The Bank of New York Mellon Corporation $BK Shares Sold by Cannell & Spears LLC

Cannell & Spears LLC lowered its stake in The Bank of New York Mellon Corporation (NYSE:BK) by 3.0% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 321,624 shares of the bank’s stock after selling 9,915 shares during the quarter. Cannell & Spears LLC’s holdings in Bank of New York Mellon were worth $35,044,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of BK. Valley Wealth Managers Inc. purchased a new position in Bank of New York Mellon during the third quarter worth $33,000. Caldwell Trust Co purchased a new stake in shares of Bank of New York Mellon in the second quarter valued at $36,000. Westside Investment Management Inc. boosted its stake in shares of Bank of New York Mellon by 44.1% during the third quarter. Westside Investment Management Inc. now owns 415 shares of the bank’s stock valued at $45,000 after acquiring an additional 127 shares during the last quarter. Dunhill Financial LLC boosted its stake in shares of Bank of New York Mellon by 130.8% during the third quarter. Dunhill Financial LLC now owns 427 shares of the bank’s stock valued at $47,000 after acquiring an additional 242 shares during the last quarter. Finally, Community Bank N.A. increased its position in Bank of New York Mellon by 250.4% during the 3rd quarter. Community Bank N.A. now owns 438 shares of the bank’s stock worth $48,000 after purchasing an additional 313 shares in the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Bank of New York Mellon Trading Down 0.8%

Shares of BK stock opened at $116.18 on Friday. The firm’s 50-day simple moving average is $119.65 and its 200-day simple moving average is $113.22. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.71 and a quick ratio of 0.71. The Bank of New York Mellon Corporation has a 1-year low of $70.46 and a 1-year high of $128.76. The firm has a market cap of $79.96 billion, a P/E ratio of 15.68, a PEG ratio of 1.08 and a beta of 1.10.

Bank of New York Mellon (NYSE:BK) last released its earnings results on Friday, October 31st. The bank reported $1.91 earnings per share (EPS) for the quarter. Bank of New York Mellon had a net margin of 13.62% and a return on equity of 14.37%. The firm 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 EPS for the current year.

Bank of New York Mellon Announces Dividend

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

Analysts Set New Price Targets

Several research analysts recently weighed in on BK shares. Royal Bank Of Canada boosted their target price on shares of 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. Truist Financial upgraded shares of Bank of New York Mellon from a “hold” rating to a “buy” rating and lifted their price target for the stock from $119.00 to $134.00 in a report on Wednesday, January 7th. Weiss Ratings raised shares of Bank of New York Mellon from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Wednesday. Keefe, Bruyette & Woods upped their price objective on shares of Bank of New York Mellon from $132.00 to $143.00 and gave the company an “outperform” rating in a research note 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 on the stock. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Bank of New York Mellon currently has a consensus rating of “Moderate Buy” and a consensus price target 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.