Boston Common Asset Management LLC Buys 2,402 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Boston Common Asset Management LLC grew its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 1.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 137,047 shares of the bank’s stock after buying an additional 2,402 shares during the quarter. Boston Common Asset Management LLC’s holdings in Bank of New York Mellon were worth $10,529,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. FMR LLC increased its holdings in Bank of New York Mellon by 78.6% in the 3rd quarter. FMR LLC now owns 19,338,722 shares of the bank’s stock worth $1,389,680,000 after purchasing an additional 8,512,404 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Bank of New York Mellon by 2,707.1% during the third quarter. Wellington Management Group LLP now owns 3,258,967 shares of the bank’s stock worth $234,189,000 after purchasing an additional 3,142,869 shares during the last quarter. Marshall Wace LLP raised its holdings in Bank of New York Mellon by 99.4% in the 2nd quarter. Marshall Wace LLP now owns 2,631,213 shares of the bank’s stock valued at $157,583,000 after buying an additional 1,311,969 shares during the last quarter. Zacks Investment Management acquired a new stake in Bank of New York Mellon during the 3rd quarter worth approximately $62,589,000. Finally, State Street Corp grew its holdings in Bank of New York Mellon by 2.0% during the 3rd quarter. State Street Corp now owns 33,313,594 shares of the bank’s stock worth $2,393,915,000 after acquiring an additional 659,096 shares during the last quarter. 85.31% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on BK shares. JPMorgan Chase & Co. lifted their price target on shares of Bank of New York Mellon from $69.00 to $77.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. The Goldman Sachs Group lifted their target price on Bank of New York Mellon from $74.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Evercore ISI raised their price objective on Bank of New York Mellon from $79.00 to $83.00 and gave the stock an “in-line” rating in a research report on Thursday. Barclays upped their target price on Bank of New York Mellon from $102.00 to $104.00 and gave the company an “overweight” rating in a report on Thursday. Finally, Morgan Stanley raised their price target on shares of Bank of New York Mellon from $90.00 to $97.00 and gave the stock an “overweight” rating in a report on Thursday. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, Bank of New York Mellon presently has an average rating of “Moderate Buy” and a consensus target price of $87.14.

Bank of New York Mellon Stock Up 0.4 %

Shares of NYSE BK traded up $0.35 during trading on Friday, hitting $82.60. 713,610 shares of the company traded hands, compared to its average volume of 4,102,833. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.70 and a current ratio of 0.70. The business’s fifty day moving average is $78.65 and its 200 day moving average is $72.01. The firm has a market capitalization of $60.06 billion, a price-to-earnings ratio of 17.93, a P/E/G ratio of 0.76 and a beta of 1.08. The Bank of New York Mellon Co. has a fifty-two week low of $52.64 and a fifty-two week high of $82.72.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings data on Wednesday, January 15th. The bank reported $1.72 EPS for the quarter, beating analysts’ consensus estimates of $1.54 by $0.18. Bank of New York Mellon had a return on equity of 12.06% and a net margin of 9.44%. The firm had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.66 billion. During the same quarter last year, the firm posted $1.28 earnings per share. The company’s revenue for the quarter was up 11.2% compared to the same quarter last year. Equities research analysts predict that The Bank of New York Mellon Co. will post 5.87 earnings per share for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Monday, January 27th will be issued a dividend of $0.47 per share. The ex-dividend date is Monday, January 27th. This represents a $1.88 annualized dividend and a yield of 2.28%. Bank of New York Mellon’s payout ratio is 40.87%.

Bank of New York Mellon 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.