Knights of Columbus Asset Advisors LLC Acquires 21,742 Shares of The Bank of New York Mellon Corporation $BK

Knights of Columbus Asset Advisors LLC grew its stake in The Bank of New York Mellon Corporation (NYSE:BK) by 28.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 98,373 shares of the bank’s stock after purchasing an additional 21,742 shares during the period. Knights of Columbus Asset Advisors LLC’s holdings in Bank of New York Mellon were worth $10,719,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Revolve Wealth Partners LLC bought a new position in shares of Bank of New York Mellon in the 4th quarter valued at $220,000. Sivia Capital Partners LLC raised its holdings in Bank of New York Mellon by 36.6% in the 2nd quarter. Sivia Capital Partners LLC now owns 3,394 shares of the bank’s stock valued at $309,000 after buying an additional 909 shares during the last quarter. GC Wealth Management RIA LLC bought a new stake in Bank of New York Mellon during the 2nd quarter worth approximately $342,000. Janney Montgomery Scott LLC raised its stake in shares of Bank of New York Mellon by 2.3% during the second quarter. Janney Montgomery Scott LLC now owns 133,089 shares of the bank’s stock valued at $12,126,000 after acquiring an additional 2,965 shares during the last quarter. Finally, HB Wealth Management LLC grew its position in shares of Bank of New York Mellon by 7.4% in the 2nd quarter. HB Wealth Management LLC now owns 32,050 shares of the bank’s stock valued at $2,920,000 after buying an additional 2,201 shares during the last quarter. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Bank of New York Mellon Trading Up 2.0%

Shares of BK stock opened at $121.33 on Friday. The Bank of New York Mellon Corporation has a 52-week low of $70.46 and a 52-week high of $125.89. The company has a 50-day simple moving average of $116.93 and a two-hundred day simple moving average of $109.21. The company has a market capitalization of $84.61 billion, a price-to-earnings ratio of 16.37, a PEG ratio of 1.11 and a beta of 1.11. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.70 and a current ratio of 0.71.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings results on Friday, October 31st. The bank reported $1.91 earnings per share (EPS) for the quarter. Bank of New York Mellon had a net margin of 13.62% and a return on equity of 14.37%. The company had revenue of $5.07 billion during the quarter. Research analysts anticipate that The Bank of New York Mellon Corporation will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 5th. Stockholders of record on Friday, January 23rd will be paid a dividend of $0.53 per share. The ex-dividend date is Friday, January 23rd. This represents a $2.12 annualized dividend and a dividend yield of 1.7%. Bank of New York Mellon’s dividend payout ratio is presently 28.61%.

Analysts Set New Price Targets

BK has been the subject of several research analyst reports. The Goldman Sachs Group lifted their price objective on shares of Bank of New York Mellon from $106.00 to $120.00 and gave the company a “buy” rating in a research note on Monday, October 6th. Weiss Ratings upgraded Bank of New York Mellon from a “buy (b+)” rating to a “buy (a-)” rating in a report on Tuesday. Barclays boosted their price objective on Bank of New York Mellon from $120.00 to $143.00 and gave the company an “overweight” rating in a report on Monday, January 5th. TD Cowen increased their target price on Bank of New York Mellon from $133.00 to $145.00 and gave the stock a “buy” rating in a report on Wednesday, January 7th. Finally, 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. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $131.92.

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.