Short Interest in The Bank of New York Mellon Corporation (NYSE:BK) Increases By 27.0%

The Bank of New York Mellon Corporation (NYSE:BK) was the recipient of a large growth in short interest in the month of January. As of January 30th, there was short interest totaling 8,913,188 shares, a growth of 27.0% from the January 15th total of 7,019,921 shares. Approximately 1.3% of the company’s shares are short sold. Based on an average trading volume of 3,652,105 shares, the short-interest ratio is currently 2.4 days. Based on an average trading volume of 3,652,105 shares, the short-interest ratio is currently 2.4 days. Approximately 1.3% of the company’s shares are short sold.

Bank of New York Mellon Trading Up 0.9%

Shares of BK opened at $118.82 on Wednesday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.70 and a current ratio of 0.71. Bank of New York Mellon has a one year low of $70.46 and a one year high of $128.76. The stock has a 50-day moving average price of $119.29 and a 200 day moving average price of $111.35. The company has a market capitalization of $82.86 billion, a P/E ratio of 16.04, a P/E/G ratio of 1.10 and a beta of 1.10.

Bank of New York Mellon (NYSE:BK) last released its earnings results on Friday, October 31st. The bank reported $1.91 earnings per share for the quarter. The company had revenue of $5.07 billion during the quarter. Bank of New York Mellon had a net margin of 13.62% and a return on equity of 14.37%. Sell-side analysts forecast that Bank of New York Mellon will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, February 5th. Stockholders of record on Friday, January 23rd were given a $0.53 dividend. The ex-dividend date was Friday, January 23rd. This represents a $2.12 annualized dividend and a dividend yield of 1.8%. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 28.61%.

Analyst Ratings Changes

A number of brokerages have recently commented on BK. Truist Financial raised shares of Bank of New York Mellon from a “hold” rating to a “buy” rating and raised their target price for the stock from $119.00 to $134.00 in a research report on Wednesday, January 7th. Weiss Ratings lowered shares of Bank of New York Mellon from a “buy (a-)” rating to a “buy (b+)” rating in a report on Friday. Wells Fargo & Company boosted their price objective on shares of Bank of New York Mellon from $119.00 to $122.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 14th. New Street Research set a $143.00 target price on Bank of New York Mellon in a research report on Wednesday, January 14th. Finally, TD Cowen boosted their price target on Bank of New York Mellon from $133.00 to $145.00 and gave the company a “buy” rating in a research report on Wednesday, January 7th. Eight equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $131.92.

Institutional Investors Weigh In On Bank of New York Mellon

Several institutional investors and hedge funds have recently made changes to their positions in the company. Caisse de depot et placement du Quebec increased its stake in Bank of New York Mellon by 1.2% during the fourth quarter. Caisse de depot et placement du Quebec now owns 418,465 shares of the bank’s stock valued at $48,580,000 after purchasing an additional 5,136 shares during the last quarter. Schonfeld Strategic Advisors LLC acquired a new position in shares of Bank of New York Mellon in the 4th quarter valued at about $3,887,000. DV Equities LLC bought a new stake in shares of Bank of New York Mellon during the 4th quarter valued at about $114,000. AQR Capital Management LLC raised its stake in Bank of New York Mellon by 6.4% during the fourth quarter. AQR Capital Management LLC now owns 4,280,883 shares of the bank’s stock worth $496,968,000 after acquiring an additional 257,220 shares during the period. Finally, Abel Hall LLC raised its stake in Bank of New York Mellon by 92.2% during the fourth quarter. Abel Hall LLC now owns 4,367 shares of the bank’s stock worth $507,000 after acquiring an additional 2,095 shares during the period. 85.31% of the stock is owned by institutional investors and hedge funds.

Bank of New York Mellon Company Profile

Bank of New York Mellon Corporation (BNY Mellon) is a global financial services company headquartered in New York City that provides a wide range of asset servicing, custody, and related financial infrastructure solutions to institutional clients. Its core businesses include custody and asset servicing, clearing and collateral management, treasury services, securities lending, corporate trust services, and depositary receipt administration. The company also offers investment management and advisory services through its asset management arm and provides technology-enabled solutions for trade processing, foreign exchange, and liquidity management.

BNY Mellon serves a broad client base that includes asset managers, pension funds, corporations, banks, broker-dealers and sovereign entities.