Bayforest Capital Ltd Buys New Shares in The Bank of New York Mellon Corporation $BK

Bayforest Capital Ltd bought a new position in shares of The Bank of New York Mellon Corporation (NYSE:BK) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 5,404 shares of the bank’s stock, valued at approximately $589,000.

Other institutional investors also recently modified their holdings of the company. Cedar Mountain Advisors LLC bought a new stake in shares of Bank of New York Mellon during the 3rd quarter worth $322,000. Forum Financial Management LP lifted its holdings in shares of Bank of New York Mellon by 6.4% during the third quarter. Forum Financial Management LP now owns 22,303 shares of the bank’s stock valued at $2,430,000 after purchasing an additional 1,350 shares during the last quarter. ORG Wealth Partners LLC boosted its position in shares of Bank of New York Mellon by 59.2% in the 3rd quarter. ORG Wealth Partners LLC now owns 1,641 shares of the bank’s stock valued at $179,000 after purchasing an additional 610 shares during the period. MASTERINVEST Kapitalanlage GmbH increased its stake in Bank of New York Mellon by 4.0% in the 3rd quarter. MASTERINVEST Kapitalanlage GmbH now owns 8,694 shares of the bank’s stock worth $947,000 after purchasing an additional 331 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund raised its holdings in Bank of New York Mellon by 30.6% during the 3rd quarter. Oregon Public Employees Retirement Fund now owns 80,630 shares of the bank’s stock worth $8,785,000 after buying an additional 18,872 shares during the period. Institutional investors own 85.31% of the company’s stock.

Analysts Set New Price Targets

BK has been the subject of several recent analyst reports. Truist Financial upgraded shares of Bank of New York Mellon from a “hold” rating to a “buy” rating and raised their target price for the stock from $119.00 to $134.00 in a report on Wednesday. The Goldman Sachs Group upped 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 $133.00 to $145.00 and gave the stock a “buy” rating in a research report on Wednesday. Wells Fargo & Company increased their target price 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. Finally, Evercore ISI lifted their price target on Bank of New York Mellon from $91.00 to $110.00 and gave the company an “in-line” rating in a report on Tuesday, September 30th. Eleven analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $115.43.

Bank of New York Mellon Trading Down 0.8%

Bank of New York Mellon stock opened at $119.03 on Friday. The Bank of New York Mellon Corporation has a 12 month low of $70.46 and a 12 month high of $122.36. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.83. The stock has a market cap of $83.01 billion, a P/E ratio of 17.18, a P/E/G ratio of 0.92 and a beta of 1.11. The company’s fifty day simple moving average is $113.67 and its 200-day simple moving average is $106.51.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings data on Friday, October 31st. The bank reported $1.91 earnings per share (EPS) for the quarter. Bank of New York Mellon had a return on equity of 14.03% and a net margin of 12.86%.The firm had revenue of $5.07 billion during the quarter. As a group, sell-side analysts forecast 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 company also recently disclosed a quarterly dividend, which was paid on Friday, November 7th. Investors of record on Monday, October 27th were issued a $0.53 dividend. The ex-dividend date was Monday, October 27th. This represents a $2.12 dividend on an annualized basis and a yield of 1.8%. Bank of New York Mellon’s dividend payout ratio is currently 30.59%.

Bank of New York Mellon 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.