The Bank of New York Mellon Corporation $BK Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp lowered its holdings in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 2.6% in the third quarter, HoldingsChannel.com reports. The fund owned 316,498 shares of the bank’s stock after selling 8,409 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Bank of New York Mellon were worth $34,486,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of BK. Norges Bank purchased a new position in Bank of New York Mellon during the second quarter worth $1,081,847,000. Qube Research & Technologies Ltd acquired a new position in Bank of New York Mellon in the 2nd quarter valued at about $135,728,000. Geode Capital Management LLC raised its stake in Bank of New York Mellon by 4.3% in the 2nd quarter. Geode Capital Management LLC now owns 18,898,373 shares of the bank’s stock valued at $1,717,074,000 after purchasing an additional 785,478 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Bank of New York Mellon in the 2nd quarter valued at about $61,851,000. Finally, Robeco Institutional Asset Management B.V. grew its holdings in shares of Bank of New York Mellon by 36.4% during the third quarter. Robeco Institutional Asset Management B.V. now owns 2,166,052 shares of the bank’s stock worth $236,013,000 after buying an additional 577,621 shares in the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on BK. BMO Capital Markets assumed coverage on shares of Bank of New York Mellon in a research note on Friday, October 3rd. They set an “outperform” rating and a $125.00 price objective on the stock. Evercore ISI increased their price target on Bank of New York Mellon from $91.00 to $110.00 and gave the stock an “in-line” rating in a research note on Tuesday, September 30th. Truist Financial raised Bank of New York Mellon from a “hold” rating to a “buy” rating and lifted their price objective for the company from $119.00 to $134.00 in a research report on Wednesday, January 7th. Royal Bank Of Canada increased their target price on Bank of New York Mellon from $124.00 to $130.00 and gave the stock a “sector perform” rating in a research report on Wednesday, January 14th. Finally, Wells Fargo & Company raised their price target on Bank of New York Mellon from $119.00 to $122.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 14th. Eight research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $131.92.

Bank of New York Mellon Price Performance

BK stock opened at $117.71 on Monday. The company has a market cap of $82.09 billion, a PE ratio of 15.89, a price-to-earnings-growth ratio of 1.10 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 stock has a 50-day moving average price of $115.93 and a two-hundred day moving average price of $108.70. The Bank of New York Mellon Corporation has a 12-month low of $70.46 and a 12-month high of $125.89.

Bank of New York Mellon (NYSE:BK) last released 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 for 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, research analysts predict 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 firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 5th. Stockholders of record on Friday, January 23rd will be given a $0.53 dividend. The ex-dividend date of this dividend is Friday, January 23rd. This represents a $2.12 annualized dividend and a dividend yield of 1.8%. Bank of New York Mellon’s dividend payout ratio is presently 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.