The Bank of New York Mellon Corporation $BK Shares Acquired by Neo Ivy Capital Management

Neo Ivy Capital Management lifted its position in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 27,430.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 5,506 shares of the bank’s stock after buying an additional 5,486 shares during the period. Neo Ivy Capital Management’s holdings in Bank of New York Mellon were worth $600,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Ashton Thomas Private Wealth LLC boosted its stake in Bank of New York Mellon by 133.2% in the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 91,762 shares of the bank’s stock worth $9,998,000 after buying an additional 52,412 shares during the last quarter. Jones Financial Companies Lllp increased its stake in shares of Bank of New York Mellon by 35.1% during the 3rd quarter. Jones Financial Companies Lllp now owns 31,848 shares of the bank’s stock valued at $3,487,000 after acquiring an additional 8,277 shares during the last quarter. Investment Management Corp of Ontario increased its stake in shares of Bank of New York Mellon by 25.9% during the 2nd quarter. Investment Management Corp of Ontario now owns 125,506 shares of the bank’s stock valued at $11,435,000 after acquiring an additional 25,842 shares during the last quarter. First National Advisers LLC purchased a new position in shares of Bank of New York Mellon during the 3rd quarter worth about $3,304,000. Finally, First Horizon Corp purchased a new position in shares of Bank of New York Mellon during the 3rd quarter worth about $22,072,000. Institutional investors and hedge funds own 85.31% of the company’s stock.

Bank of New York Mellon Trading Down 1.3%

BK opened at $115.22 on Friday. The firm’s 50 day moving average is $119.69 and its 200-day moving average is $112.74. The Bank of New York Mellon Corporation has a 52-week low of $70.46 and a 52-week high of $128.76. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.81. The firm has a market capitalization of $79.15 billion, a P/E ratio of 15.55, a P/E/G ratio of 1.08 and a beta of 1.10.

Bank of New York Mellon (NYSE:BK) last announced its earnings results on Friday, October 31st. The bank reported $1.91 earnings per share for the quarter. The business had revenue of $5.07 billion during the quarter. Bank of New York Mellon had a net margin of 13.62% and a return on equity of 14.37%. Analysts expect that The Bank of New York Mellon Corporation will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 5th. Shareholders of record on Friday, January 23rd were issued a $0.53 dividend. The ex-dividend date was Friday, January 23rd. This represents a $2.12 dividend on an annualized basis and a yield of 1.8%. Bank of New York Mellon’s payout ratio is currently 28.61%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Weiss Ratings lowered shares of Bank of New York Mellon from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Friday, February 13th. Keefe, Bruyette & Woods upped their price objective on Bank of New York Mellon from $132.00 to $143.00 and gave the stock an “outperform” rating in a report on Wednesday, January 14th. Barclays increased 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. Royal Bank Of Canada lifted their target price on Bank of New York Mellon from $124.00 to $130.00 and gave the company a “sector perform” rating in a report on Wednesday, January 14th. Finally, Truist Financial raised Bank of New York Mellon from a “hold” rating to a “buy” rating and boosted their price target for the company from $119.00 to $134.00 in a research report on Wednesday, January 7th. Eight research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Bank of New York Mellon has an average rating of “Moderate Buy” and a consensus price target of $131.92.

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.