Knights of Columbus Asset Advisors LLC Increases Stock Position in The Bank of New York Mellon Corporation $BK

Knights of Columbus Asset Advisors LLC boosted its holdings in The Bank of New York Mellon Corporation (NYSE:BK) by 28.4% in the third quarter, Holdings Channel reports. The institutional investor owned 98,373 shares of the bank’s stock after acquiring an additional 21,742 shares during the quarter. Knights of Columbus Asset Advisors LLC’s holdings in Bank of New York Mellon were worth $10,719,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Westside Investment Management Inc. raised its position in shares of Bank of New York Mellon by 78.9% in the second quarter. Westside Investment Management Inc. now owns 288 shares of the bank’s stock worth $26,000 after buying an additional 127 shares in the last quarter. Valley Wealth Managers Inc. purchased a new stake in shares of Bank of New York Mellon in the 3rd quarter valued at about $33,000. GFG Capital LLC bought a new stake in shares of Bank of New York Mellon during the 2nd quarter valued at about $36,000. Caldwell Trust Co purchased a new position in shares of Bank of New York Mellon during the second quarter worth about $36,000. Finally, Princeton Global Asset Management LLC increased its position in shares of Bank of New York Mellon by 89.0% in the second quarter. Princeton Global Asset Management LLC now owns 446 shares of the bank’s stock worth $41,000 after purchasing an additional 210 shares during the last quarter. 85.31% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on BK shares. TD Cowen boosted their price target on shares of 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. Barclays lifted their price objective on shares of 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. BMO Capital Markets began coverage on Bank of New York Mellon in a research report on Friday, October 3rd. They set an “outperform” rating and a $125.00 price target on the stock. The Goldman Sachs Group upped their price objective on 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. Finally, Royal Bank Of Canada increased their price objective on Bank of New York Mellon from $124.00 to $130.00 and gave the company a “sector perform” rating in a research report on Wednesday, January 14th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four 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 an average price target of $131.92.

Bank of New York Mellon Trading Up 2.0%

NYSE BK opened at $121.33 on Friday. The stock has a 50-day moving average of $116.93 and a 200-day moving average of $109.21. The company has a current ratio of 0.71, a quick ratio of 0.70 and a debt-to-equity ratio of 0.81. The Bank of New York Mellon Corporation has a 1-year low of $70.46 and a 1-year high of $125.89. The firm has a market cap of $84.61 billion, a PE ratio of 16.37, a price-to-earnings-growth ratio of 1.11 and a beta of 1.11.

Bank of New York Mellon (NYSE:BK) last issued its earnings results on Friday, October 31st. The bank reported $1.91 earnings per share (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 firm had revenue of $5.07 billion for the quarter. As a group, sell-side analysts forecast that The Bank of New York Mellon Corporation will post 6.96 EPS for the current year.

Bank of New York Mellon Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 5th. Stockholders of record on Friday, January 23rd will be paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, January 23rd. Bank of New York Mellon’s dividend payout ratio is currently 28.61%.

Bank of New York Mellon 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.