Federated Hermes Inc. Boosts Stock Holdings in The Bank of New York Mellon Corporation $BK

Federated Hermes Inc. grew its stake in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 32.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,694,248 shares of the bank’s stock after buying an additional 411,858 shares during the period. Federated Hermes Inc. owned 0.24% of Bank of New York Mellon worth $184,605,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

BK has been the topic of several recent research reports. Barclays boosted their price target on Bank of New York Mellon from $120.00 to $143.00 and gave the stock an “overweight” rating in a research report on Monday, January 5th. New Street Research set a $143.00 target price on shares of Bank of New York Mellon in a research report on Wednesday, January 14th. Keefe, Bruyette & Woods raised their price target on shares of Bank of New York Mellon from $132.00 to $143.00 and gave the company an “outperform” rating in a report on Wednesday, January 14th. Wells Fargo & Company lifted their price target on shares of Bank of New York Mellon from $119.00 to $122.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 14th. Finally, Morgan Stanley upped 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 research report on Wednesday, January 14th. Eight equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Bank of New York Mellon presently has an average rating of “Moderate Buy” and an average target price of $131.92.

Bank of New York Mellon Trading Down 0.0%

BK opened at $118.98 on Wednesday. The Bank of New York Mellon Corporation has a 12-month low of $70.46 and a 12-month high of $125.89. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.71 and a quick ratio of 0.70. The stock has a market capitalization of $82.97 billion, a PE ratio of 16.06, a P/E/G ratio of 1.11 and a beta of 1.11. The firm’s fifty day moving average price is $116.41 and its 200 day moving average price is $109.06.

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

Bank of New York Mellon Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 5th. Shareholders of record on Friday, January 23rd will be issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Friday, January 23rd. Bank of New York Mellon’s dividend payout ratio (DPR) 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.