Banque Cantonale Vaudoise Decreases Position in The Bank of New York Mellon Corporation $BK

Banque Cantonale Vaudoise decreased its holdings in The Bank of New York Mellon Corporation (NYSE:BK) by 32.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,346 shares of the bank’s stock after selling 25,146 shares during the quarter. Banque Cantonale Vaudoise’s holdings in Bank of New York Mellon were worth $5,703,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Ashton Thomas Private Wealth LLC boosted its stake in Bank of New York Mellon by 133.2% in the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 91,762 shares of the bank’s stock worth $9,998,000 after purchasing an additional 52,412 shares in the last quarter. Jones Financial Companies Lllp grew its position in Bank of New York Mellon by 35.1% during the 3rd quarter. Jones Financial Companies Lllp now owns 31,848 shares of the bank’s stock worth $3,487,000 after purchasing an additional 8,277 shares during the last quarter. Investment Management Corp of Ontario increased its stake in Bank of New York Mellon by 25.9% during the 2nd quarter. Investment Management Corp of Ontario now owns 125,506 shares of the bank’s stock valued at $11,435,000 after purchasing an additional 25,842 shares in the last quarter. First National Advisers LLC purchased a new position in shares of Bank of New York Mellon in the third quarter worth $3,304,000. Finally, First Horizon Corp purchased a new position in shares of Bank of New York Mellon in the third quarter worth $22,072,000. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BK has been the subject of several research reports. Morgan Stanley lifted their price objective on shares of Bank of New York Mellon from $124.00 to $132.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 14th. New Street Research set a $143.00 target price on Bank of New York Mellon in a research note on Wednesday, January 14th. Truist Financial raised Bank of New York Mellon from a “hold” rating to a “buy” rating and lifted their price target for the stock from $119.00 to $134.00 in a research report on Wednesday, January 7th. Weiss Ratings downgraded Bank of New York Mellon from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Friday, February 13th. Finally, Citigroup began coverage on Bank of New York Mellon in a report on Monday, February 23rd. They issued a “neutral” rating on the stock. Eight investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Bank of New York Mellon has a consensus rating of “Moderate Buy” and a consensus price target of $131.92.

Bank of New York Mellon Stock Down 0.0%

BK stock opened at $115.18 on Tuesday. The firm’s fifty day simple moving average is $119.65 and its 200-day simple moving average is $112.92. The company has a market capitalization of $79.27 billion, a P/E ratio of 15.54, a price-to-earnings-growth ratio of 1.08 and a beta of 1.10. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.71 and a quick ratio of 0.71. The Bank of New York Mellon Corporation has a 12 month low of $70.46 and a 12 month high of $128.76.

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

Bank of New York Mellon Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 5th. Shareholders of record on Friday, January 23rd were given 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 (DPR) is currently 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.