The Bank of New York Mellon Corporation $BK Shares Sold by Beverly Hills Private Wealth LLC

Beverly Hills Private Wealth LLC decreased its stake in The Bank of New York Mellon Corporation (NYSE:BK) by 20.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,458 shares of the bank’s stock after selling 4,891 shares during the quarter. Beverly Hills Private Wealth LLC’s holdings in Bank of New York Mellon were worth $2,011,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of BK. Westside Investment Management Inc. lifted its stake in Bank of New York Mellon by 78.9% in the 2nd quarter. Westside Investment Management Inc. now owns 288 shares of the bank’s stock worth $26,000 after purchasing an additional 127 shares in the last quarter. Valley Wealth Managers Inc. acquired a new stake in shares of Bank of New York Mellon in the third quarter valued at approximately $33,000. Caldwell Trust Co purchased a new position in Bank of New York Mellon during the second quarter worth approximately $36,000. Quaker Wealth Management LLC boosted its stake in Bank of New York Mellon by 198.9% during the second quarter. Quaker Wealth Management LLC now owns 450 shares of the bank’s stock worth $41,000 after buying an additional 905 shares during the last quarter. Finally, Cornerstone Planning Group LLC boosted its stake in Bank of New York Mellon by 73.2% during the third quarter. Cornerstone Planning Group LLC now owns 511 shares of the bank’s stock worth $55,000 after buying an additional 216 shares during the last quarter. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BK has been the topic of several analyst reports. Wells Fargo & Company lifted 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. Weiss Ratings lowered shares of Bank of New York Mellon from a “buy (a-)” rating to a “buy (b+)” rating in a report on Friday, February 13th. New Street Research set a $143.00 price target on shares of Bank of New York Mellon in a research note on Wednesday, January 14th. TD Cowen lifted their price target on shares of Bank of New York Mellon from $133.00 to $145.00 and gave the company a “buy” rating in a research report on Wednesday, January 7th. Finally, Truist Financial upgraded Bank of New York Mellon from a “hold” rating to a “buy” rating and increased their price objective for the stock from $119.00 to $134.00 in a research report on Wednesday, January 7th. Eight research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Bank of New York Mellon currently has an average rating of “Moderate Buy” and an average target price of $131.92.

Bank of New York Mellon Price Performance

BK stock opened at $118.16 on Friday. The business’s fifty day moving average price is $119.30 and its 200 day moving average price is $111.45. The Bank of New York Mellon Corporation has a 12-month low of $70.46 and a 12-month high of $128.76. 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 company has a market capitalization of $82.40 billion, a PE ratio of 15.95, a P/E/G ratio of 1.12 and a beta of 1.10.

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. The company had revenue of $5.07 billion during the quarter. Bank of New York Mellon had a return on equity of 14.37% and a net margin of 13.62%. On average, sell-side analysts anticipate 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 firm 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. This represents a $2.12 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend was Friday, January 23rd. Bank of New York Mellon’s dividend payout ratio is presently 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.