The Bank of New York Mellon Corporation $BK Stake Lifted by Cresset Asset Management LLC

Cresset Asset Management LLC increased its position in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 42.2% during the 2nd quarter, Holdings Channel.com reports. The firm owned 29,384 shares of the bank’s stock after buying an additional 8,722 shares during the quarter. Cresset Asset Management LLC’s holdings in Bank of New York Mellon were worth $2,677,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Revolve Wealth Partners LLC bought a new stake in shares of Bank of New York Mellon in the 4th quarter worth $220,000. Chicago Partners Investment Group LLC acquired a new position in Bank of New York Mellon during the first quarter worth about $331,000. Townsquare Capital LLC raised its position in Bank of New York Mellon by 2.5% in the first quarter. Townsquare Capital LLC now owns 30,272 shares of the bank’s stock worth $2,539,000 after acquiring an additional 728 shares in the last quarter. Zions Bancorporation National Association UT acquired a new stake in Bank of New York Mellon in the 1st quarter valued at about $56,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Bank of New York Mellon during the 1st quarter valued at about $2,868,000. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Bank of New York Mellon Price Performance

BK opened at $114.27 on Tuesday. The firm has a market capitalization of $79.68 billion, a P/E ratio of 16.49, a PEG ratio of 1.03 and a beta of 1.12. The stock has a fifty day moving average of $108.72 and a 200-day moving average of $101.95. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.83. The Bank of New York Mellon Corporation has a 12-month low of $70.46 and a 12-month high of $114.99.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings results on Tuesday, March 26th. The bank reported $1.30 earnings per share for the quarter. The business had revenue of $4.38 billion for the quarter. Bank of New York Mellon had a return on equity of 14.03% and a net margin of 12.86%. Equities analysts forecast that The Bank of New York Mellon Corporation will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 7th. Stockholders of record on Monday, October 27th were issued a $0.53 dividend. The ex-dividend date was Monday, October 27th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.9%. Bank of New York Mellon’s dividend payout ratio is currently 30.59%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Keefe, Bruyette & Woods boosted their target price on shares of Bank of New York Mellon from $120.00 to $124.00 and gave the stock an “outperform” rating in a report on Friday, October 17th. The Goldman Sachs Group lifted their price target on shares of 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. BMO Capital Markets started coverage on Bank of New York Mellon in a report on Friday, October 3rd. They issued an “outperform” rating and a $125.00 price target on the stock. Morgan Stanley raised their price objective on Bank of New York Mellon from $101.00 to $116.00 and gave the stock an “overweight” rating in a research note on Monday, September 29th. Finally, Barclays lifted their target price on Bank of New York Mellon from $104.00 to $120.00 and gave the stock an “overweight” rating in a report on Friday, October 17th. Ten analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price 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.