Brandes Investment Partners LP Sells 180,479 Shares of The Bank of New York Mellon Corporation $BK

Brandes Investment Partners LP trimmed its stake in The Bank of New York Mellon Corporation (NYSE:BK) by 10.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,537,771 shares of the bank’s stock after selling 180,479 shares during the quarter. Bank of New York Mellon comprises about 1.3% of Brandes Investment Partners LP’s holdings, making the stock its 26th biggest position. Brandes Investment Partners LP owned 0.22% of Bank of New York Mellon worth $140,107,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Westside Investment Management Inc. grew its stake in shares of Bank of New York Mellon by 78.9% in the 2nd quarter. Westside Investment Management Inc. now owns 288 shares of the bank’s stock valued at $26,000 after buying an additional 127 shares during the period. Hoey Investments Inc. bought a new position in Bank of New York Mellon in the second quarter worth approximately $32,000. Orion Capital Management LLC acquired a new stake in Bank of New York Mellon in the first quarter valued at approximately $32,000. GFG Capital LLC bought a new stake in shares of Bank of New York Mellon during the second quarter valued at approximately $36,000. Finally, McClarren Financial Advisors Inc. acquired a new position in shares of Bank of New York Mellon during the first quarter worth approximately $34,000. Institutional investors and hedge funds own 85.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. The Goldman Sachs Group lifted their price target on shares of Bank of New York Mellon from $106.00 to $120.00 and gave the company a “buy” rating in a research report on Monday, October 6th. TD Cowen lifted their price objective on shares of Bank of New York Mellon from $130.00 to $133.00 and gave the company a “buy” rating in a report on Monday, October 20th. Citigroup upped their target price on shares of Bank of New York Mellon from $92.00 to $105.00 and gave the stock a “neutral” rating in a report on Friday, September 5th. Barclays raised their price target on shares of Bank of New York Mellon from $104.00 to $120.00 and gave the company an “overweight” rating in a research report on Friday, October 17th. Finally, 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 for the company. Ten research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $111.29.

Bank of New York Mellon Stock Down 0.3%

Bank of New York Mellon stock opened at $111.80 on Tuesday. The Bank of New York Mellon Corporation has a fifty-two week low of $70.46 and a fifty-two week high of $113.74. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.72 and a current ratio of 0.70. The firm’s 50-day simple moving average is $108.27 and its 200 day simple moving average is $101.11. The stock has a market cap of $77.97 billion, a PE ratio of 16.13, a price-to-earnings-growth ratio of 0.98 and a beta of 1.13.

Bank of New York Mellon (NYSE:BK) last posted its earnings results on Tuesday, March 26th. The bank reported $1.30 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 firm had revenue of $4.38 billion for the quarter. Research 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 7th. Shareholders of record on Monday, October 27th were given a $0.53 dividend. The ex-dividend date of this dividend was Monday, October 27th. This represents a $2.12 annualized dividend and a yield of 1.9%. Bank of New York Mellon’s payout ratio is currently 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.