The Bank of New York Mellon Corporation $BK Stock Holdings Trimmed by Spinnaker Trust

Spinnaker Trust reduced its position in The Bank of New York Mellon Corporation (NYSE:BK) by 20.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,101 shares of the bank’s stock after selling 779 shares during the quarter. Spinnaker Trust’s holdings in Bank of New York Mellon were worth $283,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Revolve Wealth Partners LLC bought a new position in shares of Bank of New York Mellon during the fourth quarter valued at approximately $220,000. Golden State Wealth Management LLC grew its holdings in shares of Bank of New York Mellon by 226.4% during the first quarter. Golden State Wealth Management LLC now owns 408 shares of the bank’s stock valued at $34,000 after purchasing an additional 283 shares during the last quarter. Koshinski Asset Management Inc. bought a new position in shares of Bank of New York Mellon during the first quarter valued at approximately $209,000. Vontobel Holding Ltd. grew its holdings in shares of Bank of New York Mellon by 135.8% during the first quarter. Vontobel Holding Ltd. now owns 48,486 shares of the bank’s stock valued at $4,067,000 after purchasing an additional 27,921 shares during the last quarter. Finally, Aaron Wealth Advisors LLC grew its holdings in shares of Bank of New York Mellon by 5.9% during the first quarter. Aaron Wealth Advisors LLC now owns 9,209 shares of the bank’s stock valued at $772,000 after purchasing an additional 515 shares during the last quarter. 85.31% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on BK. Weiss Ratings raised Bank of New York Mellon from a “buy (b+)” rating to a “buy (a-)” rating in a report on Friday, October 24th. Truist Financial upped their target price on Bank of New York Mellon from $118.00 to $119.00 and gave the company a “hold” rating in a report on Friday, October 17th. Keefe, Bruyette & Woods raised their price target on shares of Bank of New York Mellon from $120.00 to $124.00 and gave the company an “outperform” rating in a research note on Friday, October 17th. Wells Fargo & Company raised their price target on shares of Bank of New York Mellon from $100.00 to $109.00 and gave the company an “equal weight” rating in a research note on Friday, October 17th. Finally, Morgan Stanley boosted their price objective on Bank of New York Mellon from $101.00 to $116.00 and gave the stock an “overweight” rating in a research report on Monday, September 29th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $111.29.

Bank of New York Mellon Stock Performance

Shares of NYSE BK opened at $107.85 on Friday. The company has a current ratio of 0.70, a quick ratio of 0.72 and a debt-to-equity ratio of 0.83. The stock has a 50 day simple moving average of $106.58 and a 200-day simple moving average of $96.50. The company has a market cap of $76.06 billion, a PE ratio of 15.56, a P/E/G ratio of 0.98 and a beta of 1.13. The Bank of New York Mellon Corporation has a 12-month low of $70.46 and a 12-month high of $110.87.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings data on Tuesday, March 26th. The bank reported $1.30 earnings per share (EPS) for the quarter. The business had revenue of $4.38 billion during the quarter. Bank of New York Mellon had a return on equity of 14.03% and a net margin of 12.86%. On average, equities research analysts forecast 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 announced a quarterly dividend, which will be paid on Friday, November 7th. Shareholders of record on Monday, October 27th will be given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Monday, October 27th. Bank of New York Mellon’s dividend payout ratio is 30.59%.

About Bank of New York Mellon

The Bank of New York Mellon Corporation provides a range of financial products and services in the United States and internationally. The company operates through Securities Services, Market and Wealth Services, Investment and Wealth Management, and other segments. The Securities Services segment offers custody, trust and depositary, accounting, exchange-traded funds, middle-office solutions, transfer agency, services for private equity and real estate funds, foreign exchange, securities lending, liquidity/lending services, and data analytics.