Howard Capital Management Inc. Raises Position in The Bank of New York Mellon Corporation $BK

Howard Capital Management Inc. boosted its stake in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 6.1% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,541 shares of the bank’s stock after purchasing an additional 263 shares during the period. Howard Capital Management Inc.’s holdings in Bank of New York Mellon were worth $414,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of BK. Revolve Wealth Partners LLC purchased a new position in shares of Bank of New York Mellon during the 4th quarter valued at about $220,000. Golden State Wealth Management LLC lifted its holdings 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 valued at $34,000 after purchasing an additional 283 shares in the last quarter. Koshinski Asset Management Inc. purchased a new position in Bank of New York Mellon during the first quarter valued at approximately $209,000. Alta Advisers Ltd purchased a new position in Bank of New York Mellon during the first quarter valued at approximately $287,000. Finally, Vontobel Holding Ltd. lifted its holdings in Bank of New York Mellon by 135.8% during the first quarter. Vontobel Holding Ltd. now owns 48,486 shares of the bank’s stock valued at $4,067,000 after purchasing an additional 27,921 shares in the last quarter. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Bank of New York Mellon Price Performance

NYSE:BK opened at $107.00 on Thursday. The company has a market capitalization of $75.46 billion, a P/E ratio of 15.44, a P/E/G ratio of 0.99 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 $110.87. The business’s 50-day moving average is $106.46 and its 200 day moving average is $96.42. 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 issued its quarterly earnings data on Tuesday, March 26th. The bank reported $1.30 earnings per share (EPS) for the quarter. The business had revenue of $4.38 billion for the quarter. Bank of New York Mellon had a return on equity of 14.03% and a net margin of 12.86%. On average, equities research analysts forecast that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current fiscal year.

Bank of New York Mellon Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on BK. Morgan Stanley lifted their target price on shares of Bank of New York Mellon from $101.00 to $116.00 and gave the company an “overweight” rating in a research note on Monday, September 29th. TD Cowen boosted their price objective on Bank of New York Mellon from $130.00 to $133.00 and gave the company a “buy” rating in a research report on Monday, October 20th. Keefe, Bruyette & Woods boosted their price target on Bank of New York Mellon from $120.00 to $124.00 and gave the stock an “outperform” rating in a report on Friday, October 17th. Citigroup boosted their price target on 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. Finally, Wells Fargo & Company boosted their price target on Bank of New York Mellon from $100.00 to $109.00 and gave the stock an “equal weight” rating in a report on Friday, October 17th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target 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.