Czech National Bank Buys 7,825 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Czech National Bank grew its stake in The Bank of New York Mellon Co. (NYSE:BK) by 5.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 150,329 shares of the bank’s stock after acquiring an additional 7,825 shares during the quarter. Czech National Bank’s holdings in Bank of New York Mellon were worth $10,803,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in BK. The Manufacturers Life Insurance Company boosted its holdings in Bank of New York Mellon by 2.1% in the fourth quarter. The Manufacturers Life Insurance Company now owns 600,834 shares of the bank’s stock worth $31,273,000 after acquiring an additional 12,417 shares in the last quarter. CIBC Private Wealth Group LLC lifted its holdings in shares of Bank of New York Mellon by 25.2% during the fourth quarter. CIBC Private Wealth Group LLC now owns 53,688 shares of the bank’s stock valued at $2,794,000 after purchasing an additional 10,799 shares in the last quarter. Cetera Advisor Networks LLC lifted its holdings in shares of Bank of New York Mellon by 6.8% during the fourth quarter. Cetera Advisor Networks LLC now owns 93,306 shares of the bank’s stock valued at $4,857,000 after purchasing an additional 5,976 shares in the last quarter. Public Employees Retirement Association of Colorado lifted its holdings in shares of Bank of New York Mellon by 6,029.8% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 116,589 shares of the bank’s stock valued at $6,068,000 after purchasing an additional 114,687 shares in the last quarter. Finally, Cibc World Markets Corp lifted its holdings in shares of Bank of New York Mellon by 42.8% during the fourth quarter. Cibc World Markets Corp now owns 178,631 shares of the bank’s stock valued at $9,298,000 after purchasing an additional 53,552 shares in the last quarter. 85.31% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft raised Bank of New York Mellon from a “hold” rating to a “buy” rating and upped their price target for the company from $66.00 to $80.00 in a report on Monday, September 23rd. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $75.00 target price (up previously from $70.00) on shares of Bank of New York Mellon in a report on Monday, July 15th. Morgan Stanley increased their target price on Bank of New York Mellon from $72.00 to $78.00 and gave the company an “equal weight” rating in a report on Monday, September 30th. Evercore ISI increased their target price on Bank of New York Mellon from $61.00 to $66.00 and gave the company an “in-line” rating in a report on Monday, July 15th. Finally, Citigroup increased their target price on Bank of New York Mellon from $65.00 to $70.00 and gave the company a “neutral” rating in a report on Thursday, September 19th. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Bank of New York Mellon presently has a consensus rating of “Moderate Buy” and an average price target of $69.38.

Bank of New York Mellon Price Performance

Bank of New York Mellon stock traded up $1.16 during midday trading on Friday, reaching $71.98. 2,361,483 shares of the stock traded hands, compared to its average volume of 3,842,556. The stock’s fifty day moving average is $67.46 and its 200-day moving average is $61.78. The Bank of New York Mellon Co. has a 12 month low of $39.66 and a 12 month high of $73.19. The stock has a market cap of $53.83 billion, a P/E ratio of 16.66, a PEG ratio of 1.24 and a beta of 1.08. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.85.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings data on Friday, July 12th. The bank reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.08. The business had revenue of $4.60 billion during the quarter, compared to analyst estimates of $4.53 billion. Bank of New York Mellon had a return on equity of 11.87% and a net margin of 9.40%. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period last year, the company earned $1.38 EPS. As a group, equities research analysts anticipate that The Bank of New York Mellon Co. will post 5.63 EPS for the current year.

Bank of New York Mellon Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 2nd. Investors of record on Monday, July 22nd were issued a dividend of $0.47 per share. The ex-dividend date of this dividend was Monday, July 22nd. This represents a $1.88 dividend on an annualized basis and a yield of 2.61%. This is a boost from Bank of New York Mellon’s previous quarterly dividend of $0.42. Bank of New York Mellon’s payout ratio is presently 43.52%.

Insider Activity at Bank of New York Mellon

In other Bank of New York Mellon news, VP Hanneke Smits sold 15,000 shares of Bank of New York Mellon stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $64.11, for a total transaction of $961,650.00. Following the completion of the sale, the vice president now directly owns 173,930 shares of the company’s stock, valued at $11,150,652.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.14% of the stock is owned by company insiders.

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.