Grantham Mayo Van Otterloo & Co. LLC Trims Holdings in The Bank of New York Mellon Corporation $BK

Grantham Mayo Van Otterloo & Co. LLC reduced its holdings in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 26.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 91,795 shares of the bank’s stock after selling 32,367 shares during the period. Grantham Mayo Van Otterloo & Co. LLC’s holdings in Bank of New York Mellon were worth $10,002,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Valley Wealth Managers Inc. bought a new position in shares of Bank of New York Mellon during the third quarter valued at approximately $33,000. Caldwell Trust Co bought a new position in Bank of New York Mellon during the 2nd quarter valued at approximately $36,000. Westside Investment Management Inc. raised its stake in 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 buying an additional 127 shares during the last quarter. Dunhill Financial LLC boosted its holdings in Bank of New York Mellon by 130.8% in the third quarter. Dunhill Financial LLC now owns 427 shares of the bank’s stock worth $47,000 after acquiring an additional 242 shares in the last quarter. Finally, Cornerstone Planning Group LLC grew its stake in shares of Bank of New York Mellon by 73.2% in the third quarter. Cornerstone Planning Group LLC now owns 511 shares of the bank’s stock worth $55,000 after acquiring an additional 216 shares during the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on BK shares. Barclays lifted their price target on Bank of New York Mellon from $120.00 to $143.00 and gave the stock an “overweight” rating in a research report on Monday, January 5th. Weiss Ratings downgraded shares of Bank of New York Mellon from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Friday, February 13th. Citigroup started coverage on shares of Bank of New York Mellon in a research report on Monday, February 23rd. They set a “neutral” rating for the company. Truist Financial raised Bank of New York Mellon from a “hold” rating to a “buy” rating and upped their price objective for the company from $119.00 to $134.00 in a research report on Wednesday, January 7th. Finally, New Street Research set a $143.00 target price on Bank of New York Mellon in a report on Wednesday, January 14th. Eight analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $131.92.

Bank of New York Mellon Stock Down 0.0%

BK opened at $115.18 on Tuesday. The stock has a market capitalization of $79.27 billion, a price-to-earnings ratio of 15.54, a PEG ratio of 1.08 and a beta of 1.10. The firm has a 50 day moving average price of $119.65 and a 200-day moving average price of $112.92. The Bank of New York Mellon Corporation has a twelve month low of $70.46 and a twelve month high of $128.76. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.81.

Bank of New York Mellon (NYSE:BK) last posted its earnings results on Friday, October 31st. The bank reported $1.91 EPS for the quarter. The business had revenue of $5.07 billion during 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 given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date was Friday, January 23rd. Bank of New York Mellon’s dividend 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.