The Bank of New York Mellon Corporation $BK Shares Sold by Bailard Inc.

Bailard Inc. lessened its position in The Bank of New York Mellon Corporation (NYSE:BK) by 2.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 28,543 shares of the bank’s stock after selling 798 shares during the period. Bailard Inc.’s holdings in Bank of New York Mellon were worth $2,601,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Westside Investment Management Inc. raised its holdings in shares of Bank of New York Mellon by 78.9% during the second quarter. Westside Investment Management Inc. now owns 288 shares of the bank’s stock valued at $26,000 after buying an additional 127 shares during the last quarter. Orion Capital Management LLC bought a new stake in Bank of New York Mellon during the 1st quarter valued at $32,000. Hoey Investments Inc. acquired a new position in Bank of New York Mellon during the 2nd quarter worth $32,000. McClarren Financial Advisors Inc. acquired a new position in Bank of New York Mellon during the 1st quarter worth $34,000. Finally, GFG Capital LLC bought a new position in shares of Bank of New York Mellon in the second quarter worth $36,000. 85.31% of the stock is owned by institutional investors and hedge funds.

Bank of New York Mellon Stock Performance

BK opened at $112.62 on Thursday. The company has a quick ratio of 0.72, a current ratio of 0.70 and a debt-to-equity ratio of 0.83. The firm has a market cap of $78.54 billion, a PE ratio of 16.25, a P/E/G ratio of 0.98 and a beta of 1.13. The business has a fifty day simple moving average of $107.46 and a 200-day simple moving average of $98.69. The Bank of New York Mellon Corporation has a fifty-two week low of $70.46 and a fifty-two week high of $113.74.

Bank of New York Mellon (NYSE:BK) last announced its earnings results on Tuesday, March 26th. The bank reported $1.30 EPS for the quarter. The business had revenue of $4.38 billion during the quarter. Bank of New York Mellon had a return on equity of 14.03% and a net margin of 12.86%. As a group, equities 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 Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 7th. Stockholders of record on Monday, October 27th were given 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 dividend payout ratio (DPR) is 30.59%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on BK shares. TD Cowen upped their price objective on shares of Bank of New York Mellon from $130.00 to $133.00 and gave the stock a “buy” rating in a report on Monday, October 20th. Barclays upped their price target on shares of Bank of New York Mellon from $104.00 to $120.00 and gave the stock an “overweight” rating in a research note on Friday, October 17th. Weiss Ratings lowered shares of Bank of New York Mellon from a “buy (a-)” rating to a “buy (b)” rating in a research note on Friday, November 7th. Morgan Stanley upped their target price on Bank of New York Mellon from $101.00 to $116.00 and gave the stock an “overweight” rating in a research report on Monday, September 29th. Finally, Keefe, Bruyette & Woods increased their price target on Bank of New York Mellon from $120.00 to $124.00 and gave the company an “outperform” rating in a research note on Friday, October 17th. Ten equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Bank of New York Mellon presently has an average rating of “Moderate Buy” and an average 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.