Courier Capital LLC Acquires 8,852 Shares of The Bank of New York Mellon Corporation $BK

Courier Capital LLC grew its holdings in The Bank of New York Mellon Corporation (NYSE:BK) by 158.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,431 shares of the bank’s stock after acquiring an additional 8,852 shares during the period. Courier Capital LLC’s holdings in Bank of New York Mellon were worth $1,572,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in BK. Revolve Wealth Partners LLC bought a new stake in shares of Bank of New York Mellon during the fourth quarter valued at approximately $220,000. Sivia Capital Partners LLC grew its stake in Bank of New York Mellon by 36.6% during the second quarter. Sivia Capital Partners LLC now owns 3,394 shares of the bank’s stock valued at $309,000 after acquiring an additional 909 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in Bank of New York Mellon by 2.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 55,392 shares of the bank’s stock valued at $5,047,000 after acquiring an additional 1,503 shares during the last quarter. SeaCrest Wealth Management LLC lifted its stake in Bank of New York Mellon by 3.3% in the 2nd quarter. SeaCrest Wealth Management LLC now owns 6,204 shares of the bank’s stock worth $565,000 after purchasing an additional 197 shares in the last quarter. Finally, CX Institutional boosted its holdings in shares of Bank of New York Mellon by 6.8% during the 2nd quarter. CX Institutional now owns 9,177 shares of the bank’s stock valued at $836,000 after purchasing an additional 581 shares during the last quarter. 85.31% of the stock is owned by hedge funds and other institutional investors.

Bank of New York Mellon Price Performance

Bank of New York Mellon stock opened at $121.34 on Tuesday. The Bank of New York Mellon Corporation has a 12-month low of $70.46 and a 12-month high of $125.89. The company has a current ratio of 0.71, a quick ratio of 0.70 and a debt-to-equity ratio of 0.81. The firm has a 50-day moving average price of $115.28 and a 200-day moving average price of $107.95. The firm has a market capitalization of $84.62 billion, a PE ratio of 16.38, a price-to-earnings-growth ratio of 1.13 and a beta of 1.11.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings data 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 13.62% and a return on equity of 14.37%. The company had revenue of $5.07 billion for the quarter. As a group, equities research analysts forecast that The Bank of New York Mellon Corporation will post 6.96 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 5th. Investors of record on Friday, January 23rd will be issued a dividend of $0.53 per share. The ex-dividend date is Friday, January 23rd. This represents a $2.12 dividend on an annualized basis and a yield of 1.7%. Bank of New York Mellon’s payout ratio is presently 28.61%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on BK shares. Wells Fargo & Company raised their price target on Bank of New York Mellon from $119.00 to $122.00 and gave the company an “equal weight” rating in a report on Wednesday, January 14th. Citigroup raised their target price on shares of Bank of New York Mellon from $120.00 to $136.00 and gave the company a “neutral” rating in a report on Wednesday, January 14th. 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 note on Monday, October 6th. Morgan Stanley lifted their price objective on shares of Bank of New York Mellon from $124.00 to $132.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 14th. Finally, New Street Research set a $143.00 target price on shares of Bank of New York Mellon in a report on Wednesday, January 14th. Nine equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $129.00.

About Bank of New York Mellon

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.