Penserra Capital Management LLC Sells 7,998 Shares of The Bank of New York Mellon Corporation $BK

Penserra Capital Management LLC lowered its stake in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 63.2% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 4,657 shares of the bank’s stock after selling 7,998 shares during the quarter. Penserra Capital Management LLC’s holdings in Bank of New York Mellon were worth $422,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Westside Investment Management Inc. boosted its stake 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 worth $26,000 after buying an additional 127 shares during the period. Orion Capital Management LLC purchased a new stake in shares of Bank of New York Mellon in the first quarter valued at $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. McClarren Financial Advisors Inc. purchased a new position in shares of Bank of New York Mellon during the 1st quarter worth about $34,000. Finally, GFG Capital LLC bought a new position in Bank of New York Mellon during the 2nd quarter valued at about $36,000. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Stock Up 1.2%

NYSE:BK opened at $112.62 on Thursday. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.70 and a quick ratio of 0.72. The Bank of New York Mellon Corporation has a 1-year low of $70.46 and a 1-year high of $113.74. The company has a 50-day moving average of $107.46 and a 200 day moving average of $98.69. The firm has a market cap of $78.54 billion, a PE ratio of 16.25, a price-to-earnings-growth ratio of 0.98 and a beta of 1.13.

Bank of New York Mellon (NYSE:BK) last posted its earnings results 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 business had revenue of $4.38 billion for the quarter. As a group, research 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 disclosed a quarterly dividend, which was paid on Friday, November 7th. Investors of record on Monday, October 27th were paid a $0.53 dividend. The ex-dividend date of this dividend was Monday, October 27th. This represents a $2.12 dividend on an annualized basis and a yield of 1.9%. Bank of New York Mellon’s payout ratio is 30.59%.

Analyst Upgrades and Downgrades

BK has been the topic of several recent analyst reports. Keefe, Bruyette & Woods increased their price target on 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. Barclays upped their price objective on Bank of New York Mellon from $104.00 to $120.00 and gave the company an “overweight” rating in a research report on Friday, October 17th. BMO Capital Markets assumed coverage on Bank of New York Mellon in a research report on Friday, October 3rd. They set an “outperform” rating and a $125.00 target price for the company. TD Cowen upped their price target on shares of 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. Finally, Evercore ISI raised their price target on shares of Bank of New York Mellon from $91.00 to $110.00 and gave the stock an “in-line” rating in a research note on Tuesday, September 30th. Ten research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, Bank of New York Mellon has an average rating of “Moderate Buy” and a consensus 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.