Candriam S.C.A. Sells 68,922 Shares of The Bank of New York Mellon Corporation $BK

Candriam S.C.A. reduced its stake in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 9.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 640,446 shares of the bank’s stock after selling 68,922 shares during the quarter. Candriam S.C.A. owned 0.09% of Bank of New York Mellon worth $69,783,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Westside Investment Management Inc. raised its holdings 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 valued at $26,000 after acquiring an additional 127 shares in the last quarter. Valley Wealth Managers Inc. bought a new stake in shares of Bank of New York Mellon during the third quarter valued at approximately $33,000. Caldwell Trust Co acquired a new position in shares of Bank of New York Mellon in the second quarter valued at $36,000. Princeton Global Asset Management LLC lifted its position in 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 worth $41,000 after purchasing an additional 210 shares during the period. Finally, 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 in the last quarter. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Trading Up 3.2%

Shares of BK opened at $124.42 on Monday. 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 company has a market cap of $86.76 billion, a price-to-earnings ratio of 16.79, a PEG ratio of 1.16 and a beta of 1.10. The stock has a fifty day moving average price of $118.30 and a two-hundred day moving average price of $110.38. The Bank of New York Mellon Corporation has a 52-week low of $70.46 and a 52-week high of $125.89.

Bank of New York Mellon (NYSE:BK) last announced 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 company had revenue of $5.07 billion during the quarter. Analysts predict 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 business also recently announced a quarterly dividend, which was paid on Thursday, February 5th. Stockholders of record on Friday, January 23rd were given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date was Friday, January 23rd. Bank of New York Mellon’s dividend payout ratio is presently 28.61%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on BK shares. New Street Research set a $143.00 price objective on shares of Bank of New York Mellon in a research note on Wednesday, January 14th. Keefe, Bruyette & Woods increased their price target on shares of Bank of New York Mellon from $132.00 to $143.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 14th. Morgan Stanley lifted their price objective on Bank of New York Mellon from $124.00 to $132.00 and gave the company an “overweight” rating in a report on Wednesday, January 14th. Wells Fargo & Company upped their price objective on Bank of New York Mellon from $119.00 to $122.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 14th. Finally, TD Cowen raised their target price on Bank of New York Mellon from $133.00 to $145.00 and gave the stock a “buy” rating in a research report on Wednesday, January 7th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $131.92.

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.