The Bank of New York Mellon Corporation $BK Stock Position Raised by Captrust Financial Advisors

Captrust Financial Advisors increased its position in The Bank of New York Mellon Corporation (NYSE:BK) by 0.6% in the third quarter, HoldingsChannel reports. The firm owned 811,350 shares of the bank’s stock after acquiring an additional 4,973 shares during the period. Captrust Financial Advisors’ holdings in Bank of New York Mellon were worth $88,405,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Coldstream Capital Management Inc. raised its stake in Bank of New York Mellon by 27.0% during the 3rd quarter. Coldstream Capital Management Inc. now owns 23,877 shares of the bank’s stock valued at $2,602,000 after purchasing an additional 5,075 shares during the period. Danske Bank A S acquired a new stake in shares of Bank of New York Mellon in the third quarter worth $65,973,000. Advisory Services Network LLC boosted its position in shares of Bank of New York Mellon by 4.7% in the third quarter. Advisory Services Network LLC now owns 28,958 shares of the bank’s stock worth $3,155,000 after buying an additional 1,294 shares during the period. Dorsey Wright & Associates grew its holdings in shares of Bank of New York Mellon by 0.9% during the third quarter. Dorsey Wright & Associates now owns 87,688 shares of the bank’s stock valued at $9,555,000 after buying an additional 810 shares in the last quarter. Finally, OmniStar Financial Group Inc. grew its holdings in shares of Bank of New York Mellon by 20.4% during the third quarter. OmniStar Financial Group Inc. now owns 6,833 shares of the bank’s stock valued at $745,000 after buying an additional 1,159 shares in the last quarter. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Bank of New York Mellon Trading Down 1.3%

Shares of BK stock opened at $114.61 on Thursday. 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 cap of $78.88 billion, a PE ratio of 15.47, a price-to-earnings-growth ratio of 1.08 and a beta of 1.10. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.81. The business’s 50 day moving average is $119.32 and its two-hundred day moving average is $113.42.

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 for the quarter. The business had revenue of $5.07 billion during the quarter. Bank of New York Mellon had a net margin of 13.62% and a return on equity of 14.37%. Equities analysts predict that The Bank of New York Mellon Corporation will post 6.96 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, February 5th. Investors of record on Friday, January 23rd were issued a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 1.8%. The ex-dividend date was Friday, January 23rd. Bank of New York Mellon’s dividend payout ratio (DPR) is 28.61%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. TD Cowen increased their price objective 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. Truist Financial raised Bank of New York Mellon from a “hold” rating to a “buy” rating and lifted their target price for the company from $119.00 to $134.00 in a research note on Wednesday, January 7th. Morgan Stanley upped their target price on Bank of New York Mellon from $124.00 to $132.00 and gave the company an “overweight” rating in a report on Wednesday, January 14th. Citigroup initiated coverage on shares of Bank of New York Mellon in a research report on Monday, February 23rd. They issued a “neutral” rating for the company. Finally, Wells Fargo & Company boosted their price objective on shares of Bank of New York Mellon from $119.00 to $122.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 14th. 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, Bank of New York Mellon has an average rating of “Moderate Buy” and a consensus price target 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.