Profund Advisors LLC Sells 1,140 Shares of The Bank of New York Mellon Corporation $BK

Profund Advisors LLC decreased its holdings in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 9.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,378 shares of the bank’s stock after selling 1,140 shares during the quarter. Profund Advisors LLC’s holdings in Bank of New York Mellon were worth $946,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Westside Investment Management Inc. raised its holdings in Bank of New York Mellon by 78.9% during the second quarter. Westside Investment Management Inc. now owns 288 shares of the bank’s stock valued at $26,000 after buying an additional 127 shares in the last quarter. Hoey Investments Inc. bought a new stake in shares of Bank of New York Mellon during the 2nd quarter worth about $32,000. Orion Capital Management LLC acquired a new position in shares of Bank of New York Mellon during the 1st quarter valued at about $32,000. GFG Capital LLC bought a new position in shares of Bank of New York Mellon in the 2nd quarter valued at approximately $36,000. Finally, McClarren Financial Advisors Inc. bought a new position in shares of Bank of New York Mellon in the 1st quarter valued at approximately $34,000. Institutional investors and hedge funds own 85.31% of the company’s stock.

Bank of New York Mellon Stock Performance

NYSE:BK opened at $111.23 on Wednesday. The stock has a market capitalization of $77.57 billion, a P/E ratio of 16.05, a price-to-earnings-growth 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 Bank of New York Mellon Corporation has a 1 year low of $70.46 and a 1 year high of $111.94. The firm has a 50 day moving average of $107.29 and a 200-day moving average of $98.59.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings results on Tuesday, March 26th. The bank reported $1.30 earnings per share 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. As a group, sell-side analysts anticipate 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 declared 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 payout ratio is currently 30.59%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on BK. Evercore ISI raised their price objective on shares of Bank of New York Mellon from $91.00 to $110.00 and gave the stock an “in-line” rating in a report on Tuesday, September 30th. BMO Capital Markets assumed coverage on shares of Bank of New York Mellon in a research note on Friday, October 3rd. They set an “outperform” rating and a $125.00 price target for the company. Keefe, Bruyette & Woods lifted their price objective on Bank of New York Mellon from $120.00 to $124.00 and gave the company an “outperform” rating in a report on Friday, October 17th. Wells Fargo & Company increased their target price on 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. Finally, Barclays raised their target price on Bank of New York Mellon from $104.00 to $120.00 and gave the stock an “overweight” rating in a research report on Friday, October 17th. Ten analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, Bank of New York Mellon presently has an average rating of “Moderate Buy” and an average target price of $111.29.

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.