Oregon Public Employees Retirement Fund Buys 18,872 Shares of The Bank of New York Mellon Corporation $BK

Oregon Public Employees Retirement Fund grew its stake in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 30.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 80,630 shares of the bank’s stock after purchasing an additional 18,872 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Bank of New York Mellon were worth $8,785,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of BK. Investment Management Corp of Ontario boosted its holdings in shares of Bank of New York Mellon by 25.9% during the 2nd quarter. Investment Management Corp of Ontario now owns 125,506 shares of the bank’s stock valued at $11,435,000 after buying an additional 25,842 shares in the last quarter. Permanent Capital Management LP bought a new position in shares of Bank of New York Mellon in the 3rd quarter worth about $2,262,000. Highland Capital Management LLC purchased a new position in Bank of New York Mellon during the 3rd quarter valued at about $1,639,000. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Bank of New York Mellon by 150.5% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 85,654 shares of the bank’s stock worth $7,804,000 after acquiring an additional 51,457 shares in the last quarter. Finally, OFI Invest Asset Management boosted its stake in Bank of New York Mellon by 826.0% during the third quarter. OFI Invest Asset Management now owns 206,964 shares of the bank’s stock worth $22,551,000 after acquiring an additional 184,614 shares in the last quarter. 85.31% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on BK shares. Wells Fargo & Company lifted their target price on shares of Bank of New York Mellon from $100.00 to $109.00 and gave the company an “equal weight” rating in a report on Friday, October 17th. Weiss Ratings reaffirmed a “buy (b+)” rating on shares of Bank of New York Mellon in a research report on Monday, December 29th. Morgan Stanley lifted their price objective on Bank of New York Mellon from $118.00 to $124.00 and gave the company an “overweight” rating in a research note on Wednesday, December 17th. Truist Financial raised Bank of New York Mellon from a “hold” rating to a “buy” rating and boosted their target price for the stock from $119.00 to $134.00 in a report on Wednesday. Finally, Evercore ISI raised their price target on Bank of New York Mellon from $91.00 to $110.00 and gave the company an “in-line” rating in a report on Tuesday, September 30th. Eleven research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $115.43.

Bank of New York Mellon Stock Performance

BK stock opened at $119.03 on Friday. The stock has a market capitalization of $83.01 billion, a PE ratio of 17.18, a price-to-earnings-growth ratio of 0.93 and a beta of 1.11. The Bank of New York Mellon Corporation has a 12-month low of $70.46 and a 12-month high of $122.36. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.83. The stock’s 50 day simple moving average is $113.67 and its 200 day simple moving average is $106.40.

Bank of New York Mellon (NYSE:BK) last posted its earnings results on Friday, October 31st. The bank reported $1.91 EPS for the quarter. The business had revenue of $5.07 billion during 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, research analysts forecast 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 Announces Dividend

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

About Bank of New York Mellon

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.