Courier Capital LLC Buys 8,852 Shares of The Bank of New York Mellon Corporation $BK

Courier Capital LLC grew its stake in The Bank of New York Mellon Corporation (NYSE:BK) by 158.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,431 shares of the bank’s stock after acquiring an additional 8,852 shares during the period. Courier Capital LLC’s holdings in Bank of New York Mellon were worth $1,572,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Investment Management Corp of Ontario increased its stake in shares of Bank of New York Mellon by 25.9% during the second quarter. Investment Management Corp of Ontario now owns 125,506 shares of the bank’s stock valued at $11,435,000 after buying an additional 25,842 shares during the period. First National Advisers LLC bought a new position in Bank of New York Mellon during the 3rd quarter worth about $3,304,000. Permanent Capital Management LP purchased a new position in Bank of New York Mellon during the 3rd quarter valued at about $2,262,000. First Horizon Corp bought a new stake in shares of Bank of New York Mellon in the 3rd quarter valued at about $22,072,000. Finally, Robeco Institutional Asset Management B.V. lifted its position in shares of Bank of New York Mellon by 36.4% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 2,166,052 shares of the bank’s stock worth $236,013,000 after purchasing an additional 577,621 shares during the period. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Trading Down 2.1%

Shares of NYSE:BK opened at $121.34 on Tuesday. The business’s 50-day moving average is $115.28 and its 200 day moving average is $107.95. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.71 and a quick ratio of 0.70. The Bank of New York Mellon Corporation has a 1 year low of $70.46 and a 1 year high of $125.89. The firm has a market capitalization of $84.62 billion, a P/E ratio of 16.38, a P/E/G ratio of 1.13 and a beta of 1.11.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings data on Friday, October 31st. The bank reported $1.91 earnings per share (EPS) for the quarter. The firm had revenue of $5.07 billion for the quarter. Bank of New York Mellon had a net margin of 13.62% and a return on equity of 14.37%. On average, research analysts predict 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 business also recently declared a quarterly dividend, which will be paid on Thursday, February 5th. Shareholders of record on Friday, January 23rd will be issued a $0.53 dividend. The ex-dividend date of this dividend is Friday, January 23rd. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.7%. Bank of New York Mellon’s dividend payout ratio (DPR) is currently 28.61%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on BK shares. Truist Financial raised shares of Bank of New York Mellon from a “hold” rating to a “buy” rating and lifted their price objective for the company from $119.00 to $134.00 in a report on Wednesday, January 7th. The Goldman Sachs Group lifted their price target on Bank of New York Mellon from $106.00 to $120.00 and gave the company a “buy” rating in a report on Monday, October 6th. Weiss Ratings reissued a “buy (b+)” rating on shares of Bank of New York Mellon in a research report on Monday, December 29th. BMO Capital Markets began coverage on Bank of New York Mellon in a research report on Friday, October 3rd. They set an “outperform” rating and a $125.00 price objective on the stock. Finally, TD Cowen lifted their target price on Bank of New York Mellon from $133.00 to $145.00 and gave the company a “buy” rating in a research note on Wednesday, January 7th. Nine investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $129.00.

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.