Accredited Investors Inc. Decreases Position in The Bank of New York Mellon Corporation $BK

Accredited Investors Inc. decreased its holdings in The Bank of New York Mellon Corporation (NYSE:BK) by 13.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,335 shares of the bank’s stock after selling 500 shares during the quarter. Accredited Investors Inc.’s holdings in Bank of New York Mellon were worth $304,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. Revolve Wealth Partners LLC acquired a new stake in Bank of New York Mellon in the fourth quarter worth about $220,000. Cerity Partners LLC increased its holdings in shares of Bank of New York Mellon by 42.0% during the first quarter. Cerity Partners LLC now owns 86,535 shares of the bank’s stock valued at $7,258,000 after acquiring an additional 25,600 shares in the last quarter. Bleakley Financial Group LLC raised its position in shares of Bank of New York Mellon by 10.2% in the 1st quarter. Bleakley Financial Group LLC now owns 12,392 shares of the bank’s stock valued at $1,039,000 after purchasing an additional 1,148 shares during the last quarter. Edgestream Partners L.P. boosted its stake in Bank of New York Mellon by 4.2% in the 1st quarter. Edgestream Partners L.P. now owns 36,393 shares of the bank’s stock worth $3,052,000 after purchasing an additional 1,463 shares in the last quarter. Finally, Signaturefd LLC grew its position in Bank of New York Mellon by 9.9% during the 1st quarter. Signaturefd LLC now owns 15,836 shares of the bank’s stock worth $1,328,000 after purchasing an additional 1,428 shares during the last quarter. 85.31% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Evercore ISI raised their price target on shares of Bank of New York Mellon from $91.00 to $110.00 and gave the stock an “in-line” rating in a report on Tuesday, September 30th. Weiss Ratings cut Bank of New York Mellon from a “buy (a-)” rating to a “buy (b)” rating in a report on Friday, November 7th. Barclays lifted their price objective on shares of Bank of New York Mellon from $104.00 to $120.00 and gave the company an “overweight” rating in a report on Friday, October 17th. The Goldman Sachs Group upped their target price on Bank of New York Mellon from $106.00 to $120.00 and gave the stock a “buy” rating in a research note on Monday, October 6th. Finally, BMO Capital Markets initiated coverage on shares of Bank of New York Mellon in a research report on Friday, October 3rd. They set an “outperform” rating and a $125.00 price target for the company. Ten equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $111.29.

Bank of New York Mellon Stock Performance

Shares of Bank of New York Mellon stock opened at $112.62 on Thursday. 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 firm has a market cap of $78.54 billion, a PE ratio of 16.25, a price-to-earnings-growth ratio of 0.98 and a beta of 1.13. The business’s fifty day simple moving average is $107.46 and its 200-day simple moving average is $98.69. The Bank of New York Mellon Corporation has a 52 week low of $70.46 and a 52 week high of $113.74.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings results on Tuesday, March 26th. The bank reported $1.30 earnings per share (EPS) for the quarter. Bank of New York Mellon had a net margin of 12.86% and a return on equity of 14.03%. The business had revenue of $4.38 billion for the quarter. 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 Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 7th. Investors of record on Monday, October 27th were issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date was Monday, October 27th. Bank of New York Mellon’s dividend payout ratio (DPR) is 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.