Catalyst Capital Advisors LLC Sells 146 Shares of The Bank of New York Mellon Corporation $BK

Catalyst Capital Advisors LLC decreased its holdings in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 13.9% in the second quarter, HoldingsChannel reports. The firm owned 907 shares of the bank’s stock after selling 146 shares during the quarter. Catalyst Capital Advisors LLC’s holdings in Bank of New York Mellon were worth $83,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of BK. Revolve Wealth Partners LLC bought a new position in Bank of New York Mellon during the 4th quarter valued at approximately $220,000. GAMMA Investing LLC raised its position in Bank of New York Mellon by 14.9% during the 1st quarter. GAMMA Investing LLC now owns 16,692 shares of the bank’s stock valued at $1,400,000 after purchasing an additional 2,168 shares during the last quarter. Oppenheimer Asset Management Inc. raised its position in Bank of New York Mellon by 3.6% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 6,131 shares of the bank’s stock valued at $514,000 after purchasing an additional 213 shares during the last quarter. Golden State Wealth Management LLC raised its position in Bank of New York Mellon by 226.4% during the 1st 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. Finally, Perigon Wealth Management LLC raised its position in Bank of New York Mellon by 5.8% during the 1st quarter. Perigon Wealth Management LLC now owns 6,741 shares of the bank’s stock valued at $565,000 after purchasing an additional 372 shares during the last quarter. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Stock Up 1.2%

BK stock opened at $107.91 on Friday. The Bank of New York Mellon Corporation has a twelve month low of $70.46 and a twelve month high of $110.87. The company has a quick ratio of 0.72, a current ratio of 0.70 and a debt-to-equity ratio of 0.83. The firm has a market cap of $76.10 billion, a PE ratio of 15.57, a price-to-earnings-growth ratio of 0.99 and a beta of 1.13. The business has a 50 day moving average of $106.07 and a 200 day moving average of $95.68.

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. Bank of New York Mellon had a return on equity of 14.03% and a net margin of 12.86%.The company had revenue of $4.38 billion during the quarter. On average, research 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 Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms have commented on BK. The Goldman Sachs Group upped 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. Evercore ISI increased their target price on Bank of New York Mellon from $91.00 to $110.00 and gave the stock an “in-line” rating in a research report on Tuesday, September 30th. Keefe, Bruyette & Woods lifted their price target on Bank of New York Mellon from $120.00 to $124.00 and gave the company an “outperform” rating in a research report on Friday, October 17th. Truist Financial upped their price target on 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, Morgan Stanley upped their price target on Bank of New York Mellon from $101.00 to $116.00 and gave the stock an “overweight” rating in a research note on Monday, September 29th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, Bank of New York Mellon has an average rating of “Moderate Buy” and an average price target of $111.29.

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.