The Bank of New York Mellon Corporation $BK Shares Sold by Sigma Planning Corp

Sigma Planning Corp lessened its holdings in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 15.9% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,601 shares of the bank’s stock after selling 869 shares during the quarter. Sigma Planning Corp’s holdings in Bank of New York Mellon were worth $419,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Orion Capital Management LLC purchased a new position in shares of Bank of New York Mellon during the 1st quarter valued at approximately $32,000. Hoey Investments Inc. acquired a new stake in Bank of New York Mellon in the second quarter valued at $32,000. McClarren Financial Advisors Inc. acquired a new stake in Bank of New York Mellon in the first quarter valued at $34,000. GFG Capital LLC bought a new position in Bank of New York Mellon during the 2nd quarter valued at $36,000. Finally, Creekmur Asset Management LLC grew its holdings in Bank of New York Mellon by 86.8% during the 1st quarter. Creekmur Asset Management LLC now owns 467 shares of the bank’s stock worth $39,000 after acquiring an additional 217 shares in the last quarter. 85.31% of the stock is owned by institutional investors and hedge funds.

Bank of New York Mellon Stock Up 1.1%

Shares of Bank of New York Mellon stock opened at $109.66 on Friday. The Bank of New York Mellon Corporation has a twelve month low of $70.46 and a twelve month high of $110.87. The stock has a market capitalization 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 company has a current ratio of 0.70, a quick ratio of 0.72 and a debt-to-equity ratio of 0.83. The business’s 50 day simple moving average is $107.06 and its 200-day simple moving average is $97.99.

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. The firm had revenue of $4.38 billion during the quarter. Bank of New York Mellon had a return on equity of 14.03% and a net margin of 12.86%. 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 company also recently disclosed a quarterly dividend, which was paid on Friday, November 7th. Investors of record on Monday, October 27th were issued 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 dividend payout ratio (DPR) is 30.59%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Weiss Ratings lowered shares of Bank of New York Mellon from a “buy (a-)” rating to a “buy (b)” rating in a research note on Friday. Morgan Stanley boosted their price objective on Bank of New York Mellon from $101.00 to $116.00 and gave the company an “overweight” rating in a report on Monday, September 29th. TD Cowen increased their target price on Bank of New York Mellon from $130.00 to $133.00 and gave the stock a “buy” rating in a report on Monday, October 20th. BMO Capital Markets started coverage on Bank of New York Mellon in a research report on Friday, October 3rd. They issued an “outperform” rating and a $125.00 target price for the company. Finally, Truist Financial boosted their price target on Bank of New York Mellon from $118.00 to $119.00 and gave the company a “hold” rating in a report on Friday, October 17th. Ten equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.