Bailard Inc. Buys 7,344 Shares of The Bank of New York Mellon Corporation $BK

Bailard Inc. grew its stake in The Bank of New York Mellon Corporation (NYSE:BK) by 25.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 35,887 shares of the bank’s stock after buying an additional 7,344 shares during the period. Bailard Inc.’s holdings in Bank of New York Mellon were worth $3,910,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in BK. Westside Investment Management Inc. boosted its holdings in shares of 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 buying an additional 127 shares during the period. GFG Capital LLC bought a new stake in Bank of New York Mellon during the second quarter valued at about $36,000. Caldwell Trust Co acquired a new stake in shares of Bank of New York Mellon in the second quarter valued at about $36,000. Princeton Global Asset Management LLC grew its position in shares of Bank of New York Mellon by 89.0% in the second quarter. Princeton Global Asset Management LLC now owns 446 shares of the bank’s stock valued at $41,000 after purchasing an additional 210 shares during the last quarter. Finally, Quaker Wealth Management LLC increased its stake in shares of Bank of New York Mellon by 198.9% in the second quarter. Quaker Wealth Management LLC now owns 450 shares of the bank’s stock worth $41,000 after purchasing an additional 905 shares during the period. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Stock Performance

NYSE BK opened at $119.70 on Thursday. The stock has a market cap of $83.47 billion, a P/E ratio of 16.15, a PEG ratio of 1.13 and a beta of 1.11. The company has a quick ratio of 0.70, a current ratio of 0.71 and a debt-to-equity ratio of 0.81. The Bank of New York Mellon Corporation has a twelve month low of $70.46 and a twelve month high of $125.89. The company’s 50-day simple moving average is $115.61 and its 200 day simple moving average is $108.23.

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 for the quarter. Bank of New York Mellon had a return on equity of 14.37% and a net margin of 13.62%.The company had revenue of $5.07 billion for the quarter. As a group, research 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 5th. Shareholders of record on Friday, January 23rd will be paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 1.8%. The ex-dividend date is Friday, January 23rd. Bank of New York Mellon’s dividend payout ratio is currently 28.61%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on BK. Keefe, Bruyette & Woods raised their target price on Bank of New York Mellon from $132.00 to $143.00 and gave the company an “outperform” rating in a report on Wednesday, January 14th. New Street Research set a $143.00 price objective on Bank of New York Mellon in a research report on Wednesday, January 14th. Evercore ISI boosted their target price on shares of Bank of New York Mellon from $91.00 to $110.00 and gave the stock an “in-line” rating in a research report on Tuesday, September 30th. The Goldman Sachs Group upped their target price 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. Finally, Citigroup increased their price target 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. Eight research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, Bank of New York Mellon currently has an average rating of “Moderate Buy” and an average price target of $131.92.

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.