Ellevest Inc. Sells 2,138 Shares of The Bank of New York Mellon Corporation $BK

Ellevest Inc. lessened its holdings in The Bank of New York Mellon Corporation (NYSE:BK) by 14.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,433 shares of the bank’s stock after selling 2,138 shares during the quarter. Ellevest Inc.’s holdings in Bank of New York Mellon were worth $1,133,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Westside Investment Management Inc. grew its holdings in shares of Bank of New York Mellon by 78.9% in the 2nd quarter. Westside Investment Management Inc. now owns 288 shares of the bank’s stock worth $26,000 after purchasing an additional 127 shares during the last quarter. Cornerstone Planning Group LLC grew its holdings in shares of Bank of New York Mellon by 100.0% in the 1st quarter. Cornerstone Planning Group LLC now owns 392 shares of the bank’s stock worth $30,000 after purchasing an additional 196 shares during the last quarter. Orion Capital Management LLC bought a new stake in shares of Bank of New York Mellon in the 1st quarter worth about $32,000. Hoey Investments Inc. bought a new stake in shares of Bank of New York Mellon in the 2nd quarter worth about $32,000. Finally, McClarren Financial Advisors Inc. bought a new stake in shares of Bank of New York Mellon in the 1st quarter worth about $34,000. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Stock Down 0.0%

Shares of NYSE:BK opened at $108.02 on Wednesday. The Bank of New York Mellon Corporation has a 12 month low of $70.46 and a 12 month high of $110.87. The company’s 50-day moving average price is $106.86 and its two-hundred day moving average price is $97.44. The company has a quick ratio of 0.72, a current ratio of 0.70 and a debt-to-equity ratio of 0.83. The firm has a market cap of $76.18 billion, a P/E ratio of 15.59, a P/E/G ratio of 0.98 and a beta of 1.13.

Bank of New York Mellon (NYSE:BK) last issued 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 forecast that The Bank of New York Mellon Corporation will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

The firm 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 dividend of $0.53 per share. The ex-dividend date is Monday, October 27th. This represents a $2.12 dividend on an annualized basis and a yield of 2.0%. Bank of New York Mellon’s dividend payout ratio is presently 30.59%.

Wall Street Analyst Weigh In

BK has been the topic of several analyst reports. Wells Fargo & Company upped their target price 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. Morgan Stanley upped their target price on shares of Bank of New York Mellon from $101.00 to $116.00 and gave the stock an “overweight” rating in a report on Monday, September 29th. Weiss Ratings raised shares of Bank of New York Mellon from a “buy (b+)” rating to a “buy (a-)” rating in a report on Friday, October 24th. Keefe, Bruyette & Woods upped their target price on shares of Bank of New York Mellon from $120.00 to $124.00 and gave the stock an “outperform” rating in a report on Friday, October 17th. Finally, BMO Capital Markets began coverage on shares of Bank of New York Mellon in a report on Friday, October 3rd. They issued an “outperform” rating and a $125.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price 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.