41,401 Shares in The Bank of New York Mellon Corporation $BK Bought by AlphaQuest LLC

AlphaQuest LLC acquired a new position in shares of The Bank of New York Mellon Corporation (NYSE:BK) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 41,401 shares of the bank’s stock, valued at approximately $4,511,000. Bank of New York Mellon accounts for 0.3% of AlphaQuest LLC’s portfolio, making the stock its 22nd largest position.

Several other institutional investors have also modified their holdings of BK. Westside Investment Management Inc. increased its stake in 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 in the last quarter. Valley Wealth Managers Inc. acquired a new stake in shares of Bank of New York Mellon in the third quarter worth approximately $33,000. GFG Capital LLC purchased a new stake in shares of Bank of New York Mellon during the second quarter worth approximately $36,000. Caldwell Trust Co purchased a new stake in shares of Bank of New York Mellon during the second quarter worth approximately $36,000. Finally, Princeton Global Asset Management LLC raised its stake in Bank of New York Mellon by 89.0% in the 2nd 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. Institutional investors and hedge funds own 85.31% of the company’s stock.

Bank of New York Mellon Trading Up 2.0%

Shares of BK stock opened at $121.33 on Friday. The Bank of New York Mellon Corporation has a 1-year low of $70.46 and a 1-year high of $125.89. The firm has a market cap of $84.61 billion, a PE ratio of 16.37, a price-to-earnings-growth ratio of 1.11 and a beta of 1.11. The company has a 50-day moving average of $116.93 and a two-hundred day moving average of $109.21. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.71 and a quick ratio of 0.70.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings results on Friday, October 31st. The bank reported $1.91 earnings per share (EPS) for the quarter. The business had revenue of $5.07 billion for the quarter. Bank of New York Mellon had a net margin of 13.62% and a return on equity of 14.37%. On average, analysts predict 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 declared 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 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Friday, January 23rd. Bank of New York Mellon’s dividend payout ratio is 28.61%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on BK shares. New Street Research set a $143.00 target price on shares of Bank of New York Mellon in a research note on Wednesday, January 14th. Wells Fargo & Company boosted their price target on shares of Bank of New York Mellon from $119.00 to $122.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 14th. TD Cowen increased their price objective on shares of Bank of New York Mellon from $133.00 to $145.00 and gave the company a “buy” rating in a report on Wednesday, January 7th. BMO Capital Markets initiated coverage on shares of Bank of New York Mellon in a research note on Friday, October 3rd. They issued an “outperform” rating and a $125.00 target price on the stock. Finally, The Goldman Sachs Group upped their price target on Bank of New York Mellon from $106.00 to $120.00 and gave the company a “buy” rating in a research report on Monday, October 6th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, Bank of New York Mellon presently has a consensus rating of “Moderate Buy” and an average target price of $131.92.

Bank of New York Mellon 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.