Rathbones Group PLC Trims Position in The Bank of New York Mellon Corporation $BK

Rathbones Group PLC decreased its position in The Bank of New York Mellon Corporation (NYSE:BK) by 7.4% during the third quarter, Holdings Channel reports. The fund owned 60,000 shares of the bank’s stock after selling 4,813 shares during the period. Rathbones Group PLC’s holdings in Bank of New York Mellon were worth $6,538,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of BK. Ashton Thomas Private Wealth LLC lifted its stake in shares of Bank of New York Mellon by 133.2% in the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 91,762 shares of the bank’s stock worth $9,998,000 after purchasing an additional 52,412 shares during the period. Jones Financial Companies Lllp boosted its holdings in shares of Bank of New York Mellon by 35.1% in the third quarter. Jones Financial Companies Lllp now owns 31,848 shares of the bank’s stock worth $3,487,000 after buying an additional 8,277 shares during the last quarter. Investment Management Corp of Ontario grew its position in Bank of New York Mellon by 25.9% during the second quarter. Investment Management Corp of Ontario now owns 125,506 shares of the bank’s stock valued at $11,435,000 after buying an additional 25,842 shares during the period. First National Advisers LLC purchased a new stake in Bank of New York Mellon during the third quarter valued at approximately $3,304,000. Finally, First Horizon Corp purchased a new stake in Bank of New York Mellon during the third quarter valued at approximately $22,072,000. 85.31% of the stock is owned by hedge funds and other institutional investors.

Bank of New York Mellon Stock Performance

Shares of NYSE BK opened at $115.22 on Monday. The firm has a fifty day moving average price of $119.69 and a 200-day moving average price of $112.83. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.71 and a quick ratio of 0.71. The stock has a market cap of $79.30 billion, a PE ratio of 15.55, a price-to-earnings-growth ratio of 1.08 and a beta of 1.10. The Bank of New York Mellon Corporation has a 1 year low of $70.46 and a 1 year high of $128.76.

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 for the quarter. Bank of New York Mellon had a net margin of 13.62% and a return on equity of 14.37%. Equities 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 firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 5th. Stockholders of record on Friday, January 23rd were given a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 1.8%. The ex-dividend date was Friday, January 23rd. Bank of New York Mellon’s payout ratio is presently 28.61%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Royal Bank Of Canada lifted their price target on shares of Bank of New York Mellon from $124.00 to $130.00 and gave the stock a “sector perform” rating in a research note on Wednesday, January 14th. Weiss Ratings lowered Bank of New York Mellon from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Friday, February 13th. Keefe, Bruyette & Woods lifted their target price on Bank of New York Mellon from $132.00 to $143.00 and gave the company an “outperform” rating in a research report on Wednesday, January 14th. Citigroup assumed coverage on Bank of New York Mellon in a report on Monday, February 23rd. They set a “neutral” rating for the company. Finally, Wells Fargo & Company upped their price target on Bank of New York Mellon from $119.00 to $122.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 14th. Eight investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $131.92.

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.