Vestmark Advisory Solutions Inc. Increases Position in The Bank of New York Mellon Corporation $BK

Vestmark Advisory Solutions Inc. lifted its position in The Bank of New York Mellon Corporation (NYSE:BK) by 286.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,707 shares of the bank’s stock after purchasing an additional 7,936 shares during the quarter. Vestmark Advisory Solutions Inc.’s holdings in Bank of New York Mellon were worth $1,167,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of BK. Revolve Wealth Partners LLC purchased a new position in Bank of New York Mellon in the 4th quarter worth $220,000. Sivia Capital Partners LLC grew its position in Bank of New York Mellon by 36.6% during the 2nd quarter. Sivia Capital Partners LLC now owns 3,394 shares of the bank’s stock worth $309,000 after acquiring an additional 909 shares during the last quarter. Ignite Planners LLC purchased a new position in Bank of New York Mellon in the 2nd quarter worth approximately $240,000. Focus Partners Advisor Solutions LLC lifted its position in Bank of New York Mellon by 29.4% in the second quarter. Focus Partners Advisor Solutions LLC now owns 9,911 shares of the bank’s stock valued at $902,000 after purchasing an additional 2,252 shares during the last quarter. Finally, Brighton Jones LLC boosted its stake in shares of Bank of New York Mellon by 17.4% during the second quarter. Brighton Jones LLC now owns 7,576 shares of the bank’s stock valued at $690,000 after purchasing an additional 1,125 shares during the period. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Stock Performance

Bank of New York Mellon stock opened at $120.26 on Thursday. The Bank of New York Mellon Corporation has a fifty-two week low of $70.46 and a fifty-two week high of $128.76. The stock has a market cap of $83.86 billion, a price-to-earnings ratio of 16.23, a PEG ratio of 1.09 and a beta of 1.10. The stock’s 50 day simple moving average is $119.48 and its two-hundred day simple moving average is $111.96. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.70 and a current ratio of 0.71.

Bank of New York Mellon (NYSE:BK) last released its earnings results on Friday, October 31st. The bank reported $1.91 EPS for the quarter. The company 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%. As a group, analysts expect 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 announced a quarterly dividend, which was paid on Thursday, February 5th. Stockholders of record on Friday, January 23rd were issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date was Friday, January 23rd. Bank of New York Mellon’s payout ratio is 28.61%.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Citigroup assumed coverage on shares of Bank of New York Mellon in a research note on Monday. They issued a “neutral” rating on the stock. Morgan Stanley boosted their price objective 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. 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. Royal Bank Of Canada boosted their price target 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. Finally, Wells Fargo & Company increased their price objective on Bank of New York Mellon from $119.00 to $122.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 14th. Eight investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $131.92.

Bank of New York Mellon Company 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.