Benin Management CORP Has $630,000 Holdings in The Bank of New York Mellon Corporation $BK

Benin Management CORP trimmed its stake in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 4.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,915 shares of the bank’s stock after selling 338 shares during the period. Benin Management CORP’s holdings in Bank of New York Mellon were worth $630,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Alpine Bank Wealth Management acquired a new position in shares of Bank of New York Mellon during the first quarter worth approximately $25,000. Cornerstone Planning Group LLC lifted its position in shares of Bank of New York Mellon by 100.0% during the first quarter. Cornerstone Planning Group LLC now owns 392 shares of the bank’s stock worth $30,000 after purchasing an additional 196 shares in the last quarter. Orion Capital Management LLC acquired a new position in shares of Bank of New York Mellon during the first quarter worth approximately $32,000. Hoey Investments Inc. acquired a new position in shares of Bank of New York Mellon during the second quarter worth approximately $32,000. Finally, Golden State Wealth Management LLC lifted its position in shares of Bank of New York Mellon by 226.4% during the first quarter. Golden State Wealth Management LLC now owns 408 shares of the bank’s stock worth $34,000 after purchasing an additional 283 shares in the last quarter. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Bank of New York Mellon Trading Down 1.3%

BK opened at $107.05 on Wednesday. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.70 and a quick ratio of 0.72. The company has a market cap of $75.50 billion, a price-to-earnings ratio of 15.45, a price-to-earnings-growth ratio of 1.00 and a beta of 1.13. The firm has a 50 day simple moving average of $105.77 and a 200 day simple moving average of $94.98. The Bank of New York Mellon Corporation has a fifty-two week low of $70.46 and a fifty-two week high of $110.87.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings results on Tuesday, March 26th. The bank reported $1.30 earnings per share for the quarter. The business had revenue of $4.38 billion during the quarter. Bank of New York Mellon had a net margin of 12.86% and a return on equity of 14.03%. On average, sell-side analysts anticipate 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 announced a quarterly dividend, which will be paid on Friday, November 7th. Shareholders of record on Monday, October 27th will be paid a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Monday, October 27th. Bank of New York Mellon’s dividend payout ratio is presently 30.59%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on BK shares. TD Cowen upped their target price on shares of Bank of New York Mellon from $130.00 to $133.00 and gave the stock a “buy” rating in a research report on Monday. Evercore ISI upped their target price on shares of Bank of New York Mellon from $91.00 to $110.00 and gave the stock an “in-line” rating in a research report on Tuesday, September 30th. The Goldman Sachs Group upped their target price on shares of Bank of New York Mellon from $106.00 to $120.00 and gave the stock a “buy” rating in a research report on Monday, October 6th. Citigroup upped their target price on shares of Bank of New York Mellon from $92.00 to $105.00 and gave the stock a “neutral” rating in a research report on Friday, September 5th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Bank of New York Mellon from $120.00 to $124.00 and gave the stock an “outperform” rating in a research note on Friday, October 17th. Ten equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $111.29.

Bank of New York Mellon Profile

The Bank of New York Mellon Corporation provides a range of financial products and services in the United States and internationally. The company operates through Securities Services, Market and Wealth Services, Investment and Wealth Management, and other segments. The Securities Services segment offers custody, trust and depositary, accounting, exchange-traded funds, middle-office solutions, transfer agency, services for private equity and real estate funds, foreign exchange, securities lending, liquidity/lending services, and data analytics.