US Bancorp DE Sells 10,395 Shares of The Bank of New York Mellon Corporation $BK

US Bancorp DE trimmed its holdings in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 5.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 196,996 shares of the bank’s stock after selling 10,395 shares during the quarter. US Bancorp DE’s holdings in Bank of New York Mellon were worth $21,465,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BK. Empirical Asset Management LLC bought a new stake in shares of Bank of New York Mellon in the 3rd quarter valued at approximately $2,301,000. MAI Capital Management raised its holdings in Bank of New York Mellon by 2.0% during the 3rd quarter. MAI Capital Management now owns 78,100 shares of the bank’s stock valued at $8,510,000 after buying an additional 1,552 shares during the period. RWA Wealth Partners LLC lifted its position in Bank of New York Mellon by 2.0% in the third quarter. RWA Wealth Partners LLC now owns 13,071 shares of the bank’s stock worth $1,424,000 after buying an additional 259 shares during the last quarter. Waddell & Associates LLC bought a new stake in Bank of New York Mellon in the third quarter worth $205,000. Finally, Affinity Investment Advisors LLC boosted its stake in Bank of New York Mellon by 15.6% during the third quarter. Affinity Investment Advisors LLC now owns 13,155 shares of the bank’s stock worth $1,433,000 after buying an additional 1,780 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 $118.83 on Friday. 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 company has a market capitalization of $81.62 billion, a PE ratio of 16.04, a P/E/G ratio of 1.14 and a beta of 1.10. The company has a 50 day moving average price of $119.68 and a 200-day moving average price of $112.13. 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 issued its earnings results 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 business had revenue of $5.07 billion during the quarter. As a group, equities analysts forecast that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

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

Analyst Ratings Changes

Several equities research analysts have recently issued reports on BK shares. TD Cowen raised their target price on shares of Bank of New York Mellon from $133.00 to $145.00 and gave the stock a “buy” rating in a report on Wednesday, January 7th. Royal Bank Of Canada raised their price objective on shares of Bank of New York Mellon from $124.00 to $130.00 and gave the stock a “sector perform” rating in a research note on Wednesday, January 14th. Barclays boosted their target price on Bank of New York Mellon from $120.00 to $143.00 and gave the company an “overweight” rating in a research report on Monday, January 5th. New Street Research set a $143.00 price target on Bank of New York Mellon in a report on Wednesday, January 14th. Finally, Citigroup began coverage on Bank of New York Mellon in a research note on Monday, February 23rd. They set a “neutral” rating for the company. Eight investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus 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.