Resona Asset Management Co. Ltd. Purchases New Position in The Bank of New York Mellon Co. (NYSE:BK)

Resona Asset Management Co. Ltd. acquired a new stake in shares of The Bank of New York Mellon Co. (NYSE:BK) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 220,727 shares of the bank’s stock, valued at approximately $16,982,000.

Several other large investors have also recently bought and sold shares of the company. Czech National Bank grew its holdings in shares of Bank of New York Mellon by 4.9% in the 4th quarter. Czech National Bank now owns 157,645 shares of the bank’s stock valued at $12,112,000 after buying an additional 7,316 shares during the period. O Shaughnessy Asset Management LLC lifted its holdings in Bank of New York Mellon by 11.7% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 786,496 shares of the bank’s stock worth $60,426,000 after acquiring an additional 82,671 shares in the last quarter. Fifth Third Bancorp increased its holdings in shares of Bank of New York Mellon by 9.2% in the fourth quarter. Fifth Third Bancorp now owns 94,046 shares of the bank’s stock worth $7,226,000 after acquiring an additional 7,935 shares in the last quarter. Natixis Advisors LLC increased its holdings in shares of Bank of New York Mellon by 6.5% in the fourth quarter. Natixis Advisors LLC now owns 285,965 shares of the bank’s stock worth $21,971,000 after acquiring an additional 17,457 shares in the last quarter. Finally, Western Financial Corp CA acquired a new stake in shares of Bank of New York Mellon during the fourth quarter worth about $342,000. Institutional investors own 85.31% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Truist Financial lowered their target price on Bank of New York Mellon from $93.00 to $90.00 and set a “buy” rating for the company in a research note on Friday. Royal Bank of Canada reissued a “sector perform” rating and set a $90.00 price objective on shares of Bank of New York Mellon in a research report on Monday, March 17th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Bank of New York Mellon from $94.00 to $98.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. UBS Group increased their target price on Bank of New York Mellon from $88.00 to $94.00 and gave the stock a “buy” rating in a report on Tuesday, January 21st. Finally, StockNews.com lowered Bank of New York Mellon from a “buy” rating to a “hold” rating in a report on Wednesday, February 19th. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, Bank of New York Mellon currently has an average rating of “Moderate Buy” and a consensus target price of $89.86.

Bank of New York Mellon Stock Down 8.4 %

NYSE:BK opened at $73.17 on Friday. The firm has a market capitalization of $52.53 billion, a price-to-earnings ratio of 12.59, a price-to-earnings-growth ratio of 0.97 and a beta of 1.03. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.83. The Bank of New York Mellon Co. has a twelve month low of $52.64 and a twelve month high of $90.34. The stock’s 50 day moving average price is $84.98 and its two-hundred day moving average price is $80.02.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.18. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The firm had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.66 billion. During the same period in the prior year, the firm posted $1.28 earnings per share. The company’s quarterly revenue was up 11.2% compared to the same quarter last year. Equities research analysts expect that The Bank of New York Mellon Co. will post 6.96 earnings per share for the current fiscal year.

Bank of New York Mellon Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Monday, January 27th were paid a $0.47 dividend. The ex-dividend date was Monday, January 27th. This represents a $1.88 annualized dividend and a yield of 2.57%. Bank of New York Mellon’s dividend payout ratio (DPR) is currently 32.36%.

Bank of New York Mellon Company Profile

The Bank of New York Mellon Corporation provides a range of financial products and services in the United States and internationally. The company operates through Securities Services, Market and Wealth Services, Investment and Wealth Management, and other segments. The Securities Services segment offers custody, trust and depositary, accounting, exchange-traded funds, middle-office solutions, transfer agency, services for private equity and real estate funds, foreign exchange, securities lending, liquidity/lending services, and data analytics.