Vectors Research Management LLC Purchases Shares of 12,887 The Bank of New York Mellon Corporation $BK

Vectors Research Management LLC acquired a new position in shares of The Bank of New York Mellon Corporation (NYSE:BK) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 12,887 shares of the bank’s stock, valued at approximately $1,404,000.

Several other hedge funds also recently modified their holdings of BK. Investment Management Corp of Ontario lifted its holdings in shares of Bank of New York Mellon by 25.9% in the 2nd quarter. Investment Management Corp of Ontario now owns 125,506 shares of the bank’s stock worth $11,435,000 after purchasing an additional 25,842 shares in the last quarter. Permanent Capital Management LP bought a new position in shares of Bank of New York Mellon in the third quarter valued at $2,262,000. First Horizon Corp bought a new position in shares of Bank of New York Mellon in the third quarter valued at $22,072,000. Robeco Institutional Asset Management B.V. grew its holdings in shares of Bank of New York Mellon by 36.4% during the third quarter. Robeco Institutional Asset Management B.V. now owns 2,166,052 shares of the bank’s stock valued at $236,013,000 after buying an additional 577,621 shares during the last quarter. Finally, Highland Capital Management LLC acquired a new position in shares of Bank of New York Mellon during the third quarter valued at about $1,639,000. Institutional investors own 85.31% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Evercore ISI raised their price target on shares of Bank of New York Mellon from $91.00 to $110.00 and gave the company an “in-line” rating in a research report on Tuesday, September 30th. 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 research note on Wednesday. TD Cowen lifted their target price on Bank of New York Mellon from $133.00 to $145.00 and gave the company a “buy” rating in a research report on Wednesday, January 7th. BMO Capital Markets assumed coverage on Bank of New York Mellon in a research report on Friday, October 3rd. They issued an “outperform” rating and a $125.00 price target for the company. Finally, Keefe, Bruyette & Woods raised their price objective on Bank of New York Mellon from $132.00 to $143.00 and gave the company an “outperform” rating in a research note on Wednesday. Nine research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Bank of New York Mellon currently has an average rating of “Moderate Buy” and an average target price of $129.00.

Bank of New York Mellon Stock Performance

BK stock opened at $121.34 on Friday. The company has a quick ratio of 0.70, a current ratio of 0.71 and a debt-to-equity ratio of 0.81. The firm has a market cap of $84.62 billion, a PE ratio of 16.38, a P/E/G ratio of 1.16 and a beta of 1.11. The business has a 50 day moving average of $115.07 and a 200-day moving average of $107.51. The Bank of New York Mellon Corporation has a 12-month low of $70.46 and a 12-month high of $125.89.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings results on Friday, October 31st. The bank reported $1.91 EPS for the quarter. The business had revenue of $5.07 billion for 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, sell-side analysts expect that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 5th. Investors of record on Friday, January 23rd will be issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, January 23rd. Bank of New York Mellon’s payout ratio is 28.61%.

Bank of New York Mellon 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.