The Bank of New York Mellon Corporation $BK Shares Acquired by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in The Bank of New York Mellon Corporation (NYSE:BK) by 6.9% in the second quarter, HoldingsChannel reports. The firm owned 175,464 shares of the bank’s stock after buying an additional 11,340 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Bank of New York Mellon were worth $15,987,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Westside Investment Management Inc. grew its stake 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 acquiring an additional 127 shares in the last quarter. Orion Capital Management LLC purchased a new position in Bank of New York Mellon in the first quarter valued at $32,000. Hoey Investments Inc. purchased a new position in Bank of New York Mellon in the second quarter valued at $32,000. McClarren Financial Advisors Inc. purchased a new stake in Bank of New York Mellon during the 1st quarter worth about $34,000. Finally, GFG Capital LLC acquired a new stake in Bank of New York Mellon in the 2nd quarter valued at about $36,000. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

BK has been the subject of a number of analyst reports. Weiss Ratings reissued a “buy (b)” rating on shares of Bank of New York Mellon in a research report on Thursday. Evercore ISI boosted their price target on shares of Bank of New York Mellon from $91.00 to $110.00 and gave the stock an “in-line” rating in a report on Tuesday, September 30th. BMO Capital Markets started coverage on shares of Bank of New York Mellon in a report on Friday, October 3rd. They issued an “outperform” rating and a $125.00 price objective on the stock. Citigroup lifted their price objective on shares of Bank of New York Mellon from $92.00 to $105.00 and gave the stock a “neutral” rating in a research report on Friday, September 5th. Finally, Morgan Stanley increased their target price on Bank of New York Mellon from $101.00 to $116.00 and gave the company an “overweight” rating in a report on Monday, September 29th. Ten equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $111.29.

Bank of New York Mellon Trading Down 0.4%

Shares of Bank of New York Mellon stock opened at $110.60 on Friday. 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 fifty day simple moving average of $107.70 and a 200-day simple moving average of $99.13. The stock has a market cap of $77.13 billion, a price-to-earnings ratio of 15.96, a PEG ratio of 0.98 and a beta of 1.13. The Bank of New York Mellon Corporation has a 12-month low of $70.46 and a 12-month high of $113.74.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings results on Tuesday, March 26th. The bank reported $1.30 earnings per share 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. On average, equities analysts forecast 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 company also recently announced a quarterly dividend, which was paid on Friday, November 7th. Stockholders of record on Monday, October 27th were issued a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend was Monday, October 27th. Bank of New York Mellon’s payout ratio is presently 30.59%.

Bank of New York Mellon Profile

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.