Skandinaviska Enskilda Banken AB publ Has $47.86 Million Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Skandinaviska Enskilda Banken AB publ raised its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 0.4% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 620,730 shares of the bank’s stock after acquiring an additional 2,319 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Bank of New York Mellon were worth $47,864,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Czech National Bank increased its holdings in Bank of New York Mellon by 4.9% during the 4th quarter. Czech National Bank now owns 157,645 shares of the bank’s stock valued at $12,112,000 after purchasing an additional 7,316 shares in the last quarter. Chase Investment Counsel Corp grew its holdings in shares of Bank of New York Mellon by 67.2% during the third quarter. Chase Investment Counsel Corp now owns 83,530 shares of the bank’s stock worth $6,002,000 after purchasing an additional 33,558 shares during the last quarter. HighTower Advisors LLC increased its stake in shares of Bank of New York Mellon by 130.1% in the third quarter. HighTower Advisors LLC now owns 326,372 shares of the bank’s stock valued at $23,449,000 after buying an additional 184,560 shares in the last quarter. Primecap Management Co. CA raised its holdings in shares of Bank of New York Mellon by 1.2% in the third quarter. Primecap Management Co. CA now owns 719,900 shares of the bank’s stock valued at $51,732,000 after buying an additional 8,400 shares during the last quarter. Finally, Transamerica Financial Advisors Inc. acquired a new position in Bank of New York Mellon during the 3rd quarter worth about $1,010,000. Institutional investors and hedge funds own 85.31% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on BK shares. Wells Fargo & Company raised their price objective on shares of Bank of New York Mellon from $86.00 to $96.00 and gave the company an “equal weight” rating in a research report on Monday, March 3rd. Citigroup raised their price target on shares of Bank of New York Mellon from $75.00 to $82.00 and gave the company a “neutral” rating in a report on Monday, November 25th. Keefe, Bruyette & Woods increased their price objective on Bank of New York Mellon from $87.00 to $96.00 and gave the company an “outperform” rating in a research report on Tuesday, December 3rd. StockNews.com cut Bank of New York Mellon from a “buy” rating to a “hold” rating in a research note on Wednesday, February 19th. Finally, Truist Financial lifted their price objective on Bank of New York Mellon from $91.00 to $93.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $88.71.

Bank of New York Mellon Stock Performance

Shares of Bank of New York Mellon stock opened at $80.70 on Thursday. The Bank of New York Mellon Co. has a 12 month low of $52.64 and a 12 month high of $90.34. The company has a current ratio of 0.69, a quick ratio of 0.70 and a debt-to-equity ratio of 0.83. The company has a market capitalization of $57.94 billion, a PE ratio of 13.89, a PEG ratio of 0.97 and a beta of 1.06. The stock’s fifty day simple moving average is $84.16 and its 200 day simple moving average is $78.28.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings data on Wednesday, January 15th. The bank reported $1.72 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.18. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. The business had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.66 billion. During the same quarter in the previous year, the business posted $1.28 EPS. Bank of New York Mellon’s revenue for the quarter was up 11.2% on a year-over-year basis. On average, research analysts predict that The Bank of New York Mellon Co. will post 6.96 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Monday, January 27th were given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 2.33%. The ex-dividend date was Monday, January 27th. Bank of New York Mellon’s dividend payout ratio is 32.36%.

About Bank of New York Mellon

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.