Amundi Sells 822,466 Shares of The Bank of New York Mellon Corporation $BK

Amundi lessened its holdings in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 12.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 5,865,943 shares of the bank’s stock after selling 822,466 shares during the period. Amundi owned 0.83% of Bank of New York Mellon worth $540,195,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Westside Investment Management Inc. grew its holdings in Bank of New York Mellon by 78.9% during the 2nd quarter. Westside Investment Management Inc. now owns 288 shares of the bank’s stock worth $26,000 after acquiring an additional 127 shares during the last quarter. Orion Capital Management LLC acquired a new position in shares of Bank of New York Mellon during the first quarter worth approximately $32,000. Hoey Investments Inc. bought a new stake in shares of Bank of New York Mellon during the second quarter valued at approximately $32,000. GFG Capital LLC acquired a new stake in shares of Bank of New York Mellon in the second quarter valued at approximately $36,000. Finally, Wealth Preservation Advisors LLC bought a new position in Bank of New York Mellon in the 1st quarter worth approximately $39,000. 85.31% of the stock is owned by institutional investors.

Bank of New York Mellon Stock Performance

Shares of NYSE:BK opened at $113.93 on Friday. The firm’s 50 day simple moving average is $108.54 and its 200 day simple moving average is $101.44. The Bank of New York Mellon Corporation has a fifty-two week low of $70.46 and a fifty-two week high of $114.43. The company has a market capitalization of $79.45 billion, a price-to-earnings ratio of 16.44, a P/E/G ratio of 1.03 and a beta of 1.12. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.70 and a quick ratio of 0.70.

Bank of New York Mellon (NYSE:BK) last issued its earnings results on Tuesday, March 26th. The bank reported $1.30 EPS for the quarter. The firm had revenue of $4.38 billion during the quarter. Bank of New York Mellon had a net margin of 12.86% and a return on equity of 14.03%. As a group, sell-side 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 firm also recently announced a quarterly dividend, which was paid on Friday, November 7th. Shareholders of record on Monday, October 27th were issued a dividend of $0.53 per share. The ex-dividend date 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%.

Wall Street Analyst Weigh In

A number of brokerages have commented on BK. Evercore ISI increased their price objective on Bank of New York Mellon from $91.00 to $110.00 and gave the company an “in-line” rating in a research report on Tuesday, September 30th. Keefe, Bruyette & Woods upped their price target on Bank of New York Mellon from $120.00 to $124.00 and gave the company an “outperform” rating in a research note on Friday, October 17th. BMO Capital Markets began coverage on Bank of New York Mellon in a research report on Friday, October 3rd. They issued an “outperform” rating and a $125.00 price objective for the company. Morgan Stanley boosted their price objective on Bank of New York Mellon from $101.00 to $116.00 and gave the stock an “overweight” rating in a report on Monday, September 29th. Finally, Wells Fargo & Company raised their target price on shares of Bank of New York Mellon from $100.00 to $109.00 and gave the company an “equal weight” rating in a research note on Friday, October 17th. Ten investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Bank of New York Mellon presently has a consensus rating of “Moderate Buy” and an average target price of $111.29.

Bank of New York Mellon Company 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.