The Bank of New York Mellon Corporation $BK Shares Sold by Carret Asset Management LLC

Carret Asset Management LLC reduced its stake in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 4.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 23,299 shares of the bank’s stock after selling 1,051 shares during the period. Carret Asset Management LLC’s holdings in Bank of New York Mellon were worth $2,123,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in BK. Revolve Wealth Partners LLC acquired a new stake in shares of Bank of New York Mellon during the fourth quarter worth $220,000. Golden State Wealth Management LLC lifted 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 valued at $34,000 after purchasing an additional 283 shares during the period. Koshinski Asset Management Inc. purchased a new position in Bank of New York Mellon in the first quarter valued at $209,000. Alta Advisers Ltd purchased a new position in Bank of New York Mellon in the first quarter valued at $287,000. Finally, Vontobel Holding Ltd. increased its stake in shares of 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 worth $4,067,000 after purchasing an additional 27,921 shares in the last quarter. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have weighed in on BK shares. Citigroup raised their target price on shares of Bank of New York Mellon from $92.00 to $105.00 and gave the stock a “neutral” rating in a research note on Friday, September 5th. Weiss Ratings raised shares of Bank of New York Mellon from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Friday, October 24th. Morgan Stanley increased their price target 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. BMO Capital Markets started coverage on shares of Bank of New York Mellon in a research note on Friday, October 3rd. They issued an “outperform” rating and a $125.00 price target for the company. Finally, Barclays increased their price target on shares of Bank of New York Mellon from $104.00 to $120.00 and gave the company an “overweight” rating in a research note on Friday, October 17th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $111.29.

Bank of New York Mellon Stock Performance

Shares of BK stock opened at $107.00 on Thursday. The firm’s 50 day moving average price is $106.46 and its 200-day moving average price is $96.42. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.72 and a current ratio of 0.70. The Bank of New York Mellon Corporation has a one year low of $70.46 and a one year high of $110.87. The firm has a market cap 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.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings data on Tuesday, March 26th. The bank reported $1.30 EPS for the quarter. Bank of New York Mellon had a net margin of 12.86% and a return on equity of 14.03%. The firm had revenue of $4.38 billion for the quarter. As a group, equities research analysts predict that The Bank of New York Mellon Corporation will post 6.96 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 7th. Stockholders of record on Monday, October 27th will be issued a $0.53 dividend. 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%.

Bank of New York Mellon 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.