Teachers Retirement System of The State of Kentucky Acquires 102,000 Shares of The Bank of New York Mellon Corporation $BK

Teachers Retirement System of The State of Kentucky increased its holdings in The Bank of New York Mellon Corporation (NYSE:BK) by 74.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 238,774 shares of the bank’s stock after acquiring an additional 102,000 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Bank of New York Mellon were worth $26,017,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Valeo Financial Advisors LLC lifted its holdings in shares of Bank of New York Mellon by 1.3% during the third quarter. Valeo Financial Advisors LLC now owns 7,539 shares of the bank’s stock valued at $821,000 after purchasing an additional 94 shares during 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% during 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 grew its stake in shares of 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 during the last quarter. Institutional investors own 85.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Truist Financial upgraded shares of Bank of New York Mellon from a “hold” rating to a “buy” rating and upped their price target for the stock from $119.00 to $134.00 in a research note on Wednesday, January 7th. New Street Research set a $143.00 target price on shares of Bank of New York Mellon in a report on Wednesday, January 14th. Wells Fargo & Company upped their target price on shares of 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, January 14th. Citigroup started coverage on shares of Bank of New York Mellon in a report on Monday, February 23rd. They issued a “neutral” rating for the company. Finally, Barclays upped their price objective 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. Eight analysts have rated the stock with a Buy rating and four have assigned 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 target price of $131.92.

Bank of New York Mellon Stock Up 0.4%

BK opened at $119.57 on Tuesday. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.81. The firm has a 50 day moving average price of $119.72 and a 200-day moving average price of $112.38. The Bank of New York Mellon Corporation has a twelve month low of $70.46 and a twelve month high of $128.76. The stock has a market capitalization of $82.14 billion, a price-to-earnings ratio of 16.14, a PEG ratio of 1.11 and a beta of 1.10.

Bank of New York Mellon (NYSE:BK) last issued its earnings results on Friday, October 31st. The bank reported $1.91 earnings per share (EPS) for the quarter. The company had revenue of $5.07 billion for the quarter. Bank of New York Mellon had a net margin of 13.62% and a return on equity of 14.37%. Equities research 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 5th. Investors of record on Friday, January 23rd were issued a $0.53 dividend. 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 presently 28.61%.

About Bank of New York Mellon

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.