The Bank of New York Mellon Corporation $BK Holdings Lifted by USA Financial Formulas

USA Financial Formulas increased its holdings in The Bank of New York Mellon Corporation (NYSE:BK) by 10,831.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,179 shares of the bank’s stock after acquiring an additional 16,031 shares during the period. Bank of New York Mellon comprises about 0.3% of USA Financial Formulas’ holdings, making the stock its 26th largest holding. USA Financial Formulas’ holdings in Bank of New York Mellon were worth $1,763,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Westside Investment Management Inc. lifted its position in shares of Bank of New York Mellon by 78.9% in 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. Orion Capital Management LLC acquired a new position in Bank of New York Mellon in the 1st quarter valued at approximately $32,000. Hoey Investments Inc. purchased a new stake in Bank of New York Mellon in the 2nd quarter worth approximately $32,000. GFG Capital LLC acquired a new stake in shares of Bank of New York Mellon during the 2nd quarter valued at $36,000. Finally, Caldwell Trust Co purchased a new position in shares of Bank of New York Mellon during the 2nd quarter valued at $36,000. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Bank of New York Mellon Stock Performance

Shares of BK opened at $115.79 on Friday. The company has a market capitalization of $80.74 billion, a PE ratio of 16.71, a price-to-earnings-growth ratio of 1.05 and a beta of 1.12. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.70 and a quick 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 $119.40. The company’s fifty day moving average price is $110.43 and its 200 day moving average price is $103.56.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings results on Friday, October 31st. The bank reported $1.91 earnings per share (EPS) for the quarter. The company had revenue of $5.07 billion for the quarter. Bank of New York Mellon had a return on equity of 14.03% and a net margin of 12.86%. As a group, analysts expect that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 7th. Shareholders of record on Monday, October 27th were issued a $0.53 dividend. The ex-dividend date of this dividend was Monday, October 27th. This represents a $2.12 annualized dividend and a yield of 1.8%. Bank of New York Mellon’s dividend payout ratio is 30.59%.

Wall Street Analysts Forecast Growth

BK has been the subject of several recent research reports. The Goldman Sachs Group increased their price objective on Bank of New York Mellon from $106.00 to $120.00 and gave the stock a “buy” rating in a report on Monday, October 6th. Evercore ISI upped their target price on 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. Morgan Stanley raised their price target on Bank of New York Mellon from $118.00 to $124.00 and gave the stock an “overweight” rating in a research note on Wednesday. Keefe, Bruyette & Woods boosted their price target on Bank of New York Mellon from $120.00 to $124.00 and gave the company an “outperform” rating in a research note on Friday, October 17th. Finally, TD Cowen increased their price objective on Bank of New York Mellon from $130.00 to $133.00 and gave the stock a “buy” rating in a report on Monday, October 20th. Ten analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, Bank of New York Mellon presently has an average rating of “Moderate Buy” and a consensus price target of $111.86.

Bank of New York Mellon Profile

Bank of New York Mellon Corporation (BNY Mellon) is a global financial services company headquartered in New York City that provides a wide range of asset servicing, custody, and related financial infrastructure solutions to institutional clients. Its core businesses include custody and asset servicing, clearing and collateral management, treasury services, securities lending, corporate trust services, and depositary receipt administration. The company also offers investment management and advisory services through its asset management arm and provides technology-enabled solutions for trade processing, foreign exchange, and liquidity management.

BNY Mellon serves a broad client base that includes asset managers, pension funds, corporations, banks, broker-dealers and sovereign entities.