UMB Bank n.a. Sells 4,337 Shares of The Bank of New York Mellon Corporation $BK

UMB Bank n.a. decreased its holdings in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 3.2% in the third quarter, Holdings Channel.com reports. The firm owned 131,469 shares of the bank’s stock after selling 4,337 shares during the period. UMB Bank n.a.’s holdings in Bank of New York Mellon were worth $14,325,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Westside Investment Management Inc. lifted its holdings in Bank of New York Mellon by 78.9% during 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 in the last quarter. Valley Wealth Managers Inc. purchased a new position in Bank of New York Mellon during the third quarter worth $33,000. GFG Capital LLC purchased a new stake in Bank of New York Mellon in the 2nd quarter worth about $36,000. Caldwell Trust Co bought a new stake in shares of Bank of New York Mellon during the second quarter worth $36,000. Finally, Princeton Global Asset Management LLC grew its stake in 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 worth $41,000 after acquiring an additional 210 shares in the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Price Performance

Shares of NYSE:BK opened at $119.84 on Friday. The firm has a market capitalization of $83.57 billion, a P/E ratio of 16.17, a PEG ratio of 1.13 and a beta of 1.11. The company has a current ratio of 0.71, a quick ratio of 0.70 and a debt-to-equity ratio of 0.81. The firm’s 50 day moving average is $117.20 and its two-hundred day moving average is $109.48. The Bank of New York Mellon Corporation has a 52 week low of $70.46 and a 52 week high of $125.89.

Bank of New York Mellon (NYSE:BK) last released its earnings results on Friday, October 31st. The bank reported $1.91 earnings per share for the quarter. The business 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%. Analysts anticipate that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 5th. Investors of record on Friday, January 23rd will be issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Friday, January 23rd. Bank of New York Mellon’s dividend payout ratio (DPR) is currently 28.61%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on BK. Citigroup boosted their price target on Bank of New York Mellon from $120.00 to $136.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 14th. Truist Financial upgraded Bank of New York Mellon from a “hold” rating to a “buy” rating and upped their target price for the stock from $119.00 to $134.00 in a research note on Wednesday, January 7th. Morgan Stanley increased their price target on Bank of New York Mellon from $124.00 to $132.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 14th. The Goldman Sachs Group increased their target price 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. Finally, Royal Bank Of Canada upped their price target on Bank of New York Mellon from $124.00 to $130.00 and gave the company a “sector perform” rating in a research report on Wednesday, January 14th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $131.92.

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.