Quantbot Technologies LP Takes Position in The Bank of New York Mellon Corporation $BK

Quantbot Technologies LP bought a new stake in shares of The Bank of New York Mellon Corporation (NYSE:BK) during the 3rd quarter, according to its most recent filing with the SEC. The firm bought 21,604 shares of the bank’s stock, valued at approximately $2,354,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Caitlin John LLC grew its position in Bank of New York Mellon by 5.0% in the third quarter. Caitlin John LLC now owns 4,059 shares of the bank’s stock valued at $442,000 after acquiring an additional 194 shares in the last quarter. Dunhill Financial LLC lifted its position in shares of Bank of New York Mellon by 130.8% during the third quarter. Dunhill Financial LLC now owns 427 shares of the bank’s stock worth $47,000 after purchasing an additional 242 shares in the last quarter. Ibex Wealth Advisors boosted its stake in shares of Bank of New York Mellon by 9.8% in the third quarter. Ibex Wealth Advisors now owns 54,952 shares of the bank’s stock valued at $5,988,000 after purchasing an additional 4,892 shares during the period. Aster Capital Management DIFC Ltd boosted its stake in shares of Bank of New York Mellon by 37.9% in the third quarter. Aster Capital Management DIFC Ltd now owns 8,847 shares of the bank’s stock valued at $964,000 after purchasing an additional 2,433 shares during the period. Finally, Handelsbanken Fonder AB grew its holdings in Bank of New York Mellon by 1.3% during the 3rd quarter. Handelsbanken Fonder AB now owns 299,028 shares of the bank’s stock valued at $32,582,000 after purchasing an additional 3,715 shares in the last quarter. 85.31% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BK has been the topic of a number of recent analyst reports. Weiss Ratings lowered shares of Bank of New York Mellon from a “buy (a-)” rating to a “buy (b+)” rating in a report on Friday, February 13th. New Street Research set a $143.00 price target on Bank of New York Mellon in a research note on Wednesday, January 14th. Citigroup started coverage on Bank of New York Mellon in a research note on Monday, February 23rd. They set a “neutral” rating for the company. Royal Bank Of Canada lifted their price objective on Bank of New York Mellon from $124.00 to $130.00 and gave the stock a “sector perform” rating in a report on Wednesday, January 14th. Finally, TD Cowen upped their target price on Bank of New York Mellon from $133.00 to $145.00 and gave the company a “buy” rating in a research report on Wednesday, January 7th. Eight investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Bank of New York Mellon presently has a consensus rating of “Moderate Buy” and an average price target of $131.92.

Bank of New York Mellon Stock Performance

Shares of BK stock opened at $118.01 on Wednesday. The stock has a market capitalization of $81.06 billion, a price-to-earnings ratio of 15.93, a PEG ratio of 1.12 and a beta of 1.10. The Bank of New York Mellon Corporation has a one year low of $70.46 and a one year high of $128.76. The company’s 50-day simple moving average is $119.74 and its 200-day simple moving average is $112.50. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.71 and a current ratio of 0.71.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings data on Friday, October 31st. The bank reported $1.91 earnings per share (EPS) for the quarter. Bank of New York Mellon had a return on equity of 14.37% and a net margin of 13.62%.The firm had revenue of $5.07 billion for the quarter. Equities analysts anticipate that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current fiscal year.

Bank of New York Mellon Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 5th. Investors of record on Friday, January 23rd were given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend was Friday, January 23rd. Bank of New York Mellon’s dividend payout ratio is currently 28.61%.

Bank of New York Mellon Profile

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.