Fifth Third Bancorp Increases Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Fifth Third Bancorp boosted its position in The Bank of New York Mellon Co. (NYSE:BK) by 9.2% in the 4th quarter, Holdings Channel reports. The institutional investor owned 94,046 shares of the bank’s stock after purchasing an additional 7,935 shares during the period. Fifth Third Bancorp’s holdings in Bank of New York Mellon were worth $7,226,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. State Street Corp boosted its stake in shares of Bank of New York Mellon by 2.0% in the 3rd quarter. State Street Corp now owns 33,313,594 shares of the bank’s stock valued at $2,393,915,000 after purchasing an additional 659,096 shares in the last quarter. FMR LLC boosted its position in Bank of New York Mellon by 78.6% during the third quarter. FMR LLC now owns 19,338,722 shares of the bank’s stock valued at $1,389,680,000 after buying an additional 8,512,404 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Bank of New York Mellon by 1.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,634,088 shares of the bank’s stock valued at $476,726,000 after buying an additional 117,974 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Bank of New York Mellon by 2,707.1% in the third quarter. Wellington Management Group LLP now owns 3,258,967 shares of the bank’s stock worth $234,189,000 after buying an additional 3,142,869 shares during the period. Finally, Franklin Resources Inc. lifted its stake in shares of Bank of New York Mellon by 8.3% in the 3rd quarter. Franklin Resources Inc. now owns 2,252,729 shares of the bank’s stock valued at $172,348,000 after acquiring an additional 173,347 shares during the last quarter. 85.31% of the stock is currently owned by institutional investors.

Bank of New York Mellon Stock Up 1.3 %

NYSE:BK opened at $85.82 on Monday. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.69 and a quick ratio of 0.70. The firm’s 50-day moving average price is $79.53 and its 200-day moving average price is $73.18. The company has a market capitalization of $62.39 billion, a PE ratio of 14.77, a P/E/G ratio of 0.96 and a beta of 1.08. The Bank of New York Mellon Co. has a 1-year low of $52.64 and a 1-year high of $86.34.

Bank of New York Mellon (NYSE:BK) last announced its earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share for the quarter, beating analysts’ consensus estimates of $1.54 by $0.18. The business had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.66 billion. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The business’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.28 earnings per share. On average, equities analysts predict that The Bank of New York Mellon Co. will post 6.86 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Monday, January 27th will be paid a $0.47 dividend. The ex-dividend date is Monday, January 27th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.19%. Bank of New York Mellon’s dividend payout ratio is currently 32.36%.

Analyst Ratings Changes

Several equities analysts recently issued reports on BK shares. Keefe, Bruyette & Woods raised their price target on Bank of New York Mellon from $87.00 to $96.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $79.00 target price on shares of Bank of New York Mellon in a research note on Monday, October 14th. Evercore ISI increased their price target on shares of Bank of New York Mellon from $79.00 to $83.00 and gave the company an “in-line” rating in a research report on Thursday, January 16th. Wolfe Research downgraded shares of Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. Finally, Citigroup raised their target price on Bank of New York Mellon from $75.00 to $82.00 and gave the stock a “neutral” rating in a research note on Monday, November 25th. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $88.00.

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.