National Pension Service Acquires 61,718 Shares of The Bank of New York Mellon Corporation $BK

National Pension Service lifted its stake in The Bank of New York Mellon Corporation (NYSE:BK) by 3.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,053,278 shares of the bank’s stock after acquiring an additional 61,718 shares during the period. National Pension Service owned 0.29% of Bank of New York Mellon worth $223,725,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Valeo Financial Advisors LLC boosted its position in shares of Bank of New York Mellon by 1.3% in the 3rd quarter. Valeo Financial Advisors LLC now owns 7,539 shares of the bank’s stock worth $821,000 after purchasing an additional 94 shares in the last quarter. Ferguson Wellman Capital Management Inc. increased its position in Bank of New York Mellon by 0.4% during the 3rd quarter. Ferguson Wellman Capital Management Inc. now owns 24,752 shares of the bank’s stock valued at $2,697,000 after buying an additional 96 shares in the last quarter. Leonard Rickey Investment Advisors P.L.L.C. raised its stake in Bank of New York Mellon by 1.9% in the third quarter. Leonard Rickey Investment Advisors P.L.L.C. now owns 5,192 shares of the bank’s stock valued at $566,000 after buying an additional 98 shares during the last quarter. Tiemann Investment Advisors LLC boosted its holdings in Bank of New York Mellon by 2.9% in the second quarter. Tiemann Investment Advisors LLC now owns 3,492 shares of the bank’s stock worth $318,000 after acquiring an additional 100 shares in the last quarter. Finally, Cary Street Partners Investment Advisory LLC boosted its holdings in Bank of New York Mellon by 13.7% in the second quarter. Cary Street Partners Investment Advisory LLC now owns 828 shares of the bank’s stock worth $75,000 after acquiring an additional 100 shares in the last quarter. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Price Performance

Shares of NYSE BK opened at $119.84 on Friday. The firm has a 50-day simple moving average of $117.20 and a 200-day simple moving average of $109.48. 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 stock has a market capitalization of $83.57 billion, a price-to-earnings ratio of 16.17, a price-to-earnings-growth ratio of 1.13 and a beta of 1.11. The Bank of New York Mellon Corporation has a 52 week low of $70.46 and a 52 week high of $125.89.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings results on Friday, October 31st. The bank reported $1.91 earnings per share (EPS) for the quarter. The business 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%. On average, equities 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 business also recently announced a quarterly dividend, which will be paid on Thursday, February 5th. Shareholders of record on Friday, January 23rd will be paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Friday, January 23rd. Bank of New York Mellon’s dividend payout ratio (DPR) is 28.61%.

Analyst Ratings Changes

A number of research analysts have issued reports on BK shares. Barclays raised their price target 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. TD Cowen raised their target price on 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. 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 research note on Wednesday, January 14th. The Goldman Sachs Group increased their price objective on Bank of New York Mellon from $106.00 to $120.00 and gave the company a “buy” rating in a report on Monday, October 6th. Finally, Truist Financial raised Bank of New York Mellon from a “hold” rating to a “buy” rating and lifted their target price for the stock from $119.00 to $134.00 in a report on Wednesday, January 7th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus 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.