Oppenheimer & Co. Inc. Raises Stock Position in The Bank of New York Mellon Corporation $BK

Oppenheimer & Co. Inc. raised its position in The Bank of New York Mellon Corporation (NYSE:BK) by 54.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 56,670 shares of the bank’s stock after purchasing an additional 19,951 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Bank of New York Mellon were worth $6,175,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in BK. Vanguard Group Inc. lifted its holdings in Bank of New York Mellon by 0.7% in the second quarter. Vanguard Group Inc. now owns 71,092,148 shares of the bank’s stock valued at $6,477,206,000 after acquiring an additional 517,081 shares during the last quarter. Geode Capital Management LLC raised its position in Bank of New York Mellon by 4.3% in the second quarter. Geode Capital Management LLC now owns 18,898,373 shares of the bank’s stock valued at $1,717,074,000 after purchasing an additional 785,478 shares during the period. Artisan Partners Limited Partnership lifted its stake in shares of Bank of New York Mellon by 0.9% in the 2nd quarter. Artisan Partners Limited Partnership now owns 15,803,214 shares of the bank’s stock valued at $1,439,831,000 after purchasing an additional 139,544 shares during the last quarter. Norges Bank purchased a new position in shares of Bank of New York Mellon during the 2nd quarter worth $1,081,847,000. Finally, Robeco Institutional Asset Management B.V. increased its position in shares of Bank of New York Mellon by 36.4% during the 3rd 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 during the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on BK shares. Barclays upped their target price on shares of Bank of New York Mellon from $120.00 to $143.00 and gave the company an “overweight” rating in a research report on Monday, January 5th. Truist Financial raised shares of Bank of New York Mellon from a “hold” rating to a “buy” rating and boosted their price target for the company from $119.00 to $134.00 in a research note on Wednesday, January 7th. Royal Bank Of Canada upped their price objective on shares of 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. Citigroup lifted their target price on shares of Bank of New York Mellon from $120.00 to $136.00 and gave the company a “neutral” rating in a report on Wednesday, January 14th. Finally, Keefe, Bruyette & Woods boosted their target price on Bank of New York Mellon from $132.00 to $143.00 and gave the company an “outperform” rating in a research report on Wednesday, January 14th. 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 stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $131.92.

Bank of New York Mellon Price Performance

Bank of New York Mellon stock opened at $126.49 on Wednesday. The company has a quick ratio of 0.70, a current ratio of 0.71 and a debt-to-equity ratio of 0.81. The Bank of New York Mellon Corporation has a 52-week low of $70.46 and a 52-week high of $128.76. The firm has a market cap of $88.21 billion, a PE ratio of 17.07, a price-to-earnings-growth ratio of 1.19 and a beta of 1.10. The company’s 50 day moving average is $118.90 and its two-hundred day moving average is $110.75.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings data on Friday, October 31st. The bank reported $1.91 earnings per share 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%. On average, 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 business also recently declared a quarterly dividend, which was paid on Thursday, February 5th. Shareholders of record on Friday, January 23rd were issued a dividend of $0.53 per share. The ex-dividend date was Friday, January 23rd. This represents a $2.12 annualized dividend and a yield of 1.7%. Bank of New York Mellon’s dividend payout ratio is 28.61%.

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.