OmniStar Financial Group Inc. Sells 4,979 Shares of The Bank of New York Mellon Corporation $BK

OmniStar Financial Group Inc. lessened its holdings in The Bank of New York Mellon Corporation (NYSE:BK) by 46.7% in the second quarter, Holdings Channel reports. The institutional investor owned 5,674 shares of the bank’s stock after selling 4,979 shares during the period. OmniStar Financial Group Inc.’s holdings in Bank of New York Mellon were worth $517,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Westside Investment Management Inc. increased its holdings in Bank of New York Mellon by 78.9% in the second quarter. Westside Investment Management Inc. now owns 288 shares of the bank’s stock valued at $26,000 after purchasing an additional 127 shares during the period. Hoey Investments Inc. bought a new position in Bank of New York Mellon during the 2nd quarter worth approximately $32,000. Orion Capital Management LLC acquired a new position in shares of Bank of New York Mellon in the 1st quarter worth approximately $32,000. GFG Capital LLC bought a new position in Bank of New York Mellon during the second quarter worth $36,000. Finally, McClarren Financial Advisors Inc. bought a new stake in Bank of New York Mellon during the first quarter valued at $34,000. 85.31% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Wells Fargo & Company raised their price objective on shares of Bank of New York Mellon from $100.00 to $109.00 and gave the stock an “equal weight” rating in a research report on Friday, October 17th. Evercore ISI increased 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 research report on Tuesday, September 30th. Truist Financial boosted their target price on Bank of New York Mellon from $118.00 to $119.00 and gave the company a “hold” rating in a research report on Friday, October 17th. Citigroup increased their price target on Bank of New York Mellon from $92.00 to $105.00 and gave the stock a “neutral” rating in a report on Friday, September 5th. Finally, The Goldman Sachs Group upped their target price on Bank of New York Mellon from $106.00 to $120.00 and gave the stock a “buy” rating in a research report on Monday, October 6th. Ten analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $111.29.

Bank of New York Mellon Trading Down 0.4%

NYSE:BK opened at $110.60 on Friday. The Bank of New York Mellon Corporation has a 52 week low of $70.46 and a 52 week high of $113.74. The firm has a 50-day moving average price of $107.70 and a two-hundred day moving average price of $98.99. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.72 and a current ratio of 0.70. The firm has a market cap of $77.13 billion, a price-to-earnings ratio of 15.96, a price-to-earnings-growth ratio of 0.98 and a beta of 1.13.

Bank of New York Mellon (NYSE:BK) last issued 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 net margin of 12.86% and a return on equity of 14.03%. The company had revenue of $4.38 billion for the quarter. On average, equities analysts expect that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 7th. Shareholders of record on Monday, October 27th were issued a dividend of $0.53 per share. The ex-dividend date of this dividend was Monday, October 27th. This represents a $2.12 annualized dividend and a yield of 1.9%. Bank of New York Mellon’s dividend payout ratio is 30.59%.

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.