Motco Trims Stake in The Bank of New York Mellon Corporation $BK

by · The Cerbat Gem

Motco cut its stake in The Bank of New York Mellon Corporation (NYSE:BK – Free Report) by 2.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 73,101 shares of the bank’s stock after selling 1,900 shares during the period. Motco’s holdings in Bank of New York Mellon were worth $6,660,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BK. Revolve Wealth Partners LLC purchased a new position in Bank of New York Mellon in the fourth quarter worth $220,000. Golden State Wealth Management LLC grew its position in Bank of New York Mellon by 226.4% in the first quarter. Golden State Wealth Management LLC now owns 408 shares of the bank’s stock worth $34,000 after acquiring an additional 283 shares in the last quarter. Koshinski Asset Management Inc. purchased a new position in Bank of New York Mellon in the first quarter worth $209,000. Barnes Dennig Private Wealth Management LLC purchased a new position in Bank of New York Mellon in the first quarter worth $5,118,000. Finally, Smallwood Wealth Investment Management LLC purchased a new position in Bank of New York Mellon in the first quarter worth $62,000. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BK has been the subject of several research reports. BMO Capital Markets assumed coverage on shares of Bank of New York Mellon in a research report on Friday, October 3rd. They issued an “outperform” rating and a $125.00 target price for the company. Weiss Ratings raised shares of Bank of New York Mellon from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Friday, October 24th. Wells Fargo & Company boosted their price target on shares of Bank of New York Mellon from $100.00 to $109.00 and gave the stock an “equal weight” rating in a research note on Friday, October 17th. Truist Financial boosted their price target on shares of Bank of New York Mellon from $118.00 to $119.00 and gave the stock a “hold” rating in a research note on Friday, October 17th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Bank of New York Mellon from $120.00 to $124.00 and gave the stock an “outperform” rating in a research note on Friday, October 17th. 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 stock. Based on data from MarketBeat.com, Bank of New York Mellon currently has a consensus rating of “Moderate Buy” and an average price target of $111.29.

Check Out Our Latest Research Report on BK

Bank of New York Mellon Stock Performance

Shares of NYSE:BK opened at $108.59 on Wednesday. The company has a market cap of $76.58 billion, a price-to-earnings ratio of 15.67, a price-to-earnings-growth ratio of 0.98 and a beta of 1.13. The company has a 50-day moving average price of $106.34 and a 200-day moving average price of $96.21. 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 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 – Get Free Report) last issued its quarterly earnings data on Tuesday, March 26th. The bank reported $1.30 EPS 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 analysts anticipate that The Bank of New York Mellon Corporation will post 6.96 EPS for the current year.

Bank of New York Mellon Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 7th. Stockholders of record on Monday, October 27th will be paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Monday, October 27th. Bank of New York Mellon’s dividend payout ratio is 30.59%.

Bank of New York Mellon Profile

(Free Report)

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.

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