Brandes Investment Partners LP Decreases Holdings in The Bank of New York Mellon Corporation $BK

Brandes Investment Partners LP trimmed its stake in The Bank of New York Mellon Corporation (NYSE:BK) by 10.5% during the second quarter, Holdings Channel reports. The fund owned 1,537,771 shares of the bank’s stock after selling 180,479 shares during the period. Bank of New York Mellon makes up approximately 1.3% of Brandes Investment Partners LP’s portfolio, making the stock its 26th largest position. Brandes Investment Partners LP’s holdings in Bank of New York Mellon were worth $140,107,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Westside Investment Management Inc. lifted its stake in Bank of New York Mellon by 78.9% in the second 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 last quarter. Orion Capital Management LLC bought a new stake in shares of Bank of New York Mellon in the first quarter valued at $32,000. Hoey Investments Inc. purchased a new position in shares of Bank of New York Mellon during the 2nd quarter valued at $32,000. McClarren Financial Advisors Inc. bought a new position in shares of Bank of New York Mellon during the 1st quarter worth $34,000. Finally, GFG Capital LLC bought a new position in shares of Bank of New York Mellon during the 2nd quarter worth $36,000. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Stock Down 0.3%

Shares of NYSE:BK opened at $111.80 on Tuesday. The firm has a fifty day moving average price of $108.27 and a two-hundred day moving average price of $101.11. The company has a market cap of $77.97 billion, a price-to-earnings ratio of 16.13, a PEG ratio of 0.98 and a beta of 1.13. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.70 and a quick ratio of 0.72. The Bank of New York Mellon Corporation has a one year low of $70.46 and a one year high of $113.74.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings results on Tuesday, March 26th. The bank reported $1.30 earnings per share for the quarter. The firm had revenue of $4.38 billion for the quarter. Bank of New York Mellon had a net margin of 12.86% and a return on equity of 14.03%. Analysts anticipate 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 firm also recently declared a quarterly dividend, which was paid on Friday, November 7th. Shareholders of record on Monday, October 27th were issued a $0.53 dividend. The ex-dividend date of this dividend was Monday, October 27th. This represents a $2.12 annualized dividend and a dividend yield of 1.9%. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 30.59%.

Analyst Ratings Changes

BK has been the subject of a number of research reports. BMO Capital Markets started coverage on shares of Bank of New York Mellon in a research report on Friday, October 3rd. They set an “outperform” rating and a $125.00 target price for the company. Barclays lifted their price objective on shares of Bank of New York Mellon from $104.00 to $120.00 and gave the company an “overweight” rating in a research note on Friday, October 17th. The Goldman Sachs Group increased their target price on Bank of New York Mellon from $106.00 to $120.00 and gave the stock a “buy” rating in a research report on Monday, October 6th. TD Cowen raised their price target on Bank of New York Mellon from $130.00 to $133.00 and gave the stock a “buy” rating in a report on Monday, October 20th. Finally, Keefe, Bruyette & Woods lifted their price target on Bank of New York Mellon from $120.00 to $124.00 and gave the company an “outperform” rating in a research report on Friday, October 17th. Ten equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, Bank of New York Mellon currently has an average rating of “Moderate Buy” and a consensus price target of $111.29.

Bank of New York Mellon Profile

The Bank of New York Mellon Corporation provides a range of financial products and services in the United States and internationally. The company operates through Securities Services, Market and Wealth Services, Investment and Wealth Management, and other segments. The Securities Services segment offers custody, trust and depositary, accounting, exchange-traded funds, middle-office solutions, transfer agency, services for private equity and real estate funds, foreign exchange, securities lending, liquidity/lending services, and data analytics.