The Bank of New York Mellon Corporation $BK Shares Sold by Stephens Inc. AR

Stephens Inc. AR lessened its position in The Bank of New York Mellon Corporation (NYSE:BK) by 48.1% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 13,902 shares of the bank’s stock after selling 12,889 shares during the period. Stephens Inc. AR’s holdings in Bank of New York Mellon were worth $1,515,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Investment Management Corp of Ontario increased its holdings in shares of 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 valued at $11,435,000 after purchasing an additional 25,842 shares during the period. Permanent Capital Management LP purchased a new position in Bank of New York Mellon during the third quarter valued at approximately $2,262,000. Robeco Institutional Asset Management B.V. increased its stake in 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 buying an additional 577,621 shares during the period. First Horizon Corp purchased a new stake in Bank of New York Mellon in the 3rd quarter worth approximately $22,072,000. Finally, Highland Capital Management LLC purchased a new stake in Bank of New York Mellon in the 3rd quarter worth approximately $1,639,000. Institutional investors own 85.31% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Morgan Stanley upped their price target on shares of Bank of New York Mellon from $124.00 to $132.00 and gave the stock an “overweight” rating in a research note on Wednesday. Truist Financial raised 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 report on Wednesday, January 7th. Weiss Ratings reaffirmed a “buy (b+)” rating on shares of Bank of New York Mellon in a research note on Monday, December 29th. Citigroup boosted their price target on Bank of New York Mellon from $120.00 to $136.00 and gave the company a “neutral” rating in a research note on Wednesday. Finally, Royal Bank Of Canada increased their price objective on Bank of New York Mellon from $124.00 to $130.00 and gave the stock a “sector perform” rating in a report on Wednesday. Nine analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Bank of New York Mellon has an average rating of “Moderate Buy” and a consensus target price of $129.00.

Bank of New York Mellon Stock Performance

Shares of NYSE BK opened at $121.34 on Friday. 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 firm has a market cap of $84.62 billion, a price-to-earnings ratio of 16.38, a P/E/G ratio of 1.13 and a beta of 1.11. The business’s 50-day simple moving average is $115.07 and its 200-day simple moving average is $107.63. 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 posted its earnings results on Friday, October 31st. The bank reported $1.91 earnings per share for the quarter. The firm had revenue of $5.07 billion during the quarter. Bank of New York Mellon had a return on equity of 14.37% and a net margin of 13.62%. As a group, equities research analysts expect that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The company also recently disclosed 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 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, January 23rd. Bank of New York Mellon’s dividend payout ratio is currently 28.61%.

Bank of New York Mellon 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.