The Bank of New York Mellon Corporation $BK Shares Sold by Forsta AP Fonden

Forsta AP Fonden trimmed its position in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 3.2% in the 2nd quarter, Holdings Channel reports. The firm owned 238,500 shares of the bank’s stock after selling 8,000 shares during the period. Forsta AP Fonden’s holdings in Bank of New York Mellon were worth $21,730,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BK. Tiemann Investment Advisors LLC grew its holdings in shares of Bank of New York Mellon by 2.9% during the second quarter. Tiemann Investment Advisors LLC now owns 3,492 shares of the bank’s stock worth $318,000 after buying an additional 100 shares in the last quarter. Hemington Wealth Management boosted its position in 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 acquiring an additional 102 shares during the last quarter. Vestmark Advisory Solutions Inc. grew its stake in Bank of New York Mellon by 4.0% during the 2nd 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. raised its holdings in Bank of New York Mellon by 1.0% in the 2nd quarter. Confluence Wealth Services Inc. now owns 11,761 shares of the bank’s stock valued at $1,072,000 after acquiring an additional 111 shares during the last quarter. Finally, Leonard Rickey Investment Advisors P.L.L.C. lifted its stake in Bank of New York Mellon by 2.2% in 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 purchasing an additional 112 shares in the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Price Performance

Bank of New York Mellon stock opened at $112.62 on Thursday. The company’s 50 day simple moving average is $107.46 and its 200-day simple moving average is $98.69. The company has a market capitalization of $78.54 billion, a price-to-earnings ratio of 16.25, a price-to-earnings-growth ratio of 0.98 and a beta of 1.13. 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 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 posted its quarterly earnings data on Tuesday, March 26th. The bank reported $1.30 earnings per share for the quarter. The firm 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%. As a group, equities research analysts expect that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 7th. Stockholders of record on Monday, October 27th were paid a $0.53 dividend. The ex-dividend date of this dividend was Monday, October 27th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.9%. Bank of New York Mellon’s payout ratio is presently 30.59%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Truist Financial upped their price target on Bank of New York Mellon from $118.00 to $119.00 and gave the company a “hold” rating in a research report on Friday, October 17th. Wells Fargo & Company upped their target price on Bank of New York Mellon from $100.00 to $109.00 and gave the company an “equal weight” rating in a report on Friday, October 17th. BMO Capital Markets began coverage on Bank of New York Mellon in a report on Friday, October 3rd. They set an “outperform” rating and a $125.00 price target on the stock. Citigroup upped their price objective 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. Finally, Barclays raised their price objective on shares of Bank of New York Mellon from $104.00 to $120.00 and gave the stock an “overweight” rating in a research report 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. Based on data from MarketBeat.com, Bank of New York Mellon has a consensus rating of “Moderate Buy” and a consensus price target of $111.29.

Bank of New York Mellon 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.