Y Intercept Hong Kong Ltd Has $1.38 Million Holdings in The Bank of New York Mellon Corporation $BK

Y Intercept Hong Kong Ltd lifted its position in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 62.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,092 shares of the bank’s stock after purchasing an additional 5,818 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Bank of New York Mellon were worth $1,375,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Hoey Investments Inc. acquired a new stake in shares of Bank of New York Mellon during the 2nd quarter worth approximately $32,000. Orion Capital Management LLC acquired a new stake in shares of Bank of New York Mellon during the 1st quarter worth approximately $32,000. Cornerstone Planning Group LLC lifted its position in shares of Bank of New York Mellon by 100.0% during the 1st quarter. Cornerstone Planning Group LLC now owns 392 shares of the bank’s stock worth $30,000 after buying an additional 196 shares during the period. GFG Capital LLC bought a new position in shares of Bank of New York Mellon during the 2nd quarter worth approximately $36,000. Finally, McClarren Financial Advisors Inc. bought a new position in shares of Bank of New York Mellon during the 1st quarter worth approximately $34,000. Institutional investors and hedge funds own 85.31% of the company’s stock.

Bank of New York Mellon Trading Up 0.1%

Shares of BK opened at $107.99 on Monday. The stock has a fifty day moving average price of $106.69 and a two-hundred day moving average price of $96.99. 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 52-week low of $70.46 and a 52-week high of $110.87. The company has a market cap of $76.16 billion, a price-to-earnings ratio of 15.58, a PEG ratio of 0.98 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 earnings per share (EPS) for the quarter. Bank of New York Mellon had a return on equity of 14.03% and a net margin of 12.86%.The firm had revenue of $4.38 billion during the quarter. 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 firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 7th. Shareholders of record on Monday, October 27th will be given a $0.53 dividend. 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 payout ratio is presently 30.59%.

Wall Street Analyst Weigh In

Several research firms recently commented on BK. Morgan Stanley raised 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. Wells Fargo & Company raised their target price on Bank of New York Mellon from $100.00 to $109.00 and gave the stock an “equal weight” rating in a research 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 research report on Friday, October 24th. Keefe, Bruyette & Woods raised their target price on Bank of New York Mellon from $120.00 to $124.00 and gave the stock an “outperform” rating in a research report on Friday, October 17th. Finally, BMO Capital Markets began 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. One research 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. According to data from MarketBeat, the company has a consensus 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.