Pictet Asset Management Holding SA Grows Position in The Bank of New York Mellon Co. (NYSE:BK)

Pictet Asset Management Holding SA raised its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 12.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 485,346 shares of the bank’s stock after buying an additional 52,112 shares during the quarter. Pictet Asset Management Holding SA owned about 0.07% of Bank of New York Mellon worth $37,289,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of BK. D.A. Davidson & CO. boosted its holdings in Bank of New York Mellon by 3.3% in the third quarter. D.A. Davidson & CO. now owns 7,299 shares of the bank’s stock worth $525,000 after acquiring an additional 231 shares in the last quarter. Townsquare Capital LLC boosted its stake in Bank of New York Mellon by 24.6% in the 3rd quarter. Townsquare Capital LLC now owns 22,001 shares of the bank’s stock worth $1,581,000 after purchasing an additional 4,342 shares in the last quarter. CreativeOne Wealth LLC grew its position in Bank of New York Mellon by 3.8% during the 3rd quarter. CreativeOne Wealth LLC now owns 8,971 shares of the bank’s stock valued at $645,000 after purchasing an additional 332 shares during the last quarter. Financial Counselors Inc. bought a new stake in Bank of New York Mellon during the 3rd quarter valued at about $293,000. Finally, Rockefeller Capital Management L.P. lifted its stake in shares of Bank of New York Mellon by 0.9% in the third quarter. Rockefeller Capital Management L.P. now owns 29,519 shares of the bank’s stock worth $2,118,000 after buying an additional 250 shares in the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Stock Performance

NYSE BK opened at $82.67 on Monday. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.83. The Bank of New York Mellon Co. has a twelve month low of $52.64 and a twelve month high of $90.34. The business has a 50-day moving average price of $85.34 and a 200-day moving average price of $79.69. The firm has a market cap of $59.35 billion, a price-to-earnings ratio of 14.23, a price-to-earnings-growth ratio of 0.97 and a beta of 1.06.

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

Bank of New York Mellon Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Monday, January 27th were issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 2.27%. The ex-dividend date was Monday, January 27th. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 32.36%.

Analyst Ratings Changes

A number of brokerages have weighed in on BK. Truist Financial boosted their target price on Bank of New York Mellon from $91.00 to $93.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. StockNews.com downgraded shares of Bank of New York Mellon from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Barclays lifted their target price on shares of Bank of New York Mellon from $102.00 to $104.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Bank of America raised their price target on Bank of New York Mellon from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Finally, Keefe, Bruyette & Woods upped their price objective on Bank of New York Mellon from $87.00 to $96.00 and gave the company an “outperform” rating in a research report on Tuesday, December 3rd. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.71.

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.