9,901 Shares in The Bank of New York Mellon Corporation $BK Acquired by Groupama Asset Managment

Groupama Asset Managment bought a new position in shares of The Bank of New York Mellon Corporation (NYSE:BK) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 9,901 shares of the bank’s stock, valued at approximately $1,079,000.

A number of other hedge funds have also bought and sold shares of the stock. Valley Wealth Managers Inc. acquired a new stake in shares of Bank of New York Mellon during the third quarter worth $33,000. Caldwell Trust Co acquired a new position in shares of Bank of New York Mellon in the 2nd quarter valued at $36,000. Westside Investment Management Inc. raised its stake in Bank of New York Mellon by 44.1% in the 3rd quarter. Westside Investment Management Inc. now owns 415 shares of the bank’s stock worth $45,000 after acquiring an additional 127 shares during the last quarter. Dunhill Financial LLC lifted its position in Bank of New York Mellon by 130.8% during the 3rd quarter. Dunhill Financial LLC now owns 427 shares of the bank’s stock worth $47,000 after acquiring an additional 242 shares during the period. Finally, Community Bank N.A. lifted 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 acquiring an additional 313 shares during the period. Institutional investors and hedge funds own 85.31% of the company’s stock.

Wall Street Analysts Forecast Growth

BK has been the topic of a number of research reports. New Street Research set a $143.00 price objective on Bank of New York Mellon in a report on Wednesday, January 14th. Wells Fargo & Company lifted their target price on Bank of New York Mellon from $119.00 to $122.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 14th. TD Cowen upped their target price on Bank of New York Mellon from $133.00 to $145.00 and gave the company a “buy” rating in a research report on Wednesday, January 7th. Citigroup assumed coverage on shares of Bank of New York Mellon in a report on Monday, February 23rd. They issued a “neutral” rating on the stock. Finally, Truist Financial raised shares of Bank of New York Mellon from a “hold” rating to a “buy” rating and raised their price target for the stock from $119.00 to $134.00 in a research report on Wednesday, January 7th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $131.92.

Bank of New York Mellon Trading Down 0.0%

BK stock opened at $114.87 on Friday. The company’s 50-day simple moving average is $119.13 and its 200-day simple moving average is $113.50. 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 Bank of New York Mellon Corporation has a 52-week low of $70.46 and a 52-week high of $128.76. The firm has a market cap of $79.06 billion, a P/E ratio of 15.50, a PEG ratio of 1.07 and a beta of 1.10.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings results on Friday, October 31st. The bank reported $1.91 earnings per share 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 14.37% and a net margin of 13.62%. As a group, equities analysts forecast that The Bank of New York Mellon Corporation will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 5th. Shareholders of record on Friday, January 23rd were issued 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 dividend payout ratio (DPR) 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.