ABN Amro Investment Solutions Sells 6,570 Shares of The Bank of New York Mellon Corporation $BK

ABN Amro Investment Solutions trimmed its stake in The Bank of New York Mellon Corporation (NYSE:BK) by 8.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 68,734 shares of the bank’s stock after selling 6,570 shares during the period. ABN Amro Investment Solutions’ holdings in Bank of New York Mellon were worth $7,489,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. GenTrust LLC lifted its holdings in Bank of New York Mellon by 6.7% in the third quarter. GenTrust LLC now owns 5,336 shares of the bank’s stock worth $581,000 after buying an additional 336 shares during the period. Balboa Wealth Partners raised its position in shares of Bank of New York Mellon by 7.0% in the 3rd quarter. Balboa Wealth Partners now owns 3,158 shares of the bank’s stock worth $344,000 after acquiring an additional 207 shares in the last quarter. Eagle Bluffs Wealth Management LLC bought a new position in shares of Bank of New York Mellon in the 3rd quarter worth approximately $218,000. CENTRAL TRUST Co lifted its stake in shares of Bank of New York Mellon by 72.0% in the 3rd quarter. CENTRAL TRUST Co now owns 5,292 shares of the bank’s stock valued at $577,000 after purchasing an additional 2,216 shares during the period. Finally, Assetmark Inc. lifted its stake in shares of Bank of New York Mellon by 29.1% in the 3rd quarter. Assetmark Inc. now owns 184,128 shares of the bank’s stock valued at $20,063,000 after purchasing an additional 41,473 shares during the period. Institutional investors own 85.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Barclays lifted their price target on shares of Bank of New York Mellon from $120.00 to $143.00 and gave the company an “overweight” rating in a research report on Monday, January 5th. Truist Financial upgraded shares of Bank of New York Mellon from a “hold” rating to a “buy” rating and increased their price objective for the company from $119.00 to $134.00 in a research report on Wednesday, January 7th. Wells Fargo & Company raised 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 research note on Wednesday, January 14th. Weiss Ratings cut Bank of New York Mellon from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Friday. Finally, Keefe, Bruyette & Woods increased 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. Eight equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $131.92.

Bank of New York Mellon Stock Performance

NYSE:BK opened at $117.67 on Friday. The stock has a 50-day simple moving average of $119.16 and a two-hundred day simple moving average of $111.04. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.70 and a current ratio of 0.71. The Bank of New York Mellon Corporation has a 52-week low of $70.46 and a 52-week high of $128.76. The firm has a market capitalization of $82.05 billion, a PE ratio of 15.88, a P/E/G ratio of 1.10 and a beta of 1.10.

Bank of New York Mellon (NYSE:BK) last announced 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 14.37% and a net margin of 13.62%.The company had revenue of $5.07 billion during the quarter. Analysts forecast that The Bank of New York Mellon Corporation will post 6.96 EPS for the current year.

Bank of New York Mellon Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 5th. Investors of record on Friday, January 23rd were paid a dividend of $0.53 per share. The ex-dividend date was Friday, January 23rd. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.8%. Bank of New York Mellon’s payout ratio is 28.61%.

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.