BLB&B Advisors LLC Sells 145 Shares of The Bank of New York Mellon Corporation $BK

BLB&B Advisors LLC cut its stake in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 3.6% in the 2nd quarter, Holdings Channel.com reports. The fund owned 3,920 shares of the bank’s stock after selling 145 shares during the period. BLB&B Advisors LLC’s holdings in Bank of New York Mellon were worth $357,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Hoey Investments Inc. bought a new position in shares of Bank of New York Mellon during the second quarter valued at $32,000. Orion Capital Management LLC bought a new position in shares of Bank of New York Mellon during the first quarter valued at $32,000. Cornerstone Planning Group LLC increased its holdings 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 valued at $30,000 after acquiring an additional 196 shares in the last quarter. GFG Capital LLC bought a new position in shares of Bank of New York Mellon during the second quarter valued at $36,000. Finally, Golden State Wealth Management LLC increased its holdings 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 valued at $34,000 after acquiring an additional 283 shares in the last quarter. 85.31% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on BK shares. The Goldman Sachs Group increased their price objective on Bank of New York Mellon from $106.00 to $120.00 and gave the company a “buy” rating in a research report on Monday, October 6th. Wells Fargo & Company increased their price objective on Bank of New York Mellon from $100.00 to $109.00 and gave the company an “equal weight” rating in a research report on Friday, October 17th. BMO Capital Markets started coverage on Bank of New York Mellon in a research report on Friday, October 3rd. They set an “outperform” rating and a $125.00 price objective on the stock. Morgan Stanley increased their price objective on Bank of New York Mellon from $101.00 to $116.00 and gave the company an “overweight” rating in a research report on Monday, September 29th. Finally, Evercore ISI increased their price objective on Bank of New York Mellon from $91.00 to $110.00 and gave the company an “in-line” rating in a research report on Tuesday, September 30th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $111.29.

Bank of New York Mellon Trading Up 0.7%

Shares of NYSE:BK opened at $107.85 on Friday. The stock has a market capitalization of $76.06 billion, a price-to-earnings ratio of 15.56, a PEG ratio of 0.98 and a beta of 1.13. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.72 and a current ratio of 0.70. The stock’s 50-day simple moving average is $106.58 and its two-hundred day simple moving average is $96.50. The Bank of New York Mellon Corporation has a 52-week low of $70.46 and a 52-week high of $110.87.

Bank of New York Mellon (NYSE:BK) last announced its earnings results on Tuesday, March 26th. The bank reported $1.30 earnings per share (EPS) for the quarter. The business had revenue of $4.38 billion for the quarter. Bank of New York Mellon had a return on equity of 14.03% and a net margin of 12.86%. Analysts expect that The Bank of New York Mellon Corporation will post 6.96 EPS for the current year.

Bank of New York Mellon Dividend Announcement

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 given 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 (DPR) is presently 30.59%.

Bank of New York Mellon Company 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.