The Bank of New York Mellon Corporation $BK is LSV Asset Management’s 3rd Largest Position

LSV Asset Management trimmed its position in The Bank of New York Mellon Corporation (NYSE:BK) by 9.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,669,038 shares of the bank’s stock after selling 590,063 shares during the period. Bank of New York Mellon makes up about 1.4% of LSV Asset Management’s holdings, making the stock its 3rd biggest position. LSV Asset Management owned approximately 0.81% of Bank of New York Mellon worth $617,698,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Valeo Financial Advisors LLC boosted its holdings in shares of Bank of New York Mellon by 1.3% in the third quarter. Valeo Financial Advisors LLC now owns 7,539 shares of the bank’s stock valued at $821,000 after acquiring an additional 94 shares in the last quarter. Ferguson Wellman Capital Management Inc. boosted its holdings in Bank of New York Mellon by 0.4% in the 3rd quarter. Ferguson Wellman Capital Management Inc. now owns 24,752 shares of the bank’s stock valued at $2,697,000 after purchasing an additional 96 shares in the last quarter. Leonard Rickey Investment Advisors P.L.L.C. increased its position in Bank of New York Mellon by 1.9% during the 3rd quarter. Leonard Rickey Investment Advisors P.L.L.C. now owns 5,192 shares of the bank’s stock worth $566,000 after purchasing an additional 98 shares during the period. Tiemann Investment Advisors LLC raised its stake in shares of Bank of New York Mellon by 2.9% during the 2nd quarter. Tiemann Investment Advisors LLC now owns 3,492 shares of the bank’s stock worth $318,000 after buying an additional 100 shares in the last quarter. Finally, Cary Street Partners Investment Advisory LLC raised its stake in shares of Bank of New York Mellon by 13.7% during the 2nd quarter. Cary Street Partners Investment Advisory LLC now owns 828 shares of the bank’s stock worth $75,000 after buying an additional 100 shares in the last quarter. 85.31% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Weiss Ratings raised Bank of New York Mellon from a “buy (b+)” rating to a “buy (a-)” rating in a report on Tuesday, January 27th. Citigroup raised their price objective 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. TD Cowen upped their target price on shares of Bank of New York Mellon from $133.00 to $145.00 and gave the stock a “buy” rating in a research report on Wednesday, January 7th. Morgan Stanley lifted their price target on shares of Bank of New York Mellon from $124.00 to $132.00 and gave the company an “overweight” rating in a research report on Wednesday, January 14th. Finally, Truist Financial raised Bank of New York Mellon from a “hold” rating to a “buy” rating and boosted their price target for the stock from $119.00 to $134.00 in a research note on Wednesday, January 7th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, Bank of New York Mellon presently has an average rating of “Moderate Buy” and a consensus price target of $131.92.

Bank of New York Mellon Stock Down 3.8%

BK stock opened at $121.67 on Thursday. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.71 and a quick ratio of 0.70. The company’s 50 day simple moving average is $119.07 and its 200-day simple moving average is $110.83. The Bank of New York Mellon Corporation has a 12 month low of $70.46 and a 12 month high of $128.76. The firm has a market capitalization of $84.85 billion, a PE ratio of 16.42, a P/E/G ratio of 1.18 and a beta of 1.10.

Bank of New York Mellon (NYSE:BK) last posted its earnings results on Friday, October 31st. The bank reported $1.91 earnings per share (EPS) for the quarter. The firm 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%. 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 5th. Investors of record on Friday, January 23rd were given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date was Friday, January 23rd. Bank of New York Mellon’s dividend payout ratio (DPR) is currently 28.61%.

About Bank of New York Mellon

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.