Canada Post Corp Registered Pension Plan Buys 7,950 Shares of The Bank of New York Mellon Corporation $BK

Canada Post Corp Registered Pension Plan grew its stake in The Bank of New York Mellon Corporation (NYSE:BK) by 75.0% in the 3rd quarter, Holdings Channel.com reports. The firm owned 18,547 shares of the bank’s stock after purchasing an additional 7,950 shares during the period. Canada Post Corp Registered Pension Plan’s holdings in Bank of New York Mellon were worth $2,036,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of BK. Revolve Wealth Partners LLC bought a new stake in Bank of New York Mellon in the fourth quarter worth $220,000. Sivia Capital Partners LLC raised its stake in shares of Bank of New York Mellon by 36.6% in the second quarter. Sivia Capital Partners LLC now owns 3,394 shares of the bank’s stock valued at $309,000 after acquiring an additional 909 shares during the period. DAVENPORT & Co LLC raised its stake in shares of Bank of New York Mellon by 3.6% in the second quarter. DAVENPORT & Co LLC now owns 10,281 shares of the bank’s stock valued at $937,000 after acquiring an additional 353 shares during the period. Venturi Wealth Management LLC bought a new stake in shares of Bank of New York Mellon in the 2nd quarter worth about $192,000. Finally, Ignite Planners LLC bought a new stake in shares of Bank of New York Mellon in the 2nd quarter worth about $240,000. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Price Performance

Shares of BK stock opened at $124.42 on Friday. The Bank of New York Mellon Corporation has a twelve month low of $70.46 and a twelve month high of $125.89. The company has a current ratio of 0.71, a quick ratio of 0.70 and a debt-to-equity ratio of 0.81. The stock has a fifty day simple moving average of $118.30 and a two-hundred day simple moving average of $110.30. The stock has a market capitalization of $86.76 billion, a price-to-earnings ratio of 16.79, a P/E/G ratio of 1.16 and a beta of 1.10.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings data on Friday, October 31st. The bank reported $1.91 earnings per share for the quarter. Bank of New York Mellon had a return on equity of 14.37% and a net margin of 13.62%.The firm had revenue of $5.07 billion during the quarter. On average, analysts predict that The Bank of New York Mellon Corporation will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 5th. Stockholders of record on Friday, January 23rd were given a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend was Friday, January 23rd. Bank of New York Mellon’s dividend payout ratio is presently 28.61%.

Analyst Ratings Changes

BK has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods increased their price objective on shares of Bank of New York Mellon from $132.00 to $143.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 14th. Citigroup raised their price target on Bank of New York Mellon from $120.00 to $136.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 14th. TD Cowen upped their price objective on Bank of New York Mellon from $133.00 to $145.00 and gave the company a “buy” rating in a research report on Wednesday, January 7th. Weiss Ratings upgraded Bank of New York Mellon from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Tuesday, January 27th. Finally, Morgan Stanley upped their price target on shares of Bank of New York Mellon from $124.00 to $132.00 and gave the stock an “overweight” rating in a report on Wednesday, January 14th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $131.92.

Bank of New York Mellon Profile

Bank of New York Mellon Corporation (BNY Mellon) is a global financial services company headquartered in New York City that provides a wide range of asset servicing, custody, and related financial infrastructure solutions to institutional clients. Its core businesses include custody and asset servicing, clearing and collateral management, treasury services, securities lending, corporate trust services, and depositary receipt administration. The company also offers investment management and advisory services through its asset management arm and provides technology-enabled solutions for trade processing, foreign exchange, and liquidity management.

BNY Mellon serves a broad client base that includes asset managers, pension funds, corporations, banks, broker-dealers and sovereign entities.