The Bank of New York Mellon Corporation $BK Holdings Trimmed by Yousif Capital Management LLC

Yousif Capital Management LLC reduced its position in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 7.8% during the third quarter, Holdings Channel.com reports. The fund owned 89,519 shares of the bank’s stock after selling 7,547 shares during the quarter. Yousif Capital Management LLC’s holdings in Bank of New York Mellon were worth $9,754,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of BK. Revolve Wealth Partners LLC bought a new position in shares of Bank of New York Mellon during the 4th quarter valued at about $220,000. Northwestern Mutual Wealth Management Co. lifted its stake in Bank of New York Mellon by 170.6% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 104,037 shares of the bank’s stock valued at $8,726,000 after purchasing an additional 65,588 shares during the last quarter. Smartleaf Asset Management LLC boosted its holdings in Bank of New York Mellon by 15.5% during the first quarter. Smartleaf Asset Management LLC now owns 6,201 shares of the bank’s stock worth $513,000 after buying an additional 833 shares in the last quarter. ICONIQ Capital LLC boosted its holdings in Bank of New York Mellon by 19.5% during the first quarter. ICONIQ Capital LLC now owns 3,738 shares of the bank’s stock worth $314,000 after buying an additional 609 shares in the last quarter. Finally, Freedom Investment Management Inc. grew its position in Bank of New York Mellon by 44.9% in the first quarter. Freedom Investment Management Inc. now owns 6,899 shares of the bank’s stock worth $579,000 after buying an additional 2,137 shares during the last quarter. 85.31% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Evercore ISI raised their price objective on Bank of New York Mellon from $91.00 to $110.00 and gave the stock an “in-line” rating in a research note on Tuesday, September 30th. Keefe, Bruyette & Woods upped their target price on Bank of New York Mellon from $120.00 to $124.00 and gave the company an “outperform” rating in a report on Friday, October 17th. Morgan Stanley lifted their price target on Bank of New York Mellon from $118.00 to $124.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 17th. TD Cowen upped their price objective on shares of Bank of New York Mellon from $130.00 to $133.00 and gave the company a “buy” rating in a research note on Monday, October 20th. Finally, Wells Fargo & Company raised their target price on shares of Bank of New York Mellon from $100.00 to $109.00 and gave the stock an “equal weight” rating in a report on Friday, October 17th. Ten analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $111.86.

Bank of New York Mellon Stock Down 0.1%

NYSE:BK opened at $117.19 on Wednesday. The business’s fifty day moving average price is $110.86 and its 200 day moving average price is $104.06. The firm has a market capitalization of $81.72 billion, a price-to-earnings ratio of 16.91, a PEG ratio of 1.06 and a beta of 1.12. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.83. The Bank of New York Mellon Corporation has a 1-year low of $70.46 and a 1-year high of $119.40.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings data on Friday, October 31st. The bank reported $1.91 EPS for the quarter. The firm had revenue of $5.07 billion during the quarter. Bank of New York Mellon had a return on equity of 14.03% and a net margin of 12.86%. On average, sell-side analysts forecast 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 Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 7th. Investors of record on Monday, October 27th were given a dividend of $0.53 per share. The ex-dividend date of this dividend was Monday, October 27th. This represents a $2.12 dividend on an annualized basis and a yield of 1.8%. Bank of New York Mellon’s payout ratio is presently 30.59%.

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.