The Bank of New York Mellon Corporation $BK Shares Bought by Handelsbanken Fonder AB

Handelsbanken Fonder AB grew its position in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 1.3% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 295,313 shares of the bank’s stock after buying an additional 3,770 shares during the quarter. Handelsbanken Fonder AB’s holdings in Bank of New York Mellon were worth $26,906,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in BK. Westside Investment Management Inc. lifted its position 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 purchasing an additional 127 shares during the period. Orion Capital Management LLC purchased a new position in shares of Bank of New York Mellon during the 1st quarter worth approximately $32,000. Hoey Investments Inc. purchased a new position in shares of Bank of New York Mellon during the 2nd quarter worth approximately $32,000. McClarren Financial Advisors Inc. acquired a new stake in shares of Bank of New York Mellon in the 1st quarter valued at approximately $34,000. Finally, GFG Capital LLC purchased a new stake in shares of Bank of New York Mellon in the second quarter valued at approximately $36,000. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Stock Up 0.1%

BK opened at $106.54 on Friday. The Bank of New York Mellon Corporation has a 52 week low of $70.46 and a 52 week high of $113.74. The firm has a market cap of $74.30 billion, a P/E ratio of 15.37, a PEG ratio of 0.98 and a beta of 1.13. The business’s fifty day simple moving average is $107.91 and its 200 day simple moving average is $99.89. The company has a quick ratio of 0.72, a current ratio of 0.70 and a debt-to-equity ratio of 0.83.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings results on Tuesday, March 26th. The bank reported $1.30 EPS for the quarter. The business had revenue of $4.38 billion during the quarter. Bank of New York Mellon had a net margin of 12.86% and a return on equity of 14.03%. As a group, equities research analysts anticipate 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 firm also recently declared a quarterly dividend, which was paid on Friday, November 7th. Shareholders of record on Monday, October 27th were issued a $0.53 dividend. The ex-dividend date was Monday, October 27th. This represents a $2.12 annualized dividend and a yield of 2.0%. Bank of New York Mellon’s payout ratio is 30.59%.

Analysts Set New Price Targets

Several research firms have issued reports on BK. Morgan Stanley increased their price objective 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. BMO Capital Markets started coverage on shares of Bank of New York Mellon in a report on Friday, October 3rd. They set an “outperform” rating and a $125.00 price objective on the stock. Wells Fargo & Company lifted their price target on shares of 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. The Goldman Sachs Group upped their price target on Bank of New York Mellon from $106.00 to $120.00 and gave the stock a “buy” rating in a report on Monday, October 6th. Finally, Evercore ISI boosted their target price on Bank of New York Mellon from $91.00 to $110.00 and gave the stock an “in-line” rating in a research report on Tuesday, September 30th. Ten research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $111.29.

About Bank of New York Mellon

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.