The Bank of New York Mellon Corporation $BK Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp decreased its stake in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 0.9% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 3,785,759 shares of the bank’s stock after selling 35,882 shares during the quarter. Bank of New York Mellon Corp’s holdings in Bank of New York Mellon were worth $412,496,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in BK. Westside Investment Management Inc. raised its holdings in shares of Bank of New York Mellon by 78.9% during the 2nd quarter. Westside Investment Management Inc. now owns 288 shares of the bank’s stock worth $26,000 after acquiring an additional 127 shares during the period. GFG Capital LLC purchased a new position in Bank of New York Mellon during the second quarter worth about $36,000. Caldwell Trust Co purchased a new position in Bank of New York Mellon during the second quarter worth about $36,000. Princeton Global Asset Management LLC grew its stake in shares of Bank of New York Mellon by 89.0% in the 2nd quarter. Princeton Global Asset Management LLC now owns 446 shares of the bank’s stock valued at $41,000 after buying an additional 210 shares during the period. Finally, Quaker Wealth Management LLC grew its stake in shares of Bank of New York Mellon by 198.9% in the 2nd quarter. Quaker Wealth Management LLC now owns 450 shares of the bank’s stock valued at $41,000 after buying an additional 905 shares during the period. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Bank of New York Mellon Trading Up 2.0%

Shares of BK stock opened at $121.33 on Friday. The Bank of New York Mellon Corporation has a fifty-two week low of $70.46 and a fifty-two week high of $125.89. The company has a 50 day moving average price of $116.93 and a 200 day moving average price of $109.21. The stock has a market capitalization of $84.61 billion, a P/E ratio of 16.37, a price-to-earnings-growth ratio of 1.11 and a beta of 1.11. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.70 and a current ratio of 0.71.

Bank of New York Mellon (NYSE:BK) last released its earnings results on Friday, October 31st. The bank reported $1.91 EPS for the quarter. Bank of New York Mellon had a net margin of 13.62% and a return on equity of 14.37%. The company had revenue of $5.07 billion during the quarter. Equities research analysts predict 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 announced a quarterly dividend, which will be paid on Thursday, February 5th. Shareholders of record on Friday, January 23rd will be given a dividend of $0.53 per share. The ex-dividend date is Friday, January 23rd. This represents a $2.12 annualized dividend and a yield of 1.7%. Bank of New York Mellon’s payout ratio is presently 28.61%.

Analysts Set New Price Targets

Several research firms have recently commented on BK. Morgan Stanley lifted their price target on shares of Bank of New York Mellon from $124.00 to $132.00 and gave the company an “overweight” rating in a research report on Wednesday, January 14th. Weiss Ratings raised Bank of New York Mellon from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Tuesday. Truist Financial upgraded Bank of New York Mellon from a “hold” rating to a “buy” rating and increased their price target for the stock from $119.00 to $134.00 in a report on Wednesday, January 7th. Royal Bank Of Canada boosted their price objective on shares of Bank of New York Mellon from $124.00 to $130.00 and gave the company a “sector perform” rating in a report on Wednesday, January 14th. Finally, Wells Fargo & Company increased their target price on shares of Bank of New York Mellon from $119.00 to $122.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 14th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Bank of New York Mellon presently has an average rating of “Moderate Buy” and a consensus target price of $131.92.

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.