Hudson Bay Capital Management LP Makes New $752,000 Investment in The Bank of New York Mellon Corporation $BK

Hudson Bay Capital Management LP acquired a new stake in shares of The Bank of New York Mellon Corporation (NYSE:BK) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,904 shares of the bank’s stock, valued at approximately $752,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Valeo Financial Advisors LLC lifted its stake in shares of Bank of New York Mellon by 1.3% in the third quarter. Valeo Financial Advisors LLC now owns 7,539 shares of the bank’s stock valued at $821,000 after buying an additional 94 shares in the last quarter. Ferguson Wellman Capital Management Inc. grew its holdings in Bank of New York Mellon by 0.4% during the third quarter. Ferguson Wellman Capital Management Inc. now owns 24,752 shares of the bank’s stock worth $2,697,000 after buying an additional 96 shares in the last quarter. Leonard Rickey Investment Advisors P.L.L.C. raised its holdings in shares of Bank of New York Mellon by 1.9% in the third quarter. Leonard Rickey Investment Advisors P.L.L.C. now owns 5,192 shares of the bank’s stock valued at $566,000 after purchasing an additional 98 shares during the last quarter. Angeles Wealth Management LLC increased its stake in Bank of New York Mellon by 2.6% in the 3rd quarter. Angeles Wealth Management LLC now owns 3,798 shares of the bank’s stock valued at $414,000 after buying an additional 98 shares during the last quarter. Finally, Cary Street Partners Investment Advisory LLC increased its position in shares of Bank of New York Mellon by 13.7% during the second quarter. Cary Street Partners Investment Advisory LLC now owns 828 shares of the bank’s stock valued at $75,000 after acquiring an additional 100 shares during the last quarter. Institutional investors own 85.31% of the company’s stock.

Wall Street Analyst Weigh In

BK has been the subject of a number of recent research reports. New Street Research set a $143.00 target price on Bank of New York Mellon in a research report on Wednesday, January 14th. Citigroup started coverage on shares of Bank of New York Mellon in a research note on Monday, February 23rd. They issued a “neutral” rating on the stock. Truist Financial raised shares of Bank of New York Mellon from a “hold” rating to a “buy” rating and raised their target price for the company from $119.00 to $134.00 in a research note on Wednesday, January 7th. Weiss Ratings raised Bank of New York Mellon from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Wednesday, March 11th. Finally, Wells Fargo & Company increased 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 report on Wednesday, January 14th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have assigned a Hold rating to the company. According to 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 Stock Performance

BK stock opened at $114.87 on Monday. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.81. The Bank of New York Mellon Corporation has a 12-month low of $70.46 and a 12-month high of $128.76. The stock has a market capitalization of $79.06 billion, a PE ratio of 15.50, a price-to-earnings-growth ratio of 1.07 and a beta of 1.10. The stock’s 50 day simple moving average is $119.13 and its 200 day simple moving average is $113.63.

Bank of New York Mellon (NYSE:BK) last posted its earnings results on Friday, October 31st. The bank reported $1.91 EPS for the quarter. The business 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, research 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 Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, February 5th. Investors of record on Friday, January 23rd were given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date was Friday, January 23rd. Bank of New York Mellon’s payout ratio is currently 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.