Zions Bancorporation National Association UT Grows Stock Holdings in The Bank of New York Mellon Corporation $BK

Zions Bancorporation National Association UT boosted its stake in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 148.6% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,651 shares of the bank’s stock after buying an additional 987 shares during the period. Zions Bancorporation National Association UT’s holdings in Bank of New York Mellon were worth $150,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the stock. Westside Investment Management Inc. raised its position in shares of Bank of New York Mellon by 78.9% in the 2nd quarter. Westside Investment Management Inc. now owns 288 shares of the bank’s stock worth $26,000 after purchasing an additional 127 shares during the last quarter. Hoey Investments Inc. bought a new stake in Bank of New York Mellon during the 2nd quarter valued at about $32,000. Orion Capital Management LLC purchased a new position in Bank of New York Mellon in the first quarter worth about $32,000. GFG Capital LLC bought a new position in shares of Bank of New York Mellon in the second quarter worth approximately $36,000. Finally, McClarren Financial Advisors Inc. bought a new stake in shares of Bank of New York Mellon during the first quarter valued at approximately $34,000. 85.31% of the stock is owned by institutional investors.

Bank of New York Mellon Stock Performance

NYSE:BK opened at $110.93 on Tuesday. The stock has a 50-day moving average price of $107.16 and a 200 day moving average price of $98.36. The stock has a market capitalization of $77.36 billion, a P/E ratio of 16.01, a P/E/G 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 $111.46. The company has a current ratio of 0.70, a quick ratio of 0.72 and a debt-to-equity ratio of 0.83.

Bank of New York Mellon (NYSE:BK) last posted 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 return on equity of 14.03% and a net margin of 12.86%.The business had revenue of $4.38 billion during the quarter. Equities research 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 business also recently announced a quarterly dividend, which was paid on Friday, November 7th. Investors of record on Monday, October 27th were given a dividend of $0.53 per share. The ex-dividend date was Monday, October 27th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.9%. Bank of New York Mellon’s dividend payout ratio is currently 30.59%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Evercore ISI increased their price objective 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. Barclays upped 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 report on Friday, October 17th. Weiss Ratings cut Bank of New York Mellon from a “buy (a-)” rating to a “buy (b)” rating in a research report on Friday. BMO Capital Markets assumed coverage on shares of Bank of New York Mellon in a research report on Friday, October 3rd. They set an “outperform” rating and a $125.00 price target for the company. Finally, Citigroup raised 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 report on Friday, September 5th. Ten analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Bank of New York Mellon has an average rating of “Moderate Buy” and a consensus target price of $111.29.

Bank of New York Mellon Company 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.