Orion Porfolio Solutions LLC Lowers Stake in The Bank of New York Mellon Corporation $BK

Orion Porfolio Solutions LLC cut its stake in The Bank of New York Mellon Corporation (NYSE:BK) by 26.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 27,004 shares of the bank’s stock after selling 9,714 shares during the period. Orion Porfolio Solutions LLC’s holdings in Bank of New York Mellon were worth $2,942,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Valley Wealth Managers Inc. bought a new position in Bank of New York Mellon in the 3rd quarter worth about $33,000. Caldwell Trust Co purchased a new stake in shares of Bank of New York Mellon in the second quarter valued at approximately $36,000. Westside Investment Management Inc. boosted its holdings in shares of Bank of New York Mellon by 44.1% in the third quarter. Westside Investment Management Inc. now owns 415 shares of the bank’s stock valued at $45,000 after purchasing an additional 127 shares during the period. Dunhill Financial LLC grew its stake in Bank of New York Mellon by 130.8% in the third quarter. Dunhill Financial LLC now owns 427 shares of the bank’s stock worth $47,000 after purchasing an additional 242 shares in the last quarter. Finally, Twin Peaks Wealth Advisors LLC bought a new position in Bank of New York Mellon in the second quarter worth approximately $52,000. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Trading Down 0.0%

Shares of NYSE:BK opened at $115.18 on Tuesday. The company has a market capitalization of $79.27 billion, a PE ratio of 15.54, a P/E/G ratio of 1.08 and a beta of 1.10. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.81. The Bank of New York Mellon Corporation has a 12-month low of $70.46 and a 12-month high of $128.76. The business’s fifty day simple moving average is $119.65 and its 200-day simple moving average is $112.92.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings data on Friday, October 31st. The bank reported $1.91 earnings per share for the quarter. Bank of New York Mellon had a return on equity of 14.37% and a net margin of 13.62%.The firm had revenue of $5.07 billion during the quarter. As a group, equities research analysts predict 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 company also recently declared a quarterly dividend, which was paid on Thursday, February 5th. Shareholders of record on Friday, January 23rd were given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend was Friday, January 23rd. Bank of New York Mellon’s dividend payout ratio is presently 28.61%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on BK shares. Royal Bank Of Canada lifted 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 research report on Wednesday, January 14th. Keefe, Bruyette & Woods increased their price target on Bank of New York Mellon from $132.00 to $143.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 14th. Wells Fargo & Company raised their price target on Bank of New York Mellon from $119.00 to $122.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 14th. TD Cowen upped their price objective on shares of Bank of New York Mellon from $133.00 to $145.00 and gave the stock a “buy” rating in a research note on Wednesday, January 7th. Finally, Barclays increased their target price on shares of 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. Eight analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $131.92.

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.