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

Sienna Gestion bought a new stake in shares of The Bank of New York Mellon Corporation (NYSE:BK) during the 3rd quarter, Holdings Channel reports. The firm bought 121,896 shares of the bank’s stock, valued at approximately $12,110,000. Bank of New York Mellon accounts for approximately 0.8% of Sienna Gestion’s holdings, making the stock its 29th biggest position.

Several other institutional investors have also recently made changes to their positions in BK. Revolve Wealth Partners LLC purchased a new position in shares of Bank of New York Mellon during the 4th quarter valued at about $220,000. Sivia Capital Partners LLC lifted its holdings in Bank of New York Mellon by 36.6% during the second quarter. Sivia Capital Partners LLC now owns 3,394 shares of the bank’s stock valued at $309,000 after purchasing an additional 909 shares in the last quarter. Ignite Planners LLC bought a new position in shares of Bank of New York Mellon in the second quarter worth approximately $240,000. Vestmark Advisory Solutions Inc. increased its stake in shares of Bank of New York Mellon by 4.0% in the second quarter. Vestmark Advisory Solutions Inc. now owns 2,771 shares of the bank’s stock worth $252,000 after purchasing an additional 107 shares in the last quarter. Finally, AE Wealth Management LLC raised its position in shares of Bank of New York Mellon by 11.9% during the 2nd quarter. AE Wealth Management LLC now owns 19,414 shares of the bank’s stock valued at $1,769,000 after purchasing an additional 2,066 shares during the period. Institutional investors own 85.31% of the company’s stock.

Analyst Upgrades and Downgrades

BK has been the topic of a number of analyst reports. Citigroup initiated coverage on shares of Bank of New York Mellon in a research note on Monday, February 23rd. They set a “neutral” rating on the stock. Keefe, Bruyette & Woods raised their price target on 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. TD Cowen boosted their price objective 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. New Street Research set a $143.00 price objective on Bank of New York Mellon in a research note on Wednesday, January 14th. Finally, Morgan Stanley increased their target price on Bank of New York Mellon from $124.00 to $132.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 14th. Eight analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $131.92.

Bank of New York Mellon Stock Performance

Shares of NYSE BK opened at $115.22 on Monday. The company has a market cap of $79.30 billion, a P/E ratio of 15.55, a P/E/G ratio of 1.08 and a beta of 1.10. The Bank of New York Mellon Corporation has a 52-week low of $70.46 and a 52-week high of $128.76. 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 firm’s fifty day moving average is $119.69 and its two-hundred day moving average is $112.83.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings data on Friday, October 31st. The bank reported $1.91 EPS for the quarter. The business 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, analysts anticipate that The Bank of New York Mellon Corporation will post 6.96 EPS 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 paid a dividend of $0.53 per share. The ex-dividend date of this dividend was 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 is presently 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.