CIBC Private Wealth Group LLC Boosts Stock Holdings in The Bank of New York Mellon Co. (NYSE:BK)

CIBC Private Wealth Group LLC grew its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 0.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 146,627 shares of the bank’s stock after purchasing an additional 776 shares during the period. CIBC Private Wealth Group LLC’s holdings in Bank of New York Mellon were worth $11,430,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Cape Investment Advisory Inc. lifted its position in shares of Bank of New York Mellon by 12.6% during the fourth quarter. Cape Investment Advisory Inc. now owns 1,172 shares of the bank’s stock worth $90,000 after acquiring an additional 131 shares in the last quarter. Oppenheimer & Co. Inc. lifted its holdings in Bank of New York Mellon by 0.4% during the 4th quarter. Oppenheimer & Co. Inc. now owns 34,536 shares of the bank’s stock worth $2,653,000 after purchasing an additional 133 shares in the last quarter. Grove Bank & Trust boosted its stake in Bank of New York Mellon by 21.0% in the 4th quarter. Grove Bank & Trust now owns 779 shares of the bank’s stock worth $60,000 after purchasing an additional 135 shares during the period. Valeo Financial Advisors LLC grew its holdings in Bank of New York Mellon by 1.6% during the 4th quarter. Valeo Financial Advisors LLC now owns 9,041 shares of the bank’s stock valued at $695,000 after buying an additional 139 shares in the last quarter. Finally, Stratos Investment Management LLC increased its position in shares of Bank of New York Mellon by 2.9% during the fourth quarter. Stratos Investment Management LLC now owns 5,109 shares of the bank’s stock valued at $393,000 after buying an additional 142 shares during the period. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Bank of New York Mellon Trading Up 1.6 %

NYSE BK opened at $84.00 on Tuesday. The firm has a market cap of $60.31 billion, a PE ratio of 14.46, a price-to-earnings-growth ratio of 0.97 and a beta of 1.06. The Bank of New York Mellon Co. has a 1-year low of $52.64 and a 1-year high of $90.34. The stock has a 50-day moving average of $85.35 and a 200-day moving average of $79.80. The company has a current ratio of 0.69, a quick ratio of 0.70 and a debt-to-equity ratio of 0.83.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings data on Wednesday, January 15th. The bank reported $1.72 earnings per share for the quarter, beating analysts’ consensus estimates of $1.54 by $0.18. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. The firm had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.66 billion. During the same quarter in the prior year, the firm posted $1.28 earnings per share. The business’s quarterly revenue was up 11.2% compared to the same quarter last year. As a group, sell-side analysts forecast that The Bank of New York Mellon Co. will post 6.96 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Monday, January 27th were given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date was Monday, January 27th. Bank of New York Mellon’s payout ratio is 32.36%.

Analyst Ratings Changes

A number of equities analysts have recently commented on BK shares. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Bank of New York Mellon from $94.00 to $98.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. UBS Group upped their price target on shares of Bank of New York Mellon from $88.00 to $94.00 and gave the stock a “buy” rating in a report on Tuesday, January 21st. Evercore ISI lifted their price objective on Bank of New York Mellon from $79.00 to $83.00 and gave the company an “in-line” rating in a research note on Thursday, January 16th. StockNews.com lowered Bank of New York Mellon from a “buy” rating to a “hold” rating in a research note on Wednesday, February 19th. Finally, Bank of America lifted their price target on Bank of New York Mellon from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $89.71.

Bank of New York Mellon 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.