Dimensional Fund Advisors LP Sells 232,155 Shares of The Bank of New York Mellon Corporation $BK

Dimensional Fund Advisors LP trimmed its position in The Bank of New York Mellon Corporation (NYSE:BK) by 3.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,780,057 shares of the bank’s stock after selling 232,155 shares during the quarter. Dimensional Fund Advisors LP owned approximately 0.83% of Bank of New York Mellon worth $629,832,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of BK. Westside Investment Management Inc. grew its position in 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 buying an additional 127 shares in the last quarter. Valley Wealth Managers Inc. bought a new stake in Bank of New York Mellon during the third quarter valued at approximately $33,000. Caldwell Trust Co bought a new position in shares of Bank of New York Mellon in the 2nd quarter worth $36,000. Dunhill Financial LLC increased its holdings in shares of Bank of New York Mellon by 130.8% in the 3rd quarter. Dunhill Financial LLC now owns 427 shares of the bank’s stock worth $47,000 after buying an additional 242 shares during the last quarter. Finally, Cornerstone Planning Group LLC raised its position in shares of Bank of New York Mellon by 73.2% during the 3rd quarter. Cornerstone Planning Group LLC now owns 511 shares of the bank’s stock valued at $55,000 after buying an additional 216 shares in the last quarter. 85.31% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Citigroup started coverage on Bank of New York Mellon in a report on Monday, February 23rd. They issued a “neutral” rating for the company. Weiss Ratings lowered shares of Bank of New York Mellon from a “buy (a-)” rating to a “buy (b+)” rating in a report on Friday, February 13th. Morgan Stanley upped their price target on shares of Bank of New York Mellon from $124.00 to $132.00 and gave the company an “overweight” rating in a research report on Wednesday, January 14th. Truist Financial upgraded Bank of New York Mellon from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $119.00 to $134.00 in a report on Wednesday, January 7th. Finally, Royal Bank Of Canada increased their target price on Bank of New York Mellon from $124.00 to $130.00 and gave the company a “sector perform” rating in a report on Wednesday, January 14th. Eight investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $131.92.

Bank of New York Mellon Stock Performance

Shares of BK opened at $118.01 on Wednesday. The company has a 50-day simple moving average of $119.74 and a two-hundred day simple moving average of $112.50. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.71 and a quick ratio of 0.71. The firm has a market capitalization of $81.06 billion, a PE ratio of 15.93, a price-to-earnings-growth ratio of 1.12 and a beta of 1.10. The Bank of New York Mellon Corporation has a one year low of $70.46 and a one year high of $128.76.

Bank of New York Mellon (NYSE:BK) last announced its earnings results on Friday, October 31st. The bank reported $1.91 earnings per share (EPS) for the quarter. The firm had revenue of $5.07 billion during the quarter. Bank of New York Mellon had a return on equity of 14.37% and a net margin of 13.62%. On average, analysts anticipate that The Bank of New York Mellon Corporation will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 5th. Shareholders of record on Friday, January 23rd were issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date was Friday, January 23rd. Bank of New York Mellon’s dividend payout ratio is 28.61%.

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.