Skandinaviska Enskilda Banken AB publ Has $43.93 Million Stake in The Bank of New York Mellon Corporation $BK

Skandinaviska Enskilda Banken AB publ lowered its stake in The Bank of New York Mellon Corporation (NYSE:BK) by 14.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 403,216 shares of the bank’s stock after selling 70,539 shares during the period. Skandinaviska Enskilda Banken AB publ owned 0.06% of Bank of New York Mellon worth $43,934,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Bank of New York Mellon in the 2nd quarter valued at $1,081,847,000. Qube Research & Technologies Ltd acquired a new position in shares of Bank of New York Mellon during the second quarter valued at $135,728,000. Geode Capital Management LLC boosted its holdings in Bank of New York Mellon by 4.3% in the second quarter. Geode Capital Management LLC now owns 18,898,373 shares of the bank’s stock valued at $1,717,074,000 after acquiring an additional 785,478 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its position in Bank of New York Mellon by 36.4% in the third quarter. Robeco Institutional Asset Management B.V. now owns 2,166,052 shares of the bank’s stock worth $236,013,000 after purchasing an additional 577,621 shares during the period. Finally, Bank of Nova Scotia raised its holdings in Bank of New York Mellon by 698.6% during the 2nd quarter. Bank of Nova Scotia now owns 651,135 shares of the bank’s stock worth $59,325,000 after purchasing an additional 569,602 shares during the last quarter. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Trading Up 2.4%

BK opened at $117.67 on Tuesday. The firm’s fifty day moving average is $119.23 and its two-hundred day moving average is $111.21. The firm has a market cap of $82.05 billion, a PE ratio of 15.88, a price-to-earnings-growth ratio of 1.10 and a beta of 1.10. The Bank of New York Mellon Corporation has a twelve month low of $70.46 and a twelve month high of $128.76. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.70 and a current ratio of 0.71.

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

Bank of New York Mellon Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 5th. Shareholders of record on Friday, January 23rd were issued a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 1.8%. The ex-dividend date was Friday, January 23rd. Bank of New York Mellon’s dividend payout ratio is 28.61%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on BK shares. Morgan Stanley raised their target price on shares of Bank of New York Mellon from $124.00 to $132.00 and gave the company an “overweight” rating in a research note on Wednesday, January 14th. Truist Financial raised shares of Bank of New York Mellon from a “hold” rating to a “buy” rating and raised their price objective for the company from $119.00 to $134.00 in a research note on Wednesday, January 7th. Barclays lifted their target price on shares of Bank of New York Mellon from $120.00 to $143.00 and gave the stock an “overweight” rating in a report on Monday, January 5th. Wells Fargo & Company increased their price target on Bank of New York Mellon from $119.00 to $122.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 14th. Finally, Weiss Ratings cut Bank of New York Mellon from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Friday. Eight investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $131.92.

Bank of New York Mellon Company 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.