The Bank of New York Mellon Corporation $BK Stock Position Raised by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd raised its position in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 62.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,092 shares of the bank’s stock after purchasing an additional 5,818 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Bank of New York Mellon were worth $1,375,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BK. Nuveen LLC purchased a new stake in shares of Bank of New York Mellon during the 1st quarter worth about $773,627,000. AustralianSuper Pty Ltd purchased a new stake in shares of Bank of New York Mellon during the 1st quarter worth about $92,502,000. Goldman Sachs Group Inc. increased its holdings in shares of Bank of New York Mellon by 26.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 5,053,744 shares of the bank’s stock valued at $423,858,000 after acquiring an additional 1,052,145 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Bank of New York Mellon by 257.6% during the 1st quarter. Wellington Management Group LLP now owns 1,236,255 shares of the bank’s stock valued at $103,685,000 after acquiring an additional 890,593 shares during the last quarter. Finally, AQR Capital Management LLC increased its holdings in shares of Bank of New York Mellon by 37.7% during the 1st quarter. AQR Capital Management LLC now owns 3,244,204 shares of the bank’s stock valued at $266,349,000 after acquiring an additional 887,361 shares during the last quarter. 85.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on BK shares. BMO Capital Markets started coverage on Bank of New York Mellon in a report on Friday, October 3rd. They set an “outperform” rating and a $125.00 price objective on the stock. Wells Fargo & Company increased their price objective on Bank of New York Mellon from $100.00 to $109.00 and gave the company an “equal weight” rating in a report on Friday, October 17th. The Goldman Sachs Group increased their price objective on Bank of New York Mellon from $106.00 to $120.00 and gave the company a “buy” rating in a report on Monday, October 6th. Truist Financial increased their price objective on Bank of New York Mellon from $118.00 to $119.00 and gave the company a “hold” rating in a report on Friday, October 17th. Finally, Weiss Ratings raised Bank of New York Mellon from a “buy (b+)” rating to a “buy (a-)” rating in a report on Friday, October 24th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $111.29.

Bank of New York Mellon Stock Performance

BK opened at $107.99 on Monday. The firm has a market capitalization of $76.16 billion, a P/E ratio of 15.58, a price-to-earnings-growth ratio of 0.98 and a beta of 1.13. The stock’s 50 day moving average price is $106.69 and its two-hundred day moving average price is $96.99. The company has a quick ratio of 0.72, a current ratio of 0.70 and a debt-to-equity ratio of 0.83. The Bank of New York Mellon Corporation has a 12-month low of $70.46 and a 12-month high of $110.87.

Bank of New York Mellon (NYSE:BK) last released its earnings results on Tuesday, March 26th. The bank reported $1.30 earnings per share (EPS) for the quarter. The firm had revenue of $4.38 billion for the quarter. Bank of New York Mellon had a return on equity of 14.03% and a net margin of 12.86%. On average, equities analysts forecast that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 7th. Stockholders of record on Monday, October 27th will be issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Monday, October 27th. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 30.59%.

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.