Catalyst Capital Advisors LLC Trims Stake in The Bank of New York Mellon Corporation $BK

Catalyst Capital Advisors LLC trimmed its holdings in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 13.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 907 shares of the bank’s stock after selling 146 shares during the quarter. Catalyst Capital Advisors LLC’s holdings in Bank of New York Mellon were worth $83,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Cornerstone Planning Group LLC grew its position in Bank of New York Mellon by 100.0% during the first quarter. Cornerstone Planning Group LLC now owns 392 shares of the bank’s stock worth $30,000 after buying an additional 196 shares in the last quarter. Orion Capital Management LLC purchased a new position in Bank of New York Mellon during the first quarter worth about $32,000. Hoey Investments Inc. purchased a new position in Bank of New York Mellon during the second quarter worth about $32,000. Golden State Wealth Management LLC grew its position in Bank of New York Mellon by 226.4% during the first quarter. Golden State Wealth Management LLC now owns 408 shares of the bank’s stock worth $34,000 after buying an additional 283 shares in the last quarter. Finally, McClarren Financial Advisors Inc. purchased a new position in Bank of New York Mellon during the first quarter worth about $34,000. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on BK. 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 target price for the company. The Goldman Sachs Group upped their price objective on Bank of New York Mellon from $106.00 to $120.00 and gave the stock a “buy” rating in a report on Monday, October 6th. Barclays upped their price objective on Bank of New York Mellon from $104.00 to $120.00 and gave the stock an “overweight” rating in a report on Friday, October 17th. Weiss Ratings upgraded Bank of New York Mellon from a “buy (b+)” rating to a “buy (a-)” rating in a report on Friday. Finally, Truist Financial upped their price objective on Bank of New York Mellon from $118.00 to $119.00 and gave the stock a “hold” rating in a report on Friday, October 17th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $111.29.

Bank of New York Mellon Trading Up 1.2%

Shares of BK stock opened at $107.91 on Friday. The stock has a market capitalization of $76.10 billion, a PE ratio of 15.57, a P/E/G ratio of 0.99 and a beta of 1.13. The Bank of New York Mellon Corporation has a 1-year low of $70.46 and a 1-year high of $110.87. The business has a 50-day moving average of $106.07 and a 200 day moving average of $95.68. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.70 and a quick ratio of 0.72.

Bank of New York Mellon (NYSE:BK) last issued its earnings results on Tuesday, March 26th. The bank reported $1.30 earnings per share for the quarter. The company 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, sell-side analysts anticipate that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 7th. Investors of record on Monday, October 27th will be issued a dividend of $0.53 per share. The ex-dividend date is Monday, October 27th. This represents a $2.12 annualized dividend and a yield of 2.0%. Bank of New York Mellon’s dividend payout ratio is currently 30.59%.

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.