Calamos Advisors LLC Sells 98,675 Shares of The Bank of New York Mellon Corporation $BK

Calamos Advisors LLC decreased its position in The Bank of New York Mellon Corporation (NYSE:BK) by 34.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 185,448 shares of the bank’s stock after selling 98,675 shares during the period. Calamos Advisors LLC’s holdings in Bank of New York Mellon were worth $16,896,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BK. Tiemann Investment Advisors LLC lifted its position in Bank of New York Mellon by 2.9% during the 2nd quarter. Tiemann Investment Advisors LLC now owns 3,492 shares of the bank’s stock valued at $318,000 after purchasing an additional 100 shares during the period. Hemington Wealth Management raised its stake in shares of Bank of New York Mellon by 6.3% during the second 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 last quarter. Vestmark Advisory Solutions Inc. raised its stake 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 worth $252,000 after buying an additional 107 shares during the last quarter. Confluence Wealth Services Inc. lifted its holdings 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 valued at $1,072,000 after buying an additional 111 shares during the period. Finally, Leonard Rickey Investment Advisors P.L.L.C. grew its holdings in Bank of New York Mellon by 2.2% during the 2nd quarter. Leonard Rickey Investment Advisors P.L.L.C. now owns 5,094 shares of the bank’s stock worth $464,000 after acquiring an additional 112 shares during the period. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently weighed in on BK. Citigroup increased their price target on Bank of New York Mellon from $92.00 to $105.00 and gave the company a “neutral” rating in a research note on Friday, September 5th. Truist Financial increased their target price on Bank of New York Mellon from $118.00 to $119.00 and gave the company a “hold” rating in a research note on Friday, October 17th. TD Cowen boosted their target price on Bank of New York Mellon from $130.00 to $133.00 and gave the stock a “buy” rating in a research report on Monday, October 20th. Weiss Ratings cut Bank of New York Mellon from a “buy (a-)” rating to a “buy (b)” rating in a research note on Friday, November 7th. Finally, Keefe, Bruyette & Woods upped their target price 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. Ten investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, Bank of New York Mellon presently has an average rating of “Moderate Buy” and an average price target of $111.29.

Bank of New York Mellon Price Performance

BK stock opened at $112.62 on Thursday. The stock has a market cap of $78.54 billion, a PE ratio of 16.25, a price-to-earnings-growth ratio of 0.98 and a beta of 1.13. The stock has a 50-day moving average price of $107.46 and a two-hundred day moving average price of $98.69. The Bank of New York Mellon Corporation has a 1 year low of $70.46 and a 1 year high of $113.74. The company has a current ratio of 0.70, a quick ratio of 0.72 and a debt-to-equity ratio of 0.83.

Bank of New York Mellon (NYSE:BK) last announced its earnings results on Tuesday, March 26th. The bank reported $1.30 EPS for the quarter. The business 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%. Equities analysts forecast 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 business also recently declared a quarterly dividend, which was paid on Friday, November 7th. Shareholders of record on Monday, October 27th were paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date was Monday, October 27th. Bank of New York Mellon’s dividend payout ratio (DPR) is currently 30.59%.

Bank of New York Mellon Company Profile

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.