Hantz Financial Services Inc. Trims Stake in The Bank of New York Mellon Corporation $BK

Hantz Financial Services Inc. lowered its holdings in The Bank of New York Mellon Corporation (NYSE:BK) by 3.2% during the second quarter, Holdings Channel.com reports. The firm owned 66,725 shares of the bank’s stock after selling 2,215 shares during the period. Hantz Financial Services Inc.’s holdings in Bank of New York Mellon were worth $6,079,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Ameriprise Financial Inc. raised its position in Bank of New York Mellon by 1.9% in the first quarter. Ameriprise Financial Inc. now owns 12,043,601 shares of the bank’s stock valued at $1,010,093,000 after purchasing an additional 221,613 shares during the period. Nuveen LLC purchased a new stake in Bank of New York Mellon in the first quarter valued at $773,627,000. Invesco Ltd. raised its position in Bank of New York Mellon by 8.8% in the first quarter. Invesco Ltd. now owns 8,264,176 shares of the bank’s stock valued at $693,116,000 after purchasing an additional 667,966 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Bank of New York Mellon by 5.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,125,577 shares of the bank’s stock valued at $681,492,000 after purchasing an additional 436,100 shares during the period. Finally, Goldman Sachs Group Inc. raised its position in Bank of New York Mellon by 26.3% in the first quarter. Goldman Sachs Group Inc. now owns 5,053,744 shares of the bank’s stock valued at $423,858,000 after purchasing an additional 1,052,145 shares during the period. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Analyst Upgrades and Downgrades

BK has been the subject of a number of research reports. Morgan Stanley lifted 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 note on Monday, September 29th. The Goldman Sachs Group lifted 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 note on Monday, October 6th. Barclays lifted their price objective on Bank of New York Mellon from $104.00 to $120.00 and gave the company an “overweight” rating in a research note on Friday, October 17th. BMO Capital Markets initiated coverage on Bank of New York Mellon in a research note on Friday, October 3rd. They issued an “outperform” rating and a $125.00 price objective for the company. Finally, Citigroup lifted their price objective on Bank of New York Mellon from $92.00 to $105.00 and gave the company a “neutral” rating in a research note on Friday, September 5th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $111.29.

Bank of New York Mellon Trading Up 0.7%

BK opened at $107.85 on Friday. The Bank of New York Mellon Corporation has a 12 month low of $70.46 and a 12 month high of $110.87. 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 current ratio of 0.70 and a quick ratio of 0.72. The business has a fifty day moving average price of $106.58 and a 200 day moving average price of $96.50.

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

Bank of New York Mellon Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 7th. Investors of record on Monday, October 27th will be paid a dividend of $0.53 per share. 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 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.