Skandinaviska Enskilda Banken AB publ Purchases 2,319 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Skandinaviska Enskilda Banken AB publ increased its position in The Bank of New York Mellon Co. (NYSE:BK) by 0.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 620,730 shares of the bank’s stock after buying an additional 2,319 shares during the period. Skandinaviska Enskilda Banken AB publ owned 0.09% of Bank of New York Mellon worth $47,864,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Centricity Wealth Management LLC acquired a new position in shares of Bank of New York Mellon during the 4th quarter worth $39,000. Ashton Thomas Securities LLC bought a new stake in Bank of New York Mellon in the third quarter worth $46,000. Modus Advisors LLC acquired a new position in Bank of New York Mellon during the fourth quarter worth $49,000. Friedenthal Financial bought a new position in Bank of New York Mellon during the fourth quarter valued at about $56,000. Finally, Asset Dedication LLC lifted its position in shares of Bank of New York Mellon by 342.1% in the fourth quarter. Asset Dedication LLC now owns 756 shares of the bank’s stock worth $58,000 after buying an additional 585 shares during the last quarter. Institutional investors own 85.31% of the company’s stock.

Analyst Upgrades and Downgrades

BK has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft boosted their target price on Bank of New York Mellon from $94.00 to $98.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Barclays upped their price objective on shares of Bank of New York Mellon from $102.00 to $104.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. UBS Group boosted their target price on shares of Bank of New York Mellon from $88.00 to $94.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. Keefe, Bruyette & Woods raised their price target 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. Finally, Citigroup lifted their price objective 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 equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $88.71.

Bank of New York Mellon Stock Performance

Shares of NYSE BK opened at $80.70 on Thursday. The Bank of New York Mellon Co. has a one year low of $52.64 and a one 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 business has a fifty day simple moving average of $84.16 and a 200 day simple moving average of $78.28. The firm has a market capitalization of $57.94 billion, a price-to-earnings ratio of 13.89, a PEG ratio of 0.97 and a beta of 1.06.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings data on Wednesday, January 15th. The bank reported $1.72 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.66 billion. During the same period last year, the firm earned $1.28 EPS. The firm’s revenue for the quarter was up 11.2% compared to the same quarter last year. Sell-side analysts expect that The Bank of New York Mellon Co. will post 6.96 EPS for the current year.

Bank of New York Mellon Announces Dividend

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

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.