Commonwealth Retirement Investments LLC Has $1.03 Million Holdings in The Bank of New York Mellon Corporation $BK

Commonwealth Retirement Investments LLC lessened its position in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 4.4% in the second quarter, HoldingsChannel.com reports. The firm owned 11,337 shares of the bank’s stock after selling 526 shares during the quarter. Commonwealth Retirement Investments LLC’s holdings in Bank of New York Mellon were worth $1,033,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in BK. Revolve Wealth Partners LLC acquired a new stake in Bank of New York Mellon during the 4th quarter valued at approximately $220,000. Mutual Advisors LLC increased its position in Bank of New York Mellon by 5.3% during the 1st quarter. Mutual Advisors LLC now owns 4,900 shares of the bank’s stock valued at $385,000 after purchasing an additional 246 shares during the period. D.A. Davidson & CO. increased its position in Bank of New York Mellon by 11.9% during the 1st quarter. D.A. Davidson & CO. now owns 8,194 shares of the bank’s stock valued at $687,000 after purchasing an additional 873 shares during the period. Strategic Blueprint LLC acquired a new stake in Bank of New York Mellon during the 1st quarter valued at approximately $233,000. Finally, Penserra Capital Management LLC boosted its holdings in shares of Bank of New York Mellon by 141.0% during the 1st quarter. Penserra Capital Management LLC now owns 12,655 shares of the bank’s stock worth $1,060,000 after buying an additional 7,403 shares in the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Bank of New York Mellon Price Performance

Shares of BK opened at $108.02 on Wednesday. The Bank of New York Mellon Corporation has a 12-month low of $70.46 and a 12-month high of $110.87. The business’s fifty day moving average is $106.86 and its 200 day moving average is $97.44. The company has a quick ratio of 0.72, a current ratio of 0.70 and a debt-to-equity ratio of 0.83. The stock has a market cap of $76.18 billion, a P/E ratio of 15.59, a P/E/G ratio of 0.98 and a beta of 1.13.

Bank of New York Mellon (NYSE:BK) last issued its earnings results on Tuesday, March 26th. The bank reported $1.30 earnings per share (EPS) for the quarter. Bank of New York Mellon had a return on equity of 14.03% and a net margin of 12.86%.The company had revenue of $4.38 billion for the quarter. Sell-side analysts anticipate 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 announced a quarterly dividend, which will be paid on Friday, November 7th. Investors of record on Monday, October 27th will be issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Monday, October 27th. Bank of New York Mellon’s dividend payout ratio (DPR) is currently 30.59%.

Wall Street Analysts Forecast Growth

BK has been the topic of a number of research analyst reports. The Goldman Sachs Group increased their price target on Bank of New York Mellon from $106.00 to $120.00 and gave the stock a “buy” rating in a report on Monday, October 6th. Citigroup increased their price target on Bank of New York Mellon from $92.00 to $105.00 and gave the stock a “neutral” rating in a report on Friday, September 5th. Weiss Ratings upgraded Bank of New York Mellon from a “buy (b+)” rating to a “buy (a-)” rating in a report on Friday, October 24th. Morgan Stanley increased their price target on Bank of New York Mellon from $101.00 to $116.00 and gave the stock an “overweight” rating in a report on Monday, September 29th. Finally, Barclays increased their price target on Bank of New York Mellon from $104.00 to $120.00 and gave the stock an “overweight” rating in a report on Friday, October 17th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $111.29.

Bank of New York Mellon Company Profile

The Bank of New York Mellon Corporation provides a range of financial products and services in the United States and internationally. The company operates through Securities Services, Market and Wealth Services, Investment and Wealth Management, and other segments. The Securities Services segment offers custody, trust and depositary, accounting, exchange-traded funds, middle-office solutions, transfer agency, services for private equity and real estate funds, foreign exchange, securities lending, liquidity/lending services, and data analytics.