Stephens Inc. AR Cuts Stock Position in The Bank of New York Mellon Corporation $BK

Stephens Inc. AR trimmed its position in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 15.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,791 shares of the bank’s stock after selling 4,897 shares during the period. Stephens Inc. AR’s holdings in Bank of New York Mellon were worth $2,441,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in BK. Ameriprise Financial Inc. grew its holdings in Bank of New York Mellon by 1.9% during the 1st quarter. Ameriprise Financial Inc. now owns 12,043,601 shares of the bank’s stock worth $1,010,093,000 after acquiring an additional 221,613 shares in the last quarter. Nuveen LLC acquired a new position in Bank of New York Mellon during the 1st quarter worth $773,627,000. Invesco Ltd. grew its holdings in Bank of New York Mellon by 8.8% during the 1st quarter. Invesco Ltd. now owns 8,264,176 shares of the bank’s stock worth $693,116,000 after acquiring an additional 667,966 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Bank of New York Mellon by 5.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,125,577 shares of the bank’s stock worth $681,492,000 after acquiring an additional 436,100 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in Bank of New York Mellon by 26.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 5,053,744 shares of the bank’s stock worth $423,858,000 after acquiring an additional 1,052,145 shares in the last quarter. 85.31% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have weighed in on BK shares. Truist Financial raised their price objective on shares of Bank of New York Mellon from $118.00 to $119.00 and gave the stock a “hold” rating in a report on Friday, October 17th. The Goldman Sachs Group raised their price objective on shares of Bank of New York Mellon from $106.00 to $120.00 and gave the stock a “buy” rating in a report on Monday, October 6th. Keefe, Bruyette & Woods raised their price objective on shares of Bank of New York Mellon from $120.00 to $124.00 and gave the stock an “outperform” rating in a report on Friday, October 17th. BMO Capital Markets began coverage on shares of Bank of New York Mellon in a report on Friday, October 3rd. They issued an “outperform” rating and a $125.00 price target for the company. Finally, TD Cowen lifted their price target on shares of Bank of New York Mellon from $130.00 to $133.00 and gave the company a “buy” rating in a report on Monday. Ten equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, Bank of New York Mellon presently has a consensus rating of “Moderate Buy” and a consensus target price of $111.29.

Bank of New York Mellon Trading Down 0.0%

NYSE BK opened at $106.95 on Thursday. The Bank of New York Mellon Corporation has a one year low of $70.46 and a one year high of $110.87. The company has a 50-day simple moving average of $105.87 and a 200-day simple moving average of $95.06. 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 firm has a market capitalization of $75.42 billion, a PE ratio of 15.43, a price-to-earnings-growth ratio of 0.98 and a beta of 1.13.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings results on Tuesday, March 26th. The bank reported $1.30 EPS for the quarter. Bank of New York Mellon had a net margin of 12.86% and a return on equity of 14.03%. The company had revenue of $4.38 billion for the quarter. On average, equities analysts forecast 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 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. The ex-dividend date of this dividend is Monday, October 27th. This represents a $2.12 dividend on an annualized basis and a yield of 2.0%. Bank of New York Mellon’s payout ratio is presently 30.59%.

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.