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

CSM Advisors LLC lifted its position in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 1,077.9% in the second quarter, HoldingsChannel.com reports. The firm owned 425,015 shares of the bank’s stock after purchasing an additional 388,932 shares during the period. Bank of New York Mellon comprises 1.1% of CSM Advisors LLC’s investment portfolio, making the stock its 12th largest position. CSM Advisors LLC’s holdings in Bank of New York Mellon were worth $38,724,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of BK. Hemington Wealth Management lifted its holdings in Bank of New York Mellon by 6.3% in the 2nd quarter. Hemington Wealth Management now owns 1,730 shares of the bank’s stock worth $157,000 after buying an additional 102 shares during the period. Vestmark Advisory Solutions Inc. raised its holdings in shares of Bank of New York Mellon by 4.0% during the second quarter. Vestmark Advisory Solutions Inc. now owns 2,771 shares of the bank’s stock valued at $252,000 after acquiring an additional 107 shares in the last quarter. Confluence Wealth Services Inc. lifted its stake in Bank of New York Mellon by 1.0% in the second quarter. Confluence Wealth Services Inc. now owns 11,761 shares of the bank’s stock worth $1,072,000 after acquiring an additional 111 shares during the period. Leonard Rickey Investment Advisors P.L.L.C. boosted its holdings in Bank of New York Mellon by 2.2% in the second quarter. Leonard Rickey Investment Advisors P.L.L.C. now owns 5,094 shares of the bank’s stock valued at $464,000 after acquiring an additional 112 shares in the last quarter. Finally, Sax Wealth Advisors LLC increased its position in Bank of New York Mellon by 2.3% during the 1st quarter. Sax Wealth Advisors LLC now owns 5,278 shares of the bank’s stock valued at $443,000 after purchasing an additional 117 shares during the period. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. TD Cowen boosted their price target on shares of Bank of New York Mellon from $130.00 to $133.00 and gave the company a “buy” rating in a research report on Monday, October 20th. Wells Fargo & Company increased their target price on Bank of New York Mellon from $100.00 to $109.00 and gave the stock an “equal weight” rating in a research report on Friday, October 17th. The Goldman Sachs Group lifted their price target on Bank of New York Mellon from $106.00 to $120.00 and gave the company a “buy” rating in a research report on Monday, October 6th. Morgan Stanley increased their price objective on Bank of New York Mellon from $101.00 to $116.00 and gave the stock an “overweight” rating in a report on Monday, September 29th. Finally, Citigroup boosted their target price on shares of Bank of New York Mellon from $92.00 to $105.00 and gave the company a “neutral” rating in a report on Friday, September 5th. Ten analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $111.29.

Bank of New York Mellon Trading Up 1.1%

Shares of NYSE BK opened at $109.66 on Friday. The firm’s 50 day moving average price is $107.06 and its 200-day moving average price is $97.99. The company has a market cap of $76.47 billion, a PE ratio of 15.82, a P/E/G ratio of 0.98 and a beta of 1.13. The Bank of New York Mellon Corporation has a 52-week low of $70.46 and a 52-week high of $110.87. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.72 and a current ratio of 0.70.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings results on Tuesday, March 26th. The bank reported $1.30 earnings per share for the quarter. The company had revenue of $4.38 billion during the quarter. Bank of New York Mellon had a net margin of 12.86% and a return on equity of 14.03%. On average, equities research analysts expect that The Bank of New York Mellon Corporation will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 7th. Stockholders of record on Monday, October 27th were issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend was Monday, October 27th. Bank of New York Mellon’s dividend payout ratio is presently 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.