Bank of Montreal Can Boosts Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Bank of Montreal Can increased its position in The Bank of New York Mellon Co. (NYSE:BK) by 2.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 720,564 shares of the bank’s stock after purchasing an additional 16,104 shares during the quarter. Bank of Montreal Can’s holdings in Bank of New York Mellon were worth $43,162,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in BK. Gilbert & Cook Inc. grew its stake in Bank of New York Mellon by 4.7% during the 4th quarter. Gilbert & Cook Inc. now owns 9,361 shares of the bank’s stock valued at $487,000 after purchasing an additional 419 shares in the last quarter. Orion Portfolio Solutions LLC grew its position in shares of Bank of New York Mellon by 18.7% during the fourth quarter. Orion Portfolio Solutions LLC now owns 45,047 shares of the bank’s stock worth $2,374,000 after buying an additional 7,096 shares in the last quarter. Hilltop Holdings Inc. bought a new stake in shares of Bank of New York Mellon in the fourth quarter worth $251,000. Steward Partners Investment Advisory LLC raised its holdings in Bank of New York Mellon by 0.8% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 71,662 shares of the bank’s stock valued at $3,730,000 after acquiring an additional 544 shares in the last quarter. Finally, TD Asset Management Inc boosted its stake in Bank of New York Mellon by 3.3% during the 4th quarter. TD Asset Management Inc now owns 259,558 shares of the bank’s stock valued at $13,510,000 after acquiring an additional 8,350 shares during the last quarter. 85.31% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Bank of New York Mellon

In related news, VP Hanneke Smits sold 15,000 shares of the stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $64.11, for a total value of $961,650.00. Following the completion of the transaction, the vice president now owns 173,930 shares in the company, valued at approximately $11,150,652.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.14% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft raised shares of Bank of New York Mellon from a “hold” rating to a “buy” rating and boosted their target price for the stock from $66.00 to $80.00 in a research report on Monday. Evercore ISI upped their price objective on Bank of New York Mellon from $61.00 to $66.00 and gave the company an “in-line” rating in a research note on Monday, July 15th. Barclays increased their target price on Bank of New York Mellon from $68.00 to $75.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. Citigroup boosted their price target on Bank of New York Mellon from $65.00 to $70.00 and gave the company a “neutral” rating in a report on Thursday, September 19th. Finally, The Goldman Sachs Group raised their price objective on Bank of New York Mellon from $74.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Bank of New York Mellon presently has an average rating of “Moderate Buy” and an average price target of $68.88.

Bank of New York Mellon Trading Down 0.9 %

Shares of NYSE:BK opened at $71.50 on Friday. The Bank of New York Mellon Co. has a fifty-two week low of $39.66 and a fifty-two week high of $73.19. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.85. The company has a market cap of $53.47 billion, a PE ratio of 16.55, a P/E/G ratio of 1.24 and a beta of 1.08. The company’s 50-day moving average price is $66.40 and its 200 day moving average price is $61.02.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings data on Friday, July 12th. The bank reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.08. Bank of New York Mellon had a return on equity of 11.87% and a net margin of 9.40%. The business had revenue of $4.60 billion during the quarter, compared to the consensus estimate of $4.53 billion. During the same period in the previous year, the firm posted $1.38 earnings per share. The business’s revenue was up 2.1% on a year-over-year basis. Sell-side analysts anticipate that The Bank of New York Mellon Co. will post 5.63 earnings per share for the current year.

Bank of New York Mellon Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 2nd. Stockholders of record on Monday, July 22nd were issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.63%. This is a positive change from Bank of New York Mellon’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Monday, July 22nd. Bank of New York Mellon’s dividend payout ratio (DPR) is 43.52%.

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.