Caprock Group LLC Purchases Shares of 54,050 The Bank of New York Mellon Corporation $BK

Caprock Group LLC purchased a new position in shares of The Bank of New York Mellon Corporation (NYSE:BK) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 54,050 shares of the bank’s stock, valued at approximately $5,708,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Ashton Thomas Private Wealth LLC raised its position in Bank of New York Mellon by 133.2% during the third quarter. Ashton Thomas Private Wealth LLC now owns 91,762 shares of the bank’s stock valued at $9,998,000 after purchasing an additional 52,412 shares in the last quarter. Jones Financial Companies Lllp increased its stake in shares of Bank of New York Mellon by 35.1% in the 3rd quarter. Jones Financial Companies Lllp now owns 31,848 shares of the bank’s stock valued at $3,487,000 after purchasing an additional 8,277 shares during the last quarter. Investment Management Corp of Ontario raised its holdings in shares of Bank of New York Mellon by 25.9% during the 2nd quarter. Investment Management Corp of Ontario now owns 125,506 shares of the bank’s stock worth $11,435,000 after buying an additional 25,842 shares in the last quarter. First National Advisers LLC bought a new stake in shares of Bank of New York Mellon during the 3rd quarter worth $3,304,000. Finally, First Horizon Corp acquired a new stake in Bank of New York Mellon in the third quarter valued at about $22,072,000. Institutional investors own 85.31% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. TD Cowen boosted their target price on Bank of New York Mellon from $133.00 to $145.00 and gave the stock a “buy” rating in a research note on Wednesday, January 7th. Keefe, Bruyette & Woods lifted their price target on shares of Bank of New York Mellon from $132.00 to $143.00 and gave the company an “outperform” rating in a report on Wednesday, January 14th. Truist Financial raised shares of Bank of New York Mellon from a “hold” rating to a “buy” rating and increased their price objective for the company from $119.00 to $134.00 in a research note on Wednesday, January 7th. Weiss Ratings raised shares of Bank of New York Mellon from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Tuesday, January 27th. Finally, Barclays upped their price target on shares of Bank of New York Mellon from $120.00 to $143.00 and gave the stock an “overweight” rating in a report on Monday, January 5th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $131.92.

Bank of New York Mellon Stock Down 3.8%

Shares of BK opened at $121.67 on Thursday. The stock’s 50-day moving average price is $119.07 and its two-hundred day moving average price is $110.83. The Bank of New York Mellon Corporation has a 12 month low of $70.46 and a 12 month high of $128.76. The company has a market capitalization of $84.85 billion, a PE ratio of 16.42, a PEG ratio of 1.18 and a beta of 1.10. The company has a current ratio of 0.71, a quick ratio of 0.70 and a debt-to-equity ratio of 0.81.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings data on Friday, October 31st. The bank reported $1.91 earnings per share (EPS) for the quarter. Bank of New York Mellon had a return on equity of 14.37% and a net margin of 13.62%.The company had revenue of $5.07 billion during the quarter. On average, analysts anticipate that The Bank of New York Mellon Corporation will post 6.96 EPS for the current year.

Bank of New York Mellon Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 5th. Stockholders of record on Friday, January 23rd were paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend was Friday, January 23rd. Bank of New York Mellon’s dividend payout ratio is currently 28.61%.

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.