Strs Ohio Sells 92,402 Shares of The Bank of New York Mellon Corporation $BK

Strs Ohio cut its position in The Bank of New York Mellon Corporation (NYSE:BK) by 16.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 454,728 shares of the bank’s stock after selling 92,402 shares during the quarter. Strs Ohio’s holdings in Bank of New York Mellon were worth $41,430,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Atria Investments Inc boosted its position in Bank of New York Mellon by 9.7% during the second quarter. Atria Investments Inc now owns 92,615 shares of the bank’s stock worth $8,438,000 after purchasing an additional 8,189 shares during the period. Savvy Advisors Inc. bought a new stake in shares of Bank of New York Mellon in the second quarter valued at approximately $213,000. Assetmark Inc. lifted its position in shares of Bank of New York Mellon by 101.0% during the 2nd quarter. Assetmark Inc. now owns 142,655 shares of the bank’s stock valued at $12,997,000 after acquiring an additional 71,694 shares during the period. Premier Path Wealth Partners LLC lifted its holdings in shares of Bank of New York Mellon by 3.1% during the 2nd quarter. Premier Path Wealth Partners LLC now owns 23,935 shares of the bank’s stock worth $2,181,000 after acquiring an additional 721 shares during the period. Finally, Arkadios Wealth Advisors lifted its stake in Bank of New York Mellon by 5.6% during the second quarter. Arkadios Wealth Advisors now owns 56,705 shares of the bank’s stock worth $5,166,000 after purchasing an additional 3,004 shares during the last quarter. 85.31% of the stock is currently owned by institutional investors.

Bank of New York Mellon Stock Up 0.7%

Bank of New York Mellon stock opened at $107.85 on Friday. The Bank of New York Mellon Corporation has a twelve month low of $70.46 and a twelve month high of $110.87. The firm has a 50 day moving average price of $106.58 and a 200-day moving average price of $96.50. The company has a market capitalization of $76.06 billion, a P/E ratio of 15.56, a P/E/G ratio of 0.98 and a beta of 1.13. The company has a quick ratio of 0.72, a current ratio of 0.70 and a debt-to-equity ratio of 0.83.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings data 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. As a group, equities analysts predict that The Bank of New York Mellon Corporation will post 6.96 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 7th. Stockholders of record on Monday, October 27th will be paid a dividend of $0.53 per share. The ex-dividend date is Monday, October 27th. This represents a $2.12 annualized dividend and a dividend yield of 2.0%. Bank of New York Mellon’s dividend payout ratio is presently 30.59%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. TD Cowen increased their target price on shares of 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. Weiss Ratings upgraded Bank of New York Mellon from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Friday, October 24th. Barclays lifted their price objective on Bank of New York Mellon from $104.00 to $120.00 and gave the stock an “overweight” rating in a research report on Friday, October 17th. Truist Financial lifted their price target on shares of Bank of New York Mellon from $118.00 to $119.00 and gave the company a “hold” rating in a research note on Friday, October 17th. Finally, Keefe, Bruyette & Woods boosted their price objective on Bank of New York Mellon from $120.00 to $124.00 and gave the company an “outperform” rating in a report on Friday, October 17th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, Bank of New York Mellon currently has an average rating of “Moderate Buy” and an average price target of $111.29.

Bank of New York Mellon 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.