Gamco Investors INC. ET AL Has $142.30 Million Holdings in The Bank of New York Mellon Corporation $BK

Gamco Investors INC. ET AL lessened its stake in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 9.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,306,010 shares of the bank’s stock after selling 136,804 shares during the period. Bank of New York Mellon accounts for about 1.4% of Gamco Investors INC. ET AL’s portfolio, making the stock its 6th biggest position. Gamco Investors INC. ET AL owned about 0.19% of Bank of New York Mellon worth $142,303,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Valley Wealth Managers Inc. acquired a new position in shares of Bank of New York Mellon in the 3rd quarter valued at approximately $33,000. Caldwell Trust Co bought a new position in Bank of New York Mellon in the second quarter valued at approximately $36,000. Westside Investment Management Inc. increased its stake in Bank of New York Mellon by 44.1% in the third quarter. Westside Investment Management Inc. now owns 415 shares of the bank’s stock valued at $45,000 after acquiring an additional 127 shares during the last quarter. Dunhill Financial LLC raised its position in Bank of New York Mellon by 130.8% during the third quarter. Dunhill Financial LLC now owns 427 shares of the bank’s stock valued at $47,000 after purchasing an additional 242 shares in the last quarter. Finally, Cornerstone Planning Group LLC lifted its stake in Bank of New York Mellon by 73.2% during the third quarter. Cornerstone Planning Group LLC now owns 511 shares of the bank’s stock worth $55,000 after purchasing an additional 216 shares during the last quarter. 85.31% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Morgan Stanley upped their price objective on Bank of New York Mellon from $124.00 to $132.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 14th. Wells Fargo & Company increased their target price on shares of Bank of New York Mellon from $119.00 to $122.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 14th. Citigroup initiated coverage on shares of Bank of New York Mellon in a report on Monday, February 23rd. They set a “neutral” rating on the stock. Barclays increased their price objective on shares of Bank of New York Mellon from $120.00 to $143.00 and gave the company an “overweight” rating in a research note on Monday, January 5th. Finally, Truist Financial raised shares of Bank of New York Mellon from a “hold” rating to a “buy” rating and boosted their target price for the stock from $119.00 to $134.00 in a research note on Wednesday, January 7th. Eight investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $131.92.

Bank of New York Mellon Stock Performance

NYSE:BK opened at $115.22 on Friday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.71 and a current ratio of 0.71. The Bank of New York Mellon Corporation has a fifty-two week low of $70.46 and a fifty-two week high of $128.76. The company has a 50 day simple moving average of $119.69 and a two-hundred day simple moving average of $112.66. The company has a market capitalization of $79.15 billion, a PE ratio of 15.55, a P/E/G ratio of 1.09 and a beta of 1.10.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings data on Friday, October 31st. The bank reported $1.91 EPS for the quarter. Bank of New York Mellon had a net margin of 13.62% and a return on equity of 14.37%. The company had revenue of $5.07 billion for the quarter. Research analysts anticipate that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current 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. The ex-dividend date of this dividend 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 28.61%.

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.