Impax Asset Management Group plc Has $10.35 Million Holdings in The Bank of New York Mellon Corporation $BK

Impax Asset Management Group plc raised its position in The Bank of New York Mellon Corporation (NYSE:BK) by 167.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 113,589 shares of the bank’s stock after purchasing an additional 71,079 shares during the quarter. Impax Asset Management Group plc’s holdings in Bank of New York Mellon were worth $10,349,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Westside Investment Management Inc. lifted its position in Bank of New York Mellon by 78.9% during the 2nd quarter. Westside Investment Management Inc. now owns 288 shares of the bank’s stock worth $26,000 after buying an additional 127 shares in the last quarter. Hoey Investments Inc. acquired a new position in shares of Bank of New York Mellon in the second quarter valued at about $32,000. Orion Capital Management LLC acquired a new stake in Bank of New York Mellon during the first quarter worth approximately $32,000. GFG Capital LLC acquired a new stake in shares of Bank of New York Mellon in the 2nd quarter valued at $36,000. Finally, McClarren Financial Advisors Inc. acquired a new stake in shares of Bank of New York Mellon in the 1st quarter valued at approximately $34,000. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Trading Down 1.5%

BK opened at $110.99 on Friday. The business has a 50 day simple moving average of $107.57 and a two-hundred day simple moving average of $98.77. The Bank of New York Mellon Corporation has a one year low of $70.46 and a one year high of $113.74. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.70 and a quick ratio of 0.72. The firm has a market capitalization of $77.40 billion, a price-to-earnings ratio of 16.02, 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 EPS for the quarter. The business had revenue of $4.38 billion during the quarter. Bank of New York Mellon had a net margin of 12.86% and a return on equity of 14.03%. Analysts predict that The Bank of New York Mellon Corporation will post 6.96 EPS for the current year.

Bank of New York Mellon Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 7th. Investors of record on Monday, October 27th were paid a $0.53 dividend. The ex-dividend date was Monday, October 27th. This represents a $2.12 dividend on an annualized basis and a yield of 1.9%. Bank of New York Mellon’s payout ratio is presently 30.59%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on BK. Morgan Stanley increased their price objective on shares of 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. Weiss Ratings downgraded Bank of New York Mellon from a “buy (a-)” rating to a “buy (b)” rating in a research note on Friday, November 7th. The Goldman Sachs Group boosted their target price on Bank of New York Mellon from $106.00 to $120.00 and gave the stock a “buy” rating in a research note on Monday, October 6th. Barclays upped their price target 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. Finally, Truist Financial boosted their price objective on Bank of New York Mellon from $118.00 to $119.00 and gave the company a “hold” rating in a research note on Friday, October 17th. Ten analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $111.29.

About Bank of New York Mellon

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.