Bank of New York Mellon Corp Trims Position in The Bank of New York Mellon Corporation $BK

Bank of New York Mellon Corp reduced its holdings in The Bank of New York Mellon Corporation (NYSE:BK) by 0.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,785,759 shares of the bank’s stock after selling 35,882 shares during the period. Bank of New York Mellon Corp owned about 0.54% of Bank of New York Mellon worth $412,496,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in BK. Revolve Wealth Partners LLC acquired a new stake in Bank of New York Mellon during the 4th quarter worth about $220,000. Sivia Capital Partners LLC lifted its holdings in shares of Bank of New York Mellon by 36.6% in the 2nd quarter. Sivia Capital Partners LLC now owns 3,394 shares of the bank’s stock valued at $309,000 after buying an additional 909 shares during the period. GC Wealth Management RIA LLC purchased a new position in Bank of New York Mellon during the second quarter valued at approximately $342,000. Janney Montgomery Scott LLC lifted its holdings in Bank of New York Mellon by 2.3% in the second quarter. Janney Montgomery Scott LLC now owns 133,089 shares of the bank’s stock valued at $12,126,000 after acquiring an additional 2,965 shares during the period. Finally, HB Wealth Management LLC lifted its holdings in Bank of New York Mellon by 7.4% in the second quarter. HB Wealth Management LLC now owns 32,050 shares of the bank’s stock valued at $2,920,000 after acquiring an additional 2,201 shares during the period. Institutional investors and hedge funds own 85.31% of the company’s stock.

Analyst Upgrades and Downgrades

BK has been the subject of several recent research reports. The Goldman Sachs Group lifted 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 report on Monday, October 6th. Barclays lifted their price objective on shares of Bank of New York Mellon from $120.00 to $143.00 and gave the company an “overweight” rating in a report on Monday, January 5th. Weiss Ratings raised shares of Bank of New York Mellon from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Tuesday. BMO Capital Markets assumed coverage on Bank of New York Mellon in a research report on Friday, October 3rd. They set an “outperform” rating and a $125.00 target price on the stock. Finally, Wells Fargo & Company upped their price target on Bank of New York Mellon from $119.00 to $122.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 14th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $131.92.

Bank of New York Mellon Trading Up 2.0%

BK stock opened at $121.33 on Friday. The Bank of New York Mellon Corporation has a 12-month low of $70.46 and a 12-month high of $125.89. The business’s 50-day moving average is $116.93 and its 200 day moving average is $109.21. 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 stock has a market cap of $84.61 billion, a price-to-earnings ratio of 16.37, a PEG ratio of 1.11 and a beta of 1.11.

Bank of New York Mellon (NYSE:BK) last released its earnings results 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 business had revenue of $5.07 billion for the quarter. On average, sell-side analysts anticipate that The Bank of New York Mellon Corporation will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 5th. Stockholders of record on Friday, January 23rd will be paid a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, January 23rd. Bank of New York Mellon’s dividend payout ratio (DPR) is currently 28.61%.

Bank of New York Mellon Company 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.