Thrivent Financial for Lutherans Increases Stock Position in The Bank of New York Mellon Corporation $BK

Thrivent Financial for Lutherans boosted its stake in The Bank of New York Mellon Corporation (NYSE:BK) by 7.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,121,921 shares of the bank’s stock after purchasing an additional 78,237 shares during the period. Thrivent Financial for Lutherans’ holdings in Bank of New York Mellon were worth $122,244,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of BK. Investment Management Corp of Ontario lifted its stake in Bank of New York Mellon by 25.9% in the 2nd quarter. Investment Management Corp of Ontario now owns 125,506 shares of the bank’s stock worth $11,435,000 after purchasing an additional 25,842 shares in the last quarter. First National Advisers LLC purchased a new position in shares of Bank of New York Mellon in the 3rd quarter worth approximately $3,304,000. Permanent Capital Management LP purchased a new stake in Bank of New York Mellon during the 3rd quarter worth approximately $2,262,000. First Horizon Corp acquired a new stake in Bank of New York Mellon during the 3rd quarter valued at approximately $22,072,000. Finally, Robeco Institutional Asset Management B.V. lifted its stake 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 valued at $236,013,000 after purchasing an additional 577,621 shares during the period. Institutional investors own 85.31% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on BK shares. Barclays lifted their target price on shares of Bank of New York Mellon from $120.00 to $143.00 and gave the stock an “overweight” rating in a research note on Monday, January 5th. Royal Bank Of Canada boosted their target price on 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. The Goldman Sachs Group lifted their price objective 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. TD Cowen raised their price target on Bank of New York Mellon from $133.00 to $145.00 and gave the stock a “buy” rating in a research report on Wednesday, January 7th. Finally, Wells Fargo & Company boosted their target price on Bank of New York Mellon from $119.00 to $122.00 and gave the stock an “equal weight” rating in a 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 given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $131.92.

Bank of New York Mellon Price Performance

Shares of NYSE:BK opened at $119.84 on Friday. The stock has a fifty day moving average of $117.20 and a 200-day moving average of $109.48. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.70 and a current ratio of 0.71. The Bank of New York Mellon Corporation has a one year low of $70.46 and a one year high of $125.89. The company has a market capitalization of $83.57 billion, a PE ratio of 16.17, a price-to-earnings-growth ratio of 1.13 and a beta of 1.11.

Bank of New York Mellon (NYSE:BK) last issued its earnings results on Friday, October 31st. The bank reported $1.91 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 firm had revenue of $5.07 billion for the quarter. As a group, equities analysts anticipate 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 business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 5th. Investors of record on Friday, January 23rd will be given a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 1.8%. The ex-dividend date is Friday, January 23rd. Bank of New York Mellon’s payout ratio is 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.