Hennion & Walsh Asset Management Inc. lessened its stake in shares of The Bank of New York Mellon Co. (NYSE:BK – Free Report) by 1.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 22,237 shares of the bank’s stock after selling 387 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Bank of New York Mellon were worth $1,010,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Bank of New York Mellon in the fourth quarter valued at $503,489,000. Moneta Group Investment Advisors LLC boosted its position in Bank of New York Mellon by 74,433.7% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 6,114,741 shares of the bank’s stock worth $278,343,000 after acquiring an additional 6,106,537 shares during the period. Amundi grew its stake in Bank of New York Mellon by 69.7% during the 4th quarter. Amundi now owns 7,203,067 shares of the bank’s stock valued at $347,044,000 after acquiring an additional 2,957,380 shares in the last quarter. Renaissance Technologies LLC acquired a new position in shares of Bank of New York Mellon in the 4th quarter valued at about $105,838,000. Finally, Deutsche Bank AG lifted its position in shares of Bank of New York Mellon by 48.2% in the fourth quarter. Deutsche Bank AG now owns 6,098,792 shares of the bank’s stock worth $277,617,000 after purchasing an additional 1,983,512 shares in the last quarter. 81.19% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of brokerages recently commented on BK. Evercore ISI lowered their price objective on shares of Bank of New York Mellon from $49.00 to $46.00 in a research report on Friday, May 12th. Citigroup lifted their price objective on Bank of New York Mellon from $55.00 to $58.00 in a research report on Wednesday, June 14th. Deutsche Bank Aktiengesellschaft dropped their target price on Bank of New York Mellon from $42.00 to $41.00 in a research report on Wednesday, April 19th. StockNews.com assumed coverage on Bank of New York Mellon in a report on Thursday, May 18th. They set a “hold” rating for the company. Finally, Royal Bank of Canada increased their price objective on Bank of New York Mellon from $44.00 to $49.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 19th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Bank of New York Mellon presently has an average rating of “Hold” and a consensus price target of $52.12.
Bank of New York Mellon Stock Down 1.5 %
Bank of New York Mellon (NYSE:BK – Free Report) last announced its earnings results on Tuesday, April 18th. The bank reported $1.12 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.03. Bank of New York Mellon had a return on equity of 11.45% and a net margin of 11.98%. The firm had revenue of $4.36 billion during the quarter, compared to the consensus estimate of $4.40 billion. During the same quarter in the prior year, the company earned $0.86 EPS. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. As a group, analysts forecast that The Bank of New York Mellon Co. will post 4.78 earnings per share for the current year.
Bank of New York Mellon Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Thursday, May 11th. Shareholders of record on Friday, April 28th were issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 3.38%. The ex-dividend date was Thursday, April 27th. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 46.84%.
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.
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