CSM Advisors LLC Boosts Position in The Bank of New York Mellon Corporation $BK

CSM Advisors LLC lifted its position in The Bank of New York Mellon Corporation (NYSE:BK) by 1,077.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 425,015 shares of the bank’s stock after buying an additional 388,932 shares during the quarter. Bank of New York Mellon makes up approximately 1.1% of CSM Advisors LLC’s portfolio, making the stock its 12th biggest holding. CSM Advisors LLC owned approximately 0.06% of Bank of New York Mellon worth $38,724,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of BK. Ameriprise Financial Inc. lifted its stake in Bank of New York Mellon by 1.9% in the 1st quarter. Ameriprise Financial Inc. now owns 12,043,601 shares of the bank’s stock worth $1,010,093,000 after purchasing an additional 221,613 shares in the last quarter. Nuveen LLC bought a new position in shares of Bank of New York Mellon in the first quarter worth $773,627,000. Invesco Ltd. raised its position in shares of 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 worth $693,116,000 after buying an additional 667,966 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of 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 worth $681,492,000 after buying an additional 436,100 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in Bank of New York Mellon by 26.3% during the first quarter. Goldman Sachs Group Inc. now owns 5,053,744 shares of the bank’s stock valued at $423,858,000 after buying an additional 1,052,145 shares during the period. 85.31% of the stock is currently owned by institutional investors.

Bank of New York Mellon Trading Up 1.1%

Shares of BK opened at $109.66 on Friday. 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. The firm has a market cap of $76.47 billion, a price-to-earnings ratio of 15.82, a PEG ratio of 0.98 and a beta of 1.13. The firm has a 50 day moving average price of $107.06 and a 200-day moving average price of $97.99. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.72 and a current ratio of 0.70.

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. The company had revenue of $4.38 billion for the quarter. Bank of New York Mellon had a net margin of 12.86% and a return on equity of 14.03%. As a group, equities research analysts forecast 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 business also recently announced a quarterly dividend, which was paid on Friday, November 7th. Stockholders of record on Monday, October 27th were paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend was Monday, October 27th. Bank of New York Mellon’s payout ratio is 30.59%.

Analyst Ratings Changes

A number of equities analysts have weighed in on BK shares. TD Cowen upped their target price on Bank of New York Mellon from $130.00 to $133.00 and gave the stock a “buy” rating in a research note on Monday, October 20th. BMO Capital Markets assumed coverage on shares of Bank of New York Mellon in a research note on Friday, October 3rd. They issued an “outperform” rating and a $125.00 target price on the stock. Wells Fargo & Company lifted their target price on shares of 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. Keefe, Bruyette & Woods increased 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 report on Friday, October 17th. Finally, The Goldman Sachs Group raised their price objective on shares of 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. Ten investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $111.29.

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.