The Bank of New York Mellon Corporation $BK Shares Sold by Fox Run Management L.L.C.

Fox Run Management L.L.C. lessened its holdings in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 55.2% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 9,712 shares of the bank’s stock after selling 11,969 shares during the period. Fox Run Management L.L.C.’s holdings in Bank of New York Mellon were worth $1,058,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. Westside Investment Management Inc. increased its stake in Bank of New York Mellon by 78.9% in the second quarter. Westside Investment Management Inc. now owns 288 shares of the bank’s stock valued at $26,000 after purchasing an additional 127 shares during the last quarter. Valley Wealth Managers Inc. acquired a new position in shares of Bank of New York Mellon in the 3rd quarter valued at $33,000. Caldwell Trust Co purchased a new position in shares of Bank of New York Mellon in the 2nd quarter valued at $36,000. Quaker Wealth Management LLC grew its position in shares of Bank of New York Mellon by 198.9% in the 2nd quarter. Quaker Wealth Management LLC now owns 450 shares of the bank’s stock valued at $41,000 after buying an additional 905 shares during the last quarter. Finally, Cornerstone Planning Group LLC raised its stake in Bank of New York Mellon by 73.2% during the 3rd quarter. Cornerstone Planning Group LLC now owns 511 shares of the bank’s stock worth $55,000 after acquiring an additional 216 shares in the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Analysts Set New Price Targets

BK has been the subject of several research analyst reports. Truist Financial upgraded shares of 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 note on Wednesday, January 7th. New Street Research set a $143.00 target price on Bank of New York Mellon in a report on Wednesday, January 14th. Royal Bank Of Canada raised their price target on Bank of New York Mellon from $124.00 to $130.00 and gave the stock a “sector perform” rating in a research note on Wednesday, January 14th. TD Cowen lifted their price target on Bank of New York Mellon from $133.00 to $145.00 and gave the stock a “buy” rating in a research report on Wednesday, January 7th. Finally, Weiss Ratings downgraded Bank of New York Mellon from a “buy (a-)” rating to a “buy (b+)” rating in a report on Friday, February 13th. Eight investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $131.92.

Bank of New York Mellon Stock Performance

Shares of BK stock opened at $120.26 on Thursday. The stock’s 50-day moving average price is $119.48 and its 200 day moving average price is $111.96. 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 $83.86 billion, a PE ratio of 16.23, a price-to-earnings-growth ratio of 1.09 and a beta of 1.10. The Bank of New York Mellon Corporation has a 52-week low of $70.46 and a 52-week high of $128.76.

Bank of New York Mellon (NYSE:BK) last announced its earnings results on Friday, October 31st. The bank reported $1.91 earnings per share for the quarter. Bank of New York Mellon had a return on equity of 14.37% and a net margin of 13.62%.The company had revenue of $5.07 billion for the quarter. As a group, equities research 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 company also recently disclosed a quarterly dividend, which was paid on Thursday, February 5th. Shareholders of record on Friday, January 23rd were paid a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend was Friday, January 23rd. Bank of New York Mellon’s payout ratio is currently 28.61%.

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.