Sienna Gestion Invests $12.11 Million in The Bank of New York Mellon Corporation $BK

Sienna Gestion purchased a new position in The Bank of New York Mellon Corporation (NYSE:BK) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 121,896 shares of the bank’s stock, valued at approximately $12,110,000. Bank of New York Mellon comprises about 0.8% of Sienna Gestion’s investment portfolio, making the stock its 29th biggest holding.

Several other institutional investors also recently bought and sold shares of the company. Russell Investments Group Ltd. lifted its stake in shares of Bank of New York Mellon by 52.0% in the third quarter. Russell Investments Group Ltd. now owns 889,460 shares of the bank’s stock worth $96,991,000 after buying an additional 304,346 shares in the last quarter. Private Advisor Group LLC increased its position in shares of Bank of New York Mellon by 2.6% during the third quarter. Private Advisor Group LLC now owns 58,282 shares of the bank’s stock valued at $6,350,000 after acquiring an additional 1,482 shares in the last quarter. ProVise Management Group LLC increased its position in shares of Bank of New York Mellon by 1.3% during the third quarter. ProVise Management Group LLC now owns 96,517 shares of the bank’s stock valued at $10,516,000 after acquiring an additional 1,221 shares in the last quarter. B. Metzler seel. Sohn & Co. AG raised its holdings in Bank of New York Mellon by 0.5% in the 3rd quarter. B. Metzler seel. Sohn & Co. AG now owns 59,415 shares of the bank’s stock worth $6,474,000 after acquiring an additional 271 shares during the last quarter. Finally, Vinva Investment Management Ltd lifted its position in Bank of New York Mellon by 59.7% in the 3rd quarter. Vinva Investment Management Ltd now owns 110,250 shares of the bank’s stock valued at $12,100,000 after acquiring an additional 41,200 shares in the last quarter. 85.31% of the stock is owned by hedge funds and other institutional investors.

Bank of New York Mellon Stock Down 1.3%

Bank of New York Mellon stock opened at $115.22 on Monday. The Bank of New York Mellon Corporation has a one year low of $70.46 and a one year high of $128.76. The stock has a fifty day moving average of $119.69 and a 200 day moving average of $112.83. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.71 and a current ratio of 0.71. The stock has a market cap of $79.30 billion, a PE ratio of 15.55, a price-to-earnings-growth ratio of 1.08 and a beta of 1.10.

Bank of New York Mellon (NYSE:BK) last announced its earnings results on Friday, October 31st. The bank reported $1.91 earnings per share (EPS) for the quarter. The business had revenue of $5.07 billion for the quarter. Bank of New York Mellon had a return on equity of 14.37% and a net margin of 13.62%. As a group, sell-side analysts predict that The Bank of New York Mellon Corporation will post 6.96 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 5th. Investors of record on Friday, January 23rd were issued a $0.53 dividend. The ex-dividend date of this dividend was Friday, January 23rd. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.8%. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 28.61%.

Analyst Ratings Changes

A number of analysts have commented on BK shares. New Street Research set a $143.00 target price on Bank of New York Mellon in a report on Wednesday, January 14th. Truist Financial raised Bank of New York Mellon from a “hold” rating to a “buy” rating and increased their price objective for the company from $119.00 to $134.00 in a research report on Wednesday, January 7th. TD Cowen boosted their target price on Bank of New York Mellon from $133.00 to $145.00 and gave the stock a “buy” rating in a research report on Wednesday, January 7th. Barclays raised their price target on shares of Bank of New York Mellon from $120.00 to $143.00 and gave the company an “overweight” rating in a report on Monday, January 5th. Finally, Morgan Stanley boosted their price objective on shares of Bank of New York Mellon from $124.00 to $132.00 and gave the company an “overweight” rating in a report on Wednesday, January 14th. Eight research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $131.92.

About Bank of New York Mellon

Bank of New York Mellon Corporation (BNY Mellon) is a global financial services company headquartered in New York City that provides a wide range of asset servicing, custody, and related financial infrastructure solutions to institutional clients. Its core businesses include custody and asset servicing, clearing and collateral management, treasury services, securities lending, corporate trust services, and depositary receipt administration. The company also offers investment management and advisory services through its asset management arm and provides technology-enabled solutions for trade processing, foreign exchange, and liquidity management.

BNY Mellon serves a broad client base that includes asset managers, pension funds, corporations, banks, broker-dealers and sovereign entities.