7,539 shares of the bank’s stock worth $821,000 after purchasing an additional 94 shares during the period. Ferguson Wellman Capital Management Inc. lifted its holdings in shares of Bank of New York Mellon by 0.4% in the third quarter. Ferguson Wellman Capital Management Inc. now owns 24,752 shares of the bank’s stock valued at $2,697,000 after purchasing an additional 96 shares in the last quarter. Leonard Rickey Investment Advisors P.L.L.C. lifted its holdings in shares of Bank of New York Mellon by 1.9% in the third quarter. Leonard Rickey Investment Advisors P.L.L.C. now owns 5,192 shares of the bank’s stock valued at $566,000 after purchasing an additional 98 shares in the last quarter. Tiemann Investment Advisors LLC boosted its position in shares of Bank of New York Mellon by 2.9% during the second quarter. Tiemann Investment Advisors LLC now owns 3,492 shares of the bank’s stock worth $318,000 after buying an additional 100 shares during the period. Finally, Cary Street Partners Investment Advisory LLC grew its holdings in shares of Bank of New York Mellon by 13.7% during the second quarter. Cary Street Partners Investment Advisory LLC now owns 828 shares of the bank’s stock worth $75,000 after buying an additional 100 shares in the last quarter. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Bank of New York Mellon Price Performance

Shares of BK opened at $117.67 on Tuesday. The company has a current ratio of 0.71, a quick ratio of 0.70 and a debt-to-equity ratio of 0.81. The company’s fifty day simple moving average is $119.23 and its 200 day simple moving average is $111.21. The Bank of New York Mellon Corporation has a 1-year low of $70.46 and a 1-year high of $128.76. The company has a market cap of $82.05 billion, a price-to-earnings ratio of 15.88, a PEG ratio of 1.10 and a beta of 1.10.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings results on Friday, October 31st. The bank reported $1.91 EPS for the quarter. The firm had revenue of $5.07 billion during the quarter. Bank of New York Mellon had a net margin of 13.62% and a return on equity of 14.37%. On average, research analysts forecast 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 Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 5th. Investors of record on Friday, January 23rd were issued a dividend of $0.53 per share. The ex-dividend date was Friday, January 23rd. This represents a $2.12 dividend on an annualized basis and a yield of 1.8%. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 28.61%.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. New Street Research set a $143.00 target price on Bank of New York Mellon in a research note on Wednesday, January 14th. Barclays lifted their price objective 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. Truist Financial upgraded shares of Bank of New York Mellon from a “hold” rating to a “buy” rating and increased their target price for the stock from $119.00 to $134.00 in a report on Wednesday, January 7th. Weiss Ratings lowered shares of Bank of New York Mellon from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Friday. Finally, Citigroup boosted their price target on shares of Bank of New York Mellon from $120.00 to $136.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 14th. Eight research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $131.92.

About Bank of New York Mellon

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.