CSM Advisors LLC Decreases Stock Position in The Bank of New York Mellon Corporation $BK

CSM Advisors LLC cut its position in The Bank of New York Mellon Corporation (NYSE:BK) by 22.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 330,650 shares of the bank’s stock after selling 94,365 shares during the period. Bank of New York Mellon accounts for 1.0% of CSM Advisors LLC’s holdings, making the stock its 20th largest position. CSM Advisors LLC’s holdings in Bank of New York Mellon were worth $36,028,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the company. Valley Wealth Managers Inc. acquired a new position in Bank of New York Mellon in the 3rd quarter valued at $33,000. Caldwell Trust Co acquired a new stake in Bank of New York Mellon during the 2nd quarter worth $36,000. Westside Investment Management Inc. boosted its stake in Bank of New York Mellon by 44.1% during the 3rd quarter. Westside Investment Management Inc. now owns 415 shares of the bank’s stock worth $45,000 after purchasing an additional 127 shares during the last quarter. Dunhill Financial LLC grew its holdings in shares of Bank of New York Mellon by 130.8% during the third quarter. Dunhill Financial LLC now owns 427 shares of the bank’s stock worth $47,000 after buying an additional 242 shares in the last quarter. Finally, Community Bank N.A. grew its holdings in shares of Bank of New York Mellon by 250.4% during the third quarter. Community Bank N.A. now owns 438 shares of the bank’s stock worth $48,000 after buying an additional 313 shares in the last quarter. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. New Street Research set a $143.00 price target on shares of Bank of New York Mellon in a research note on Wednesday, January 14th. Weiss Ratings raised shares of Bank of New York Mellon from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Wednesday. TD Cowen increased their price objective on shares of Bank of New York Mellon from $133.00 to $145.00 and gave the company a “buy” rating in a report on Wednesday, January 7th. Morgan Stanley raised their target price on shares of Bank of New York Mellon from $124.00 to $132.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 14th. Finally, Citigroup started coverage on Bank of New York Mellon in a report on Monday, February 23rd. They set a “neutral” rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $131.92.

Bank of New York Mellon Trading Down 0.8%

Shares of BK opened at $116.18 on Friday. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.81. 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 50-day moving average price of $119.65 and a 200 day moving average price of $113.22. The firm has a market capitalization of $79.96 billion, a P/E ratio of 15.68, a P/E/G ratio of 1.08 and a beta of 1.10.

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

Bank of New York Mellon Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 5th. Stockholders of record on Friday, January 23rd were given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend was Friday, January 23rd. Bank of New York Mellon’s payout ratio is presently 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.