Mainstay Capital Management LLC ADV Sells 11,881 Shares of The Bank of New York Mellon Corporation $BK

Mainstay Capital Management LLC ADV trimmed its stake in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 49.5% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,123 shares of the bank’s stock after selling 11,881 shares during the period. Mainstay Capital Management LLC ADV’s holdings in Bank of New York Mellon were worth $1,321,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Valley Wealth Managers Inc. purchased a new stake in Bank of New York Mellon during the 3rd quarter valued at $33,000. Caldwell Trust Co purchased a new position in shares of Bank of New York Mellon in the 2nd quarter worth $36,000. Westside Investment Management Inc. boosted its stake in shares of Bank of New York Mellon by 44.1% in the 3rd quarter. Westside Investment Management Inc. now owns 415 shares of the bank’s stock worth $45,000 after buying 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% in the third quarter. Dunhill Financial LLC now owns 427 shares of the bank’s stock worth $47,000 after acquiring an additional 242 shares during the period. Finally, Community Bank N.A. increased its position in 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 valued at $48,000 after acquiring an additional 313 shares during the last quarter. Institutional investors own 85.31% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on BK. Truist Financial raised Bank of New York Mellon from a “hold” rating to a “buy” rating and increased their target price for the company from $119.00 to $134.00 in a report on Wednesday, January 7th. Wells Fargo & Company upped their price target on shares of Bank of New York Mellon from $119.00 to $122.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 14th. Weiss Ratings upgraded shares of Bank of New York Mellon from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Wednesday, March 11th. Royal Bank Of Canada raised their price objective 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, Barclays boosted their target price on shares of Bank of New York Mellon from $120.00 to $143.00 and gave the company an “overweight” rating in a research report on Monday, January 5th. One research 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. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $131.92.

Bank of New York Mellon Stock Performance

Shares of BK opened at $114.61 on Thursday. The business has a 50-day simple moving average of $119.32 and a two-hundred day simple moving average of $113.42. 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 52 week low of $70.46 and a 52 week high of $128.76. The stock has a market cap of $78.88 billion, a price-to-earnings ratio of 15.47, a PEG 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 earnings per share 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%. On average, analysts expect that The Bank of New York Mellon Corporation will post 6.96 EPS for the current year.

Bank of New York Mellon Dividend Announcement

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