The Bank of New York Mellon Corporation $BK Shares Purchased by TD Waterhouse Canada Inc.

TD Waterhouse Canada Inc. boosted its holdings in The Bank of New York Mellon Corporation (NYSE:BK) by 23.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 248,125 shares of the bank’s stock after acquiring an additional 46,495 shares during the quarter. TD Waterhouse Canada Inc.’s holdings in Bank of New York Mellon were worth $26,539,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Investment Management Corp of Ontario grew its holdings in Bank of New York Mellon by 25.9% during the second quarter. Investment Management Corp of Ontario now owns 125,506 shares of the bank’s stock valued at $11,435,000 after purchasing an additional 25,842 shares during the period. First National Advisers LLC purchased a new stake in Bank of New York Mellon in the 3rd quarter worth about $3,304,000. Permanent Capital Management LP bought a new stake in Bank of New York Mellon in the 3rd quarter valued at about $2,262,000. First Horizon Corp purchased a new stake in Bank of New York Mellon during the third quarter valued at about $22,072,000. Finally, Robeco Institutional Asset Management B.V. increased its stake in shares of Bank of New York Mellon by 36.4% in the third quarter. Robeco Institutional Asset Management B.V. now owns 2,166,052 shares of the bank’s stock worth $236,013,000 after purchasing an additional 577,621 shares in the last quarter. 85.31% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

BK has been the topic of a number of analyst reports. TD Cowen boosted their target price on shares of Bank of New York Mellon from $133.00 to $145.00 and gave the company a “buy” rating in a report on Wednesday, January 7th. Royal Bank Of Canada increased 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. New Street Research set a $143.00 target price on Bank of New York Mellon in a report on Wednesday, January 14th. Barclays increased their price target on shares of Bank of New York Mellon from $120.00 to $143.00 and gave the stock an “overweight” rating in a report on Monday, January 5th. Finally, The Goldman Sachs Group boosted their target price on Bank of New York Mellon from $106.00 to $120.00 and gave the stock a “buy” rating in a research report on Monday, October 6th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $131.92.

Bank of New York Mellon Trading Up 0.0%

NYSE BK opened at $118.87 on Thursday. The firm has a market cap of $82.89 billion, a PE ratio of 16.04, a price-to-earnings-growth ratio of 1.11 and a beta of 1.11. The Bank of New York Mellon Corporation has a 1-year low of $70.46 and a 1-year high of $125.89. The stock has a 50-day moving average of $116.63 and a 200-day moving average of $109.13. The company has a current ratio of 0.71, a quick ratio of 0.70 and a debt-to-equity ratio of 0.81.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings results on Friday, October 31st. The bank reported $1.91 EPS for the quarter. Bank of New York Mellon had a net margin of 13.62% and a return on equity of 14.37%. The company had revenue of $5.07 billion during the quarter. As a group, sell-side analysts forecast 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 declared a quarterly dividend, which will be paid on Thursday, February 5th. Investors of record on Friday, January 23rd will be paid a $0.53 dividend. The ex-dividend date of this dividend is Friday, January 23rd. This represents a $2.12 dividend on an annualized basis and a yield of 1.8%. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 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.