The Bank of New York Mellon Corporation $BK Shares Sold by Personal CFO Solutions LLC

Personal CFO Solutions LLC cut its stake in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 41.2% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 4,185 shares of the bank’s stock after selling 2,935 shares during the period. Personal CFO Solutions LLC’s holdings in Bank of New York Mellon were worth $381,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Westside Investment Management Inc. lifted its position in shares of Bank of New York Mellon by 78.9% during the second quarter. Westside Investment Management Inc. now owns 288 shares of the bank’s stock worth $26,000 after purchasing an additional 127 shares in the last quarter. Hoey Investments Inc. purchased a new stake in Bank of New York Mellon during the 2nd quarter worth $32,000. Orion Capital Management LLC purchased a new stake in Bank of New York Mellon during the 1st quarter worth $32,000. GFG Capital LLC acquired a new position in Bank of New York Mellon in the 2nd quarter worth $36,000. Finally, McClarren Financial Advisors Inc. purchased a new position in Bank of New York Mellon in the 1st quarter valued at about $34,000. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Trading Up 0.1%

Shares of NYSE BK opened at $106.54 on Friday. The company has a quick ratio of 0.72, a current ratio of 0.70 and a debt-to-equity ratio of 0.83. The stock’s 50 day moving average price is $107.91 and its two-hundred day moving average price is $100.01. The Bank of New York Mellon Corporation has a 52-week low of $70.46 and a 52-week high of $113.74. The stock has a market capitalization of $74.30 billion, a P/E ratio of 15.37, a PEG ratio of 0.98 and a beta of 1.13.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings results on Tuesday, March 26th. The bank reported $1.30 earnings per share for the quarter. Bank of New York Mellon had a return on equity of 14.03% and a net margin of 12.86%.The business had revenue of $4.38 billion during the quarter. On average, analysts anticipate 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 was paid on Friday, November 7th. Shareholders of record on Monday, October 27th were issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend was Monday, October 27th. Bank of New York Mellon’s dividend payout ratio is 30.59%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on BK. 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 on the stock. Barclays raised their price objective on 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. TD Cowen upped their target price 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. Wells Fargo & Company increased their target price on Bank of New York Mellon from $100.00 to $109.00 and gave the company an “equal weight” rating in a research note on Friday, October 17th. Finally, Evercore ISI raised their price target on shares of Bank of New York Mellon from $91.00 to $110.00 and gave the stock an “in-line” rating in a research report on Tuesday, September 30th. Ten research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.