Neo Ivy Capital Management Boosts Stock Position in The Bank of New York Mellon Corporation $BK

Neo Ivy Capital Management boosted its stake in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 27,430.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,506 shares of the bank’s stock after acquiring an additional 5,486 shares during the quarter. Neo Ivy Capital Management’s holdings in Bank of New York Mellon were worth $600,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Ramirez Asset Management Inc. increased its holdings in shares of Bank of New York Mellon by 143.9% in the third quarter. Ramirez Asset Management Inc. now owns 13,467 shares of the bank’s stock valued at $1,467,000 after purchasing an additional 7,945 shares during the period. Marietta Investment Partners LLC lifted its holdings in shares of Bank of New York Mellon by 9.8% during the third quarter. Marietta Investment Partners LLC now owns 32,683 shares of the bank’s stock worth $3,561,000 after purchasing an additional 2,914 shares during the period. Barclays PLC lifted its holdings in shares of Bank of New York Mellon by 1.4% during the third quarter. Barclays PLC now owns 2,372,430 shares of the bank’s stock worth $258,500,000 after purchasing an additional 31,643 shares during the period. Crossmark Global Holdings Inc. grew its position in Bank of New York Mellon by 15.6% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 139,637 shares of the bank’s stock valued at $15,215,000 after buying an additional 18,820 shares during the last quarter. Finally, KCM Investment Advisors LLC grew its position in Bank of New York Mellon by 4.2% in the 3rd quarter. KCM Investment Advisors LLC now owns 3,284 shares of the bank’s stock valued at $358,000 after buying an additional 132 shares during the last quarter. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BK has been the subject of a number of analyst reports. Keefe, Bruyette & Woods upped their price objective on shares of Bank of New York Mellon from $132.00 to $143.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 14th. New Street Research set a $143.00 target price on shares of Bank of New York Mellon in a report on Wednesday, January 14th. Weiss Ratings lowered shares of Bank of New York Mellon from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Friday, February 13th. Royal Bank Of Canada increased their price target on shares of Bank of New York Mellon from $124.00 to $130.00 and gave the stock a “sector perform” rating in a report on Wednesday, January 14th. Finally, Morgan Stanley raised their price objective 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. Eight analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $131.92.

Bank of New York Mellon Stock Performance

NYSE BK opened at $115.22 on Friday. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.81. The Bank of New York Mellon Corporation has a fifty-two week low of $70.46 and a fifty-two week high of $128.76. The business has a fifty day moving average of $119.69 and a 200-day moving average of $112.74. The stock has a market cap of $79.15 billion, a price-to-earnings ratio of 15.55, a price-to-earnings-growth ratio of 1.08 and a beta of 1.10.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings data 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%. As a group, analysts predict 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 was paid on Thursday, February 5th. Shareholders of record on Friday, January 23rd were issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date was Friday, January 23rd. Bank of New York Mellon’s dividend payout ratio 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.