CPC Advisors LLC Makes New $1.95 Million Investment in The Bank of New York Mellon Corporation $BK

CPC Advisors LLC acquired a new stake in The Bank of New York Mellon Corporation (NYSE:BK) in the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 17,917 shares of the bank’s stock, valued at approximately $1,952,000.

Several other large investors also recently modified their holdings of the stock. GRIMES & Co WEALTH MANAGEMENT LLC lifted its position in Bank of New York Mellon by 466.6% during the third quarter. GRIMES & Co WEALTH MANAGEMENT LLC now owns 35,178 shares of the bank’s stock worth $3,833,000 after purchasing an additional 28,969 shares during the period. Nordea Investment Management AB increased its holdings in Bank of New York Mellon by 10.2% in the 3rd quarter. Nordea Investment Management AB now owns 68,579 shares of the bank’s stock valued at $7,483,000 after buying an additional 6,357 shares during the period. ZEGA Investments LLC acquired a new position in shares of Bank of New York Mellon in the 3rd quarter valued at approximately $1,050,000. Tokio Marine Asset Management Co. Ltd. lifted its holdings in shares of Bank of New York Mellon by 0.5% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 23,450 shares of the bank’s stock worth $2,555,000 after acquiring an additional 115 shares during the period. Finally, Gradient Capital Advisors LLC acquired a new stake in shares of Bank of New York Mellon during the 3rd quarter worth approximately $650,000. 85.31% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BK has been the subject of several research analyst reports. The Goldman Sachs Group boosted their price objective on shares of Bank of New York Mellon from $106.00 to $120.00 and gave the company a “buy” rating in a research report on Monday, October 6th. Barclays boosted their price target on Bank of New York Mellon from $120.00 to $143.00 and gave the stock an “overweight” rating in a report on Monday, January 5th. Keefe, Bruyette & Woods upped their price objective 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. Truist Financial upgraded Bank of New York Mellon from a “hold” rating to a “buy” rating and lifted their target price for the company from $119.00 to $134.00 in a research report on Wednesday, January 7th. Finally, Morgan Stanley increased their target price on shares of Bank of New York Mellon from $118.00 to $124.00 and gave the stock an “overweight” rating in a report on Wednesday, December 17th. Eleven investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $115.43.

Bank of New York Mellon Price Performance

Shares of BK opened at $120.66 on Tuesday. The stock has a market cap of $84.14 billion, a PE ratio of 17.41, a PEG ratio of 0.92 and a beta of 1.11. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.83. The business has a 50-day simple moving average of $113.92 and a two-hundred day simple moving average of $106.84. The Bank of New York Mellon Corporation has a 12-month low of $70.46 and a 12-month high of $122.36.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings data on Friday, October 31st. The bank reported $1.91 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 company had revenue of $5.07 billion during the quarter. 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 declared a quarterly dividend, which was paid on Friday, November 7th. Stockholders of record on Monday, October 27th were paid a dividend of $0.53 per share. The ex-dividend date of this dividend was Monday, October 27th. This represents a $2.12 annualized dividend and a dividend yield of 1.8%. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 30.59%.

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.