SVB Wealth LLC Sells 13,722 Shares of The Bank of New York Mellon Corporation $BK

SVB Wealth LLC reduced its stake in The Bank of New York Mellon Corporation (NYSE:BK) by 38.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,140 shares of the bank’s stock after selling 13,722 shares during the period. SVB Wealth LLC’s holdings in Bank of New York Mellon were worth $2,017,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Westside Investment Management Inc. grew its position in shares of Bank of New York Mellon by 78.9% during the 2nd quarter. Westside Investment Management Inc. now owns 288 shares of the bank’s stock worth $26,000 after purchasing an additional 127 shares in the last quarter. Orion Capital Management LLC bought a new stake in shares of Bank of New York Mellon in the first quarter valued at approximately $32,000. Hoey Investments Inc. acquired a new stake in Bank of New York Mellon during the second quarter worth approximately $32,000. GFG Capital LLC bought a new position in Bank of New York Mellon during the 2nd quarter worth $36,000. Finally, Wealth Preservation Advisors LLC bought a new position in Bank of New York Mellon during the 1st quarter worth $39,000. Institutional investors own 85.31% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Morgan Stanley increased their target price 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. Evercore ISI increased their price objective on shares of 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. Barclays upped their price target on shares of 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. BMO Capital Markets assumed coverage on shares of Bank of New York Mellon in a research report on Friday, October 3rd. They set an “outperform” rating and a $125.00 price target on the stock. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Bank of New York Mellon from $120.00 to $124.00 and gave the company an “outperform” rating in a research report on Friday, October 17th. Ten analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Bank of New York Mellon presently has a consensus rating of “Moderate Buy” and a consensus target price of $111.29.

Bank of New York Mellon Price Performance

Shares of BK opened at $114.27 on Tuesday. The business has a 50-day simple moving average of $108.72 and a two-hundred day simple moving average of $101.95. The Bank of New York Mellon Corporation has a 12-month low of $70.46 and a 12-month high of $114.99. The stock has a market cap of $79.68 billion, a PE ratio of 16.49, a PEG ratio of 1.03 and a beta of 1.12. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.83.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings data 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 during the quarter. 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 firm also recently declared a quarterly dividend, which was paid on Friday, November 7th. Stockholders of record on Monday, October 27th were issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date was Monday, October 27th. Bank of New York Mellon’s payout ratio is 30.59%.

About Bank of New York Mellon

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.