Segall Bryant & Hamill LLC Reduces Stake in The Bank of New York Mellon Corporation $BK

Segall Bryant & Hamill LLC reduced its holdings in The Bank of New York Mellon Corporation (NYSE:BK) by 2.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 182,710 shares of the bank’s stock after selling 4,319 shares during the quarter. Segall Bryant & Hamill LLC’s holdings in Bank of New York Mellon were worth $19,908,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BK. Valeo Financial Advisors LLC boosted its holdings in Bank of New York Mellon by 1.3% in the third quarter. Valeo Financial Advisors LLC now owns 7,539 shares of the bank’s stock valued at $821,000 after acquiring an additional 94 shares in the last quarter. Ferguson Wellman Capital Management Inc. lifted its position in shares of Bank of New York Mellon by 0.4% in the 3rd quarter. Ferguson Wellman Capital Management Inc. now owns 24,752 shares of the bank’s stock worth $2,697,000 after purchasing an additional 96 shares during the period. Leonard Rickey Investment Advisors P.L.L.C. boosted its stake in shares of Bank of New York Mellon by 1.9% during the 3rd quarter. Leonard Rickey Investment Advisors P.L.L.C. now owns 5,192 shares of the bank’s stock valued at $566,000 after purchasing an additional 98 shares in the last quarter. Tiemann Investment Advisors LLC increased its position in shares of Bank of New York Mellon by 2.9% during the second quarter. Tiemann Investment Advisors LLC now owns 3,492 shares of the bank’s stock valued at $318,000 after buying an additional 100 shares during the period. Finally, Cary Street Partners Investment Advisory LLC increased its position in shares of Bank of New York Mellon by 13.7% during the second quarter. Cary Street Partners Investment Advisory LLC now owns 828 shares of the bank’s stock valued at $75,000 after buying an additional 100 shares during the period. Institutional investors own 85.31% of the company’s stock.

Wall Street Analysts Forecast Growth

BK has been the subject of several research analyst reports. New Street Research set a $143.00 price objective on shares of Bank of New York Mellon in a report on Wednesday, January 14th. Royal Bank Of Canada increased their target price on Bank of New York Mellon from $124.00 to $130.00 and gave the stock a “sector perform” rating in a research report on Wednesday, January 14th. Wells Fargo & Company lifted their price target on Bank of New York Mellon from $119.00 to $122.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 14th. TD Cowen upped their price target on Bank of New York Mellon from $133.00 to $145.00 and gave the stock a “buy” rating in a research note on Wednesday, January 7th. Finally, Barclays increased their price objective on Bank of New York Mellon from $120.00 to $143.00 and gave the stock an “overweight” rating in a report on Monday, January 5th. Eight equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Bank of New York Mellon presently has a consensus rating of “Moderate Buy” and a consensus target price of $131.92.

Bank of New York Mellon Stock Down 1.2%

Shares of NYSE:BK opened at $118.01 on Wednesday. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.81. The stock has a fifty day simple moving average of $119.74 and a two-hundred day simple moving average of $112.50. The Bank of New York Mellon Corporation has a 12-month low of $70.46 and a 12-month high of $128.76. The stock has a market capitalization of $81.06 billion, a price-to-earnings ratio of 15.93, a PEG ratio of 1.12 and a beta of 1.10.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings results on Friday, October 31st. The bank reported $1.91 earnings per share for the quarter. The firm had revenue of $5.07 billion during the quarter. Bank of New York Mellon had a return on equity of 14.37% and a net margin of 13.62%. On average, research analysts anticipate that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current fiscal year.

Bank of New York Mellon Announces Dividend

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

About Bank of New York Mellon

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.