Mount Lucas Management LP Has $1.65 Million Stock Holdings in The Bank of New York Mellon Corporation $BK

Mount Lucas Management LP lowered its holdings in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 13.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 18,064 shares of the bank’s stock after selling 2,750 shares during the period. Mount Lucas Management LP’s holdings in Bank of New York Mellon were worth $1,646,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Westside Investment Management Inc. lifted its holdings in Bank of New York Mellon by 78.9% during the 2nd 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. Hoey Investments Inc. bought a new position in shares of Bank of New York Mellon during the second quarter worth about $32,000. Orion Capital Management LLC acquired a new position in shares of Bank of New York Mellon in the first quarter worth approximately $32,000. GFG Capital LLC bought a new stake in Bank of New York Mellon in the second quarter valued at approximately $36,000. Finally, McClarren Financial Advisors Inc. bought a new stake in Bank of New York Mellon in the first quarter valued at approximately $34,000. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Wells Fargo & Company boosted their price target 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. Citigroup upped their target price on Bank of New York Mellon from $92.00 to $105.00 and gave the company a “neutral” rating in a research report on Friday, September 5th. Morgan Stanley boosted their price target on Bank of New York Mellon from $101.00 to $116.00 and gave the company an “overweight” rating in a research note on Monday, September 29th. Evercore ISI lifted their price objective on shares of Bank of New York Mellon from $91.00 to $110.00 and gave the company an “in-line” rating in a research note on Tuesday, September 30th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Bank of New York Mellon in a research note on Thursday. Ten investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $111.29.

Bank of New York Mellon Stock Performance

NYSE BK opened at $110.60 on Monday. 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 company has a fifty day simple moving average of $107.70 and a 200 day simple moving average of $99.26. The Bank of New York Mellon Corporation has a 12-month low of $70.46 and a 12-month high of $113.74. The company has a market cap of $77.13 billion, a P/E ratio of 15.96, a PEG ratio of 0.98 and a beta of 1.13.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings data on Tuesday, March 26th. The bank reported $1.30 earnings per share (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 firm had revenue of $4.38 billion during the quarter. Sell-side analysts predict 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 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 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 was Monday, October 27th. Bank of New York Mellon’s dividend payout ratio (DPR) is currently 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.