Fiera Capital Corp Raises Stock Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Fiera Capital Corp raised its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 35.6% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 62,068 shares of the bank’s stock after buying an additional 16,289 shares during the period. Fiera Capital Corp’s holdings in Bank of New York Mellon were worth $3,717,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Wetzel Investment Advisors Inc. increased its holdings in Bank of New York Mellon by 82.1% during the 1st quarter. Wetzel Investment Advisors Inc. now owns 510 shares of the bank’s stock valued at $28,000 after purchasing an additional 230 shares during the period. Atlantic Edge Private Wealth Management LLC bought a new stake in shares of Bank of New York Mellon in the 4th quarter worth approximately $28,000. Olistico Wealth LLC purchased a new position in shares of Bank of New York Mellon during the second quarter valued at approximately $30,000. Able Wealth Management LLC bought a new position in shares of Bank of New York Mellon during the fourth quarter valued at approximately $32,000. Finally, Kathleen S. Wright Associates Inc. purchased a new stake in Bank of New York Mellon in the first quarter worth $32,000. Institutional investors own 85.31% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on BK. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Bank of New York Mellon from $63.00 to $66.00 and gave the stock a “hold” rating in a report on Thursday, August 15th. Citigroup downgraded shares of Bank of New York Mellon from a “buy” rating to a “neutral” rating and set a $65.00 price target for the company. in a research note on Monday, July 15th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $75.00 price objective (up from $70.00) on shares of Bank of New York Mellon in a research report 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 research report on Monday, July 15th. Finally, Morgan Stanley lifted their price target on Bank of New York Mellon from $65.00 to $72.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 30th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $66.14.

Bank of New York Mellon Stock Performance

Shares of Bank of New York Mellon stock opened at $67.72 on Thursday. The stock has a market cap of $50.64 billion, a price-to-earnings ratio of 15.68, a PEG ratio of 1.18 and a beta of 1.09. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.70 and a quick ratio of 0.70. The Bank of New York Mellon Co. has a 1 year low of $39.66 and a 1 year high of $68.54. The firm’s 50-day moving average is $63.90 and its 200 day moving average is $59.52.

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

Bank of New York Mellon Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 2nd. Investors of record on Monday, July 22nd were given a dividend of $0.47 per share. The ex-dividend date was Monday, July 22nd. This is a boost from Bank of New York Mellon’s previous quarterly dividend of $0.42. This represents a $1.88 annualized dividend and a dividend yield of 2.78%. Bank of New York Mellon’s dividend payout ratio (DPR) is 43.52%.

Insider Buying and Selling

In other news, VP Hanneke Smits sold 15,000 shares of the firm’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $64.11, for a total transaction of $961,650.00. Following the sale, the vice president now owns 173,930 shares of the company’s stock, valued at approximately $11,150,652.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.14% of the stock is owned by corporate insiders.

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.