Calamos Advisors LLC Has $16.90 Million Stake in The Bank of New York Mellon Corporation $BK

Calamos Advisors LLC lowered its stake in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 34.7% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 185,448 shares of the bank’s stock after selling 98,675 shares during the quarter. Calamos Advisors LLC’s holdings in Bank of New York Mellon were worth $16,896,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Revolve Wealth Partners LLC bought a new position in Bank of New York Mellon in the 4th quarter worth $220,000. Cerity Partners LLC grew its position in shares of Bank of New York Mellon by 42.0% in the first quarter. Cerity Partners LLC now owns 86,535 shares of the bank’s stock valued at $7,258,000 after purchasing an additional 25,600 shares during the last quarter. Bleakley Financial Group LLC increased its stake in shares of Bank of New York Mellon by 10.2% in the first quarter. Bleakley Financial Group LLC now owns 12,392 shares of the bank’s stock worth $1,039,000 after purchasing an additional 1,148 shares during the period. Edgestream Partners L.P. lifted its position in shares of Bank of New York Mellon by 4.2% during the 1st quarter. Edgestream Partners L.P. now owns 36,393 shares of the bank’s stock worth $3,052,000 after purchasing an additional 1,463 shares during the last quarter. Finally, Signaturefd LLC lifted its position in shares of Bank of New York Mellon by 9.9% during the 1st quarter. Signaturefd LLC now owns 15,836 shares of the bank’s stock worth $1,328,000 after purchasing an additional 1,428 shares during the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Bank of New York Mellon Trading Up 1.2%

Shares of BK opened at $112.62 on Thursday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.72 and a current ratio of 0.70. The company has a market cap of $78.54 billion, a price-to-earnings ratio of 16.25, a PEG ratio of 0.98 and a beta of 1.13. The stock has a fifty day moving average price of $107.46 and a two-hundred day moving average price of $98.69. The Bank of New York Mellon Corporation has a 52-week low of $70.46 and a 52-week high of $113.74.

Bank of New York Mellon (NYSE:BK) last announced its 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 company had revenue of $4.38 billion during the quarter. Analysts predict 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 business also recently announced a quarterly dividend, which was paid on Friday, November 7th. Stockholders of record on Monday, October 27th were given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date was Monday, October 27th. Bank of New York Mellon’s dividend payout ratio is presently 30.59%.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Evercore ISI raised their target price on Bank of New York Mellon from $91.00 to $110.00 and gave the company an “in-line” rating in a report on Tuesday, September 30th. 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 stock a “buy” rating in a research note on Monday, October 6th. BMO Capital Markets initiated 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 target price for the company. Weiss Ratings downgraded shares of Bank of New York Mellon from a “buy (a-)” rating to a “buy (b)” rating in a report on Friday, November 7th. Finally, Barclays boosted their price objective on shares of Bank of New York Mellon from $104.00 to $120.00 and gave the stock an “overweight” rating in a report on Friday, October 17th. Ten equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, Bank of New York Mellon has a consensus 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.