Verdence Capital Advisors LLC Sells 4,146 Shares of The Bank of New York Mellon Corporation $BK

Verdence Capital Advisors LLC lessened its stake in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 17.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,388 shares of the bank’s stock after selling 4,146 shares during the quarter. Verdence Capital Advisors LLC’s holdings in Bank of New York Mellon were worth $2,086,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in BK. Vanguard Group Inc. raised its stake in Bank of New York Mellon by 0.7% during the 2nd quarter. Vanguard Group Inc. now owns 71,092,148 shares of the bank’s stock worth $6,477,206,000 after buying an additional 517,081 shares during the period. Geode Capital Management LLC grew its stake in Bank of New York Mellon by 4.3% in the second quarter. Geode Capital Management LLC now owns 18,898,373 shares of the bank’s stock valued at $1,717,074,000 after acquiring an additional 785,478 shares during the period. Artisan Partners Limited Partnership increased its holdings in shares of Bank of New York Mellon by 0.9% during the second quarter. Artisan Partners Limited Partnership now owns 15,803,214 shares of the bank’s stock valued at $1,439,831,000 after acquiring an additional 139,544 shares in the last quarter. Norges Bank acquired a new position in shares of Bank of New York Mellon during the second quarter worth approximately $1,081,847,000. Finally, Robeco Institutional Asset Management B.V. raised its position 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 purchasing an additional 577,621 shares during the period. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have commented on BK. Citigroup boosted their price target on shares of Bank of New York Mellon from $120.00 to $136.00 and gave the company a “neutral” rating in a research note on Wednesday, January 14th. Royal Bank Of Canada lifted their price objective on shares of 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. BMO Capital Markets initiated 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 target price for the company. The Goldman Sachs Group raised their price target on shares of Bank of New York Mellon from $106.00 to $120.00 and gave the company a “buy” rating in a research report on Monday, October 6th. Finally, Morgan Stanley boosted their price objective on Bank of New York Mellon from $124.00 to $132.00 and gave the stock an “overweight” rating in a report on Wednesday, January 14th. Eight analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $131.92.

Bank of New York Mellon Trading Down 0.6%

NYSE:BK opened at $120.60 on Wednesday. The Bank of New York Mellon Corporation has a 52 week low of $70.46 and a 52 week high of $125.89. The firm has a 50-day moving average price of $115.46 and a two-hundred day moving average price of $108.15. 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 $84.10 billion, a price-to-earnings ratio of 16.28, 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 quarterly earnings results on Friday, October 31st. The bank reported $1.91 EPS 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%. On average, equities 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 business 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 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Friday, January 23rd. Bank of New York Mellon’s dividend payout ratio (DPR) is 28.61%.

Bank of New York Mellon Company 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.