ProShare Advisors LLC Decreases Stock Holdings in The Bank of New York Mellon Corporation $BK

ProShare Advisors LLC lessened its holdings in The Bank of New York Mellon Corporation (NYSE:BK) by 5.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 158,333 shares of the bank’s stock after selling 9,747 shares during the period. ProShare Advisors LLC’s holdings in Bank of New York Mellon were worth $14,426,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in BK. Canada Post Corp Registered Pension Plan purchased a new stake in shares of Bank of New York Mellon during the first quarter valued at approximately $1,035,000. Formidable Asset Management LLC acquired a new stake in Bank of New York Mellon during the 1st quarter valued at $247,000. Goldman Sachs Group Inc. grew its holdings in Bank of New York Mellon by 26.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 5,053,744 shares of the bank’s stock valued at $423,858,000 after purchasing an additional 1,052,145 shares in the last quarter. Nuveen LLC purchased a new stake in Bank of New York Mellon during the 1st quarter worth $773,627,000. Finally, Marble Harbor Investment Counsel LLC acquired a new position in Bank of New York Mellon in the 1st quarter worth $218,000. 85.31% of the stock is owned by hedge funds and other institutional investors.

Bank of New York Mellon Price Performance

Shares of NYSE BK opened at $111.23 on Wednesday. The company has a current ratio of 0.70, a quick ratio of 0.72 and a debt-to-equity ratio of 0.83. The company has a market capitalization of $77.57 billion, a price-to-earnings ratio of 16.05, a price-to-earnings-growth ratio of 0.98 and a beta of 1.13. The Bank of New York Mellon Corporation has a twelve month low of $70.46 and a twelve month high of $111.94. The business has a 50 day simple moving average of $107.29 and a 200-day simple moving average of $98.59.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings data on Tuesday, March 26th. The bank reported $1.30 EPS for the quarter. Bank of New York Mellon had a net margin of 12.86% and a return on equity of 14.03%. The firm had revenue of $4.38 billion during the quarter. As a group, equities research analysts expect that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 7th. Stockholders of record on Monday, October 27th were issued a dividend of $0.53 per share. The ex-dividend date of this dividend was Monday, October 27th. This represents a $2.12 annualized dividend and a dividend yield of 1.9%. Bank of New York Mellon’s dividend payout ratio is 30.59%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Morgan Stanley raised their target price on Bank of New York Mellon from $101.00 to $116.00 and gave the company an “overweight” rating in a research note on Monday, September 29th. Barclays raised their price objective on Bank of New York Mellon from $104.00 to $120.00 and gave the company an “overweight” rating in a research note on Friday, October 17th. Evercore ISI upped their target price on Bank of New York Mellon from $91.00 to $110.00 and gave the company an “in-line” rating in a research report on Tuesday, September 30th. The Goldman Sachs Group raised their price target on shares of Bank of New York Mellon from $106.00 to $120.00 and gave the stock a “buy” rating in a research report on Monday, October 6th. Finally, BMO Capital Markets initiated coverage on shares of Bank of New York Mellon in a research note on Friday, October 3rd. They issued an “outperform” rating and a $125.00 price target for the company. Ten equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $111.29.

About Bank of New York Mellon

The Bank of New York Mellon Corporation provides a range of financial products and services in the United States and internationally. The company operates through Securities Services, Market and Wealth Services, Investment and Wealth Management, and other segments. The Securities Services segment offers custody, trust and depositary, accounting, exchange-traded funds, middle-office solutions, transfer agency, services for private equity and real estate funds, foreign exchange, securities lending, liquidity/lending services, and data analytics.