Caprock Group LLC Buys New Stake in The Bank of New York Mellon Corporation $BK

Caprock Group LLC purchased a new position in The Bank of New York Mellon Corporation (NYSE:BK) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 54,050 shares of the bank’s stock, valued at approximately $5,708,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BK. Westside Investment Management Inc. grew its stake in shares of 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 purchasing an additional 127 shares during the period. Valley Wealth Managers Inc. bought a new position in shares of Bank of New York Mellon during the 3rd quarter worth approximately $33,000. Caldwell Trust Co acquired a new stake in Bank of New York Mellon in the 2nd quarter valued at $36,000. Princeton Global Asset Management LLC grew 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 valued at $41,000 after acquiring an additional 210 shares during the period. Finally, Quaker Wealth Management LLC grew its position in Bank of New York Mellon by 198.9% in the second quarter. Quaker Wealth Management LLC now owns 450 shares of the bank’s stock valued at $41,000 after acquiring an additional 905 shares during the period. Institutional investors own 85.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on BK shares. Citigroup lifted their price objective on Bank of New York Mellon from $120.00 to $136.00 and gave the company a “neutral” rating in a report on Wednesday, January 14th. TD Cowen increased their target price on shares of 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. Keefe, Bruyette & Woods lifted their price target on shares of 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. 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, January 27th. Finally, Wells Fargo & Company raised their price objective on shares of 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 equities 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.com, the stock has an average rating of “Moderate Buy” and an average price target of $131.92.

Bank of New York Mellon Stock Performance

Shares of Bank of New York Mellon stock opened at $121.67 on Thursday. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.71 and a quick ratio of 0.70. The firm has a market cap of $84.85 billion, a price-to-earnings ratio of 16.42, a price-to-earnings-growth ratio of 1.18 and a beta of 1.10. The stock’s 50-day moving average is $119.07 and its 200-day moving average is $110.83. The Bank of New York Mellon Corporation has a one year low of $70.46 and a one year high of $128.76.

Bank of New York Mellon (NYSE:BK) last released its earnings results on Friday, October 31st. The bank reported $1.91 EPS for the quarter. The firm had revenue of $5.07 billion for the quarter. Bank of New York Mellon had a return on equity of 14.37% and a net margin of 13.62%. Equities analysts predict that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 5th. Stockholders of record on Friday, January 23rd were issued a $0.53 dividend. The ex-dividend date was Friday, January 23rd. This represents a $2.12 annualized dividend and a dividend yield of 1.7%. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 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.