Midwest Trust Co Takes Position in The Bank of New York Mellon Corporation $BK

Midwest Trust Co bought a new position in shares of The Bank of New York Mellon Corporation (NYSE:BK) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 4,310 shares of the bank’s stock, valued at approximately $393,000.

A number of other institutional investors and hedge funds have also bought and sold shares of BK. Westside Investment Management Inc. lifted its position in Bank of New York Mellon by 78.9% during the second quarter. Westside Investment Management Inc. now owns 288 shares of the bank’s stock worth $26,000 after acquiring an additional 127 shares during the last quarter. Orion Capital Management LLC acquired a new position in shares of Bank of New York Mellon in the first quarter valued at approximately $32,000. Hoey Investments Inc. bought a new position in shares of Bank of New York Mellon during the second quarter worth approximately $32,000. McClarren Financial Advisors Inc. acquired a new stake in Bank of New York Mellon during the 1st quarter worth approximately $34,000. Finally, GFG Capital LLC bought a new stake in Bank of New York Mellon in the 2nd quarter valued at $36,000. Institutional investors and hedge funds own 85.31% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. TD Cowen increased their price objective 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. Morgan Stanley upped their price target on shares of Bank of New York Mellon from $101.00 to $116.00 and gave the company an “overweight” rating in a research note on Monday, September 29th. BMO Capital Markets started coverage on shares of Bank of New York Mellon in a research note on Friday, October 3rd. They issued an “outperform” rating and a $125.00 price objective for the company. Wells Fargo & Company boosted their price objective on shares of 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. Finally, Keefe, Bruyette & Woods increased their target price on shares of Bank of New York Mellon from $120.00 to $124.00 and gave the stock an “outperform” rating in a research report on Friday, October 17th. Ten analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, 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 Trading Up 1.2%

Shares of BK stock opened at $112.62 on Thursday. The Bank of New York Mellon Corporation has a fifty-two week low of $70.46 and a fifty-two week high of $113.74. The stock’s fifty day moving average price is $107.46 and its two-hundred day moving average price is $98.69. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.72 and a current ratio of 0.70. The company has a market cap of $78.54 billion, a PE ratio of 16.25, a P/E/G ratio of 0.98 and a beta of 1.13.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings data on Tuesday, March 26th. The bank reported $1.30 earnings per share for the quarter. The business had revenue of $4.38 billion during the quarter. Bank of New York Mellon had a return on equity of 14.03% and a net margin of 12.86%. Equities analysts predict 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 announced a quarterly dividend, which was paid on Friday, November 7th. Stockholders of record on Monday, October 27th were issued 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 dividend payout ratio is 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.