CORDA Investment Management LLC. Has $61.35 Million Position in The Bank of New York Mellon Corporation $BK

CORDA Investment Management LLC. lowered its position in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 14.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 563,020 shares of the bank’s stock after selling 97,369 shares during the period. Bank of New York Mellon accounts for approximately 4.3% of CORDA Investment Management LLC.’s investment portfolio, making the stock its 2nd biggest holding. CORDA Investment Management LLC. owned approximately 0.08% of Bank of New York Mellon worth $61,347,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of BK. Revolve Wealth Partners LLC acquired a new stake in Bank of New York Mellon in the fourth quarter worth $220,000. Caxton Associates LLP purchased a new stake in Bank of New York Mellon in the 1st quarter worth approximately $348,000. Woodline Partners LP increased its holdings in shares of Bank of New York Mellon by 38.9% in the 1st quarter. Woodline Partners LP now owns 60,633 shares of the bank’s stock worth $5,085,000 after buying an additional 16,969 shares during the last quarter. Focus Partners Wealth lifted its stake in shares of Bank of New York Mellon by 3.2% in the 1st quarter. Focus Partners Wealth now owns 34,424 shares of the bank’s stock valued at $2,887,000 after acquiring an additional 1,075 shares during the last quarter. Finally, Geneos Wealth Management Inc. increased its position in Bank of New York Mellon by 11.5% during the 1st quarter. Geneos Wealth Management Inc. now owns 10,690 shares of the bank’s stock valued at $897,000 after purchasing an additional 1,101 shares during the period. 85.31% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on BK shares. Truist Financial upgraded shares of Bank of New York Mellon from a “hold” rating to a “buy” rating and boosted their target price for the company from $119.00 to $134.00 in a research note on Wednesday. The Goldman Sachs Group upped their target price 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. Weiss Ratings reiterated a “buy (b+)” rating on shares of Bank of New York Mellon in a research report on Monday, December 29th. TD Cowen increased their price target on shares of Bank of New York Mellon from $133.00 to $145.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, BMO Capital Markets assumed coverage on shares of Bank of New York Mellon in a research note on Friday, October 3rd. They set an “outperform” rating and a $125.00 price objective for the company. Eleven equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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 company has a market capitalization of $83.01 billion, a price-to-earnings ratio of 17.18, a PEG ratio of 0.92 and a beta of 1.11. The Bank of New York Mellon Corporation has a one year low of $70.46 and a one year high of $122.36. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.70 and a quick ratio of 0.70. The company’s fifty day moving average price is $113.67 and its two-hundred day moving average price is $106.51.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings results on Friday, October 31st. The bank reported $1.91 earnings per share 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 $5.07 billion for the quarter. On average, analysts forecast that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 7th. Shareholders of record on Monday, October 27th were issued a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 1.8%. The ex-dividend date was Monday, October 27th. Bank of New York Mellon’s dividend payout ratio is 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.