Caisse Des Depots ET Consignations Makes New $6.50 Million Investment in The Bank of New York Mellon Co. (NYSE:BK)

Caisse Des Depots ET Consignations bought a new stake in shares of The Bank of New York Mellon Co. (NYSE:BK) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 84,609 shares of the bank’s stock, valued at approximately $6,501,000.

Other large investors also recently modified their holdings of the company. Czech National Bank lifted its stake in Bank of New York Mellon by 4.9% during the fourth quarter. Czech National Bank now owns 157,645 shares of the bank’s stock worth $12,112,000 after purchasing an additional 7,316 shares during the last quarter. HighTower Advisors LLC lifted its position in shares of Bank of New York Mellon by 130.1% during the 3rd quarter. HighTower Advisors LLC now owns 326,372 shares of the bank’s stock worth $23,449,000 after buying an additional 184,560 shares during the last quarter. Transamerica Financial Advisors Inc. acquired a new stake in Bank of New York Mellon in the third quarter valued at about $1,010,000. Fifth Third Bancorp grew its position in 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 valued at $7,226,000 after acquiring an additional 7,935 shares during the last quarter. Finally, Natixis Advisors LLC raised its stake in Bank of New York Mellon by 6.5% during 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. 85.31% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on BK shares. Citigroup lifted their price target on shares of Bank of New York Mellon from $82.00 to $85.00 and gave the company a “neutral” rating in a report on Monday. Truist Financial upped their price target on shares of Bank of New York Mellon from $91.00 to $93.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Deutsche Bank Aktiengesellschaft raised their price objective on Bank of New York Mellon from $94.00 to $98.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Wells Fargo & Company upped their target price on Bank of New York Mellon from $86.00 to $96.00 and gave the stock an “equal weight” rating in a report on Monday, March 3rd. Finally, Wolfe Research lowered Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $89.71.

Bank of New York Mellon Stock Performance

BK stock opened at $85.07 on Thursday. The Bank of New York Mellon Co. has a 1-year low of $52.64 and a 1-year 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 stock has a 50-day moving average price of $85.31 and a 200-day moving average price of $79.39. The firm has a market cap of $61.08 billion, a PE ratio of 14.64, a price-to-earnings-growth ratio of 0.97 and a beta of 1.06.

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

Bank of New York Mellon Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Monday, January 27th were paid a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 2.21%. The ex-dividend date of this dividend was Monday, January 27th. Bank of New York Mellon’s dividend payout ratio (DPR) is currently 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.