Caisse Des Depots ET Consignations Lowers Stock Holdings in The Bank of New York Mellon Corporation $BK

Caisse Des Depots ET Consignations cut its holdings in The Bank of New York Mellon Corporation (NYSE:BK) by 42.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 43,217 shares of the bank’s stock after selling 32,012 shares during the period. Caisse Des Depots ET Consignations’ holdings in Bank of New York Mellon were worth $4,709,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. Westside Investment Management Inc. lifted its position in Bank of New York Mellon by 78.9% during the second quarter. Westside Investment Management Inc. now owns 288 shares of the bank’s stock worth $26,000 after buying an additional 127 shares during the period. Valley Wealth Managers Inc. purchased a new stake in Bank of New York Mellon in the 3rd quarter valued at about $33,000. Caldwell Trust Co acquired a new position in shares of Bank of New York Mellon during the 2nd quarter valued at about $36,000. Princeton Global Asset Management LLC lifted its holdings in shares of Bank of New York Mellon by 89.0% during the 2nd quarter. Princeton Global Asset Management LLC now owns 446 shares of the bank’s stock worth $41,000 after acquiring an additional 210 shares during the period. Finally, Quaker Wealth Management LLC boosted its position in shares of 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 worth $41,000 after acquiring an additional 905 shares during the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Bank of New York Mellon Stock Down 3.8%

Shares of NYSE:BK opened at $121.67 on Thursday. The company has a market capitalization 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 company has a 50 day moving average of $119.07 and a two-hundred day moving average of $110.83. The Bank of New York Mellon Corporation has a 52-week low of $70.46 and a 52-week high of $128.76. The company has a quick ratio of 0.70, a current ratio of 0.71 and a debt-to-equity ratio of 0.81.

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 net margin of 13.62% and a return on equity of 14.37%. The business had revenue of $5.07 billion during the quarter. As a group, analysts forecast 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 Announces Dividend

The firm 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 of this dividend was Friday, January 23rd. Bank of New York Mellon’s payout ratio is presently 28.61%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on BK. TD Cowen boosted their target price 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. Keefe, Bruyette & Woods boosted their price objective on shares of Bank of New York Mellon from $132.00 to $143.00 and gave the company an “outperform” rating in a research note on Wednesday, January 14th. Morgan Stanley upped their price objective on Bank of New York Mellon from $124.00 to $132.00 and gave the stock an “overweight” rating in a report on Wednesday, January 14th. New Street Research set a $143.00 target price on Bank of New York Mellon in a report on Wednesday, January 14th. Finally, Truist Financial raised Bank of New York Mellon from a “hold” rating to a “buy” rating and boosted their price target for the company from $119.00 to $134.00 in a research report on Wednesday, January 7th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Bank of New York Mellon has a consensus rating of “Moderate Buy” and an average price target 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.