Stephens Inc. AR Sells 12,889 Shares of The Bank of New York Mellon Corporation $BK

Stephens Inc. AR lessened its holdings in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 48.1% in the 3rd quarter, Holdings Channel.com reports. The firm owned 13,902 shares of the bank’s stock after selling 12,889 shares during the quarter. Stephens Inc. AR’s holdings in Bank of New York Mellon were worth $1,515,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Investment Management Corp of Ontario grew its stake in shares of Bank of New York Mellon by 25.9% in the second quarter. Investment Management Corp of Ontario now owns 125,506 shares of the bank’s stock worth $11,435,000 after acquiring an additional 25,842 shares during the last quarter. Permanent Capital Management LP bought a new stake in Bank of New York Mellon in the 3rd quarter valued at $2,262,000. Robeco Institutional Asset Management B.V. grew its position in Bank of New York Mellon by 36.4% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 2,166,052 shares of the bank’s stock worth $236,013,000 after purchasing an additional 577,621 shares during the last quarter. First Horizon Corp acquired a new stake in Bank of New York Mellon in the 3rd quarter worth $22,072,000. Finally, Highland Capital Management LLC bought a new position in shares of Bank of New York Mellon during the 3rd quarter worth about $1,639,000. Institutional investors and hedge funds own 85.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on BK shares. Barclays lifted their target price on Bank of New York Mellon from $120.00 to $143.00 and gave the stock an “overweight” rating in a research report on Monday, January 5th. Citigroup raised their price objective on Bank of New York Mellon from $120.00 to $136.00 and gave the stock a “neutral” rating in a research report on Wednesday. BMO Capital Markets assumed 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 objective on the stock. The Goldman Sachs Group raised their target price on 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, New Street Research set a $143.00 price target on shares of Bank of New York Mellon in a research note on Wednesday. Nine research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $129.00.

Bank of New York Mellon Stock Down 2.1%

Shares of BK opened at $121.34 on Friday. The company has a market capitalization of $84.62 billion, a P/E ratio of 16.38, a PEG ratio of 1.13 and a beta of 1.11. The Bank of New York Mellon Corporation has a one year low of $70.46 and a one year high of $125.89. The business’s 50 day simple moving average is $115.07 and its 200-day simple moving average is $107.63. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.71 and a quick ratio of 0.70.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings data on Friday, October 31st. The bank reported $1.91 earnings per share (EPS) 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%. As a group, sell-side analysts predict that The Bank of New York Mellon Corporation will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 5th. Investors of record on Friday, January 23rd will be given a dividend of $0.53 per share. The ex-dividend date is Friday, January 23rd. This represents a $2.12 annualized dividend and a yield of 1.7%. Bank of New York Mellon’s dividend payout ratio 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.