Koshinski Asset Management Inc. Has $209,000 Stock Position in The Bank of New York Mellon Corporation $BK

Koshinski Asset Management Inc. lowered its position in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 7.9% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,295 shares of the bank’s stock after selling 198 shares during the quarter. Koshinski Asset Management Inc.’s holdings in Bank of New York Mellon were worth $209,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Hemington Wealth Management grew its holdings in Bank of New York Mellon by 6.3% during the 2nd quarter. Hemington Wealth Management now owns 1,730 shares of the bank’s stock worth $157,000 after acquiring an additional 102 shares during the last quarter. Confluence Wealth Services Inc. grew its holdings in Bank of New York Mellon by 1.0% during the 2nd quarter. Confluence Wealth Services Inc. now owns 11,761 shares of the bank’s stock worth $1,072,000 after acquiring an additional 111 shares during the last quarter. Leonard Rickey Investment Advisors P.L.L.C. grew its holdings in Bank of New York Mellon by 2.2% during the 2nd quarter. Leonard Rickey Investment Advisors P.L.L.C. now owns 5,094 shares of the bank’s stock worth $464,000 after acquiring an additional 112 shares during the last quarter. Sax Wealth Advisors LLC grew its holdings in Bank of New York Mellon by 2.3% during the 1st quarter. Sax Wealth Advisors LLC now owns 5,278 shares of the bank’s stock worth $443,000 after acquiring an additional 117 shares during the last quarter. Finally, Y.D. More Investments Ltd grew its holdings in Bank of New York Mellon by 13.8% during the 1st quarter. Y.D. More Investments Ltd now owns 1,030 shares of the bank’s stock worth $86,000 after acquiring an additional 125 shares during the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on BK. Wells Fargo & Company increased their price objective on shares of Bank of New York Mellon from $100.00 to $109.00 and gave the stock an “equal weight” rating in a report on Friday, October 17th. The Goldman Sachs Group increased their price objective on shares of Bank of New York Mellon from $106.00 to $120.00 and gave the stock a “buy” rating in a report on Monday, October 6th. Weiss Ratings reissued a “buy (b+)” rating on shares of Bank of New York Mellon in a report on Wednesday, October 8th. Barclays lifted their price target on shares of Bank of New York Mellon from $104.00 to $120.00 and gave the stock an “overweight” rating in a research report on Friday, October 17th. Finally, Citigroup lifted their price objective on shares of Bank of New York Mellon from $92.00 to $105.00 and gave the stock a “neutral” rating in a research note on Friday, September 5th. Ten research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $111.29.

Bank of New York Mellon Stock Performance

NYSE BK opened at $107.05 on Wednesday. The company has a current ratio of 0.70, a quick ratio of 0.72 and a debt-to-equity ratio of 0.83. The firm’s fifty day moving average price is $105.77 and its two-hundred day moving average price is $94.98. The Bank of New York Mellon Corporation has a 1 year low of $70.46 and a 1 year high of $110.87. The firm has a market capitalization of $75.50 billion, a P/E ratio of 15.45, a price-to-earnings-growth ratio of 1.00 and a beta of 1.13.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings data on Tuesday, March 26th. The bank reported $1.30 EPS for the quarter. Bank of New York Mellon had a net margin of 12.86% and a return on equity of 14.03%. The firm had revenue of $4.38 billion for the quarter. As a group, research analysts anticipate 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 will be paid on Friday, November 7th. Shareholders of record on Monday, October 27th will be paid a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Monday, October 27th. Bank of New York Mellon’s dividend payout ratio is presently 30.59%.

About Bank of New York Mellon

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.