Thrivent Financial for Lutherans Sells 11,307 Shares of The Bank of New York Mellon Corporation $BK

Thrivent Financial for Lutherans trimmed its position in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 1.1% during the second quarter, Holdings Channel.com reports. The institutional investor owned 1,043,684 shares of the bank’s stock after selling 11,307 shares during the period. Thrivent Financial for Lutherans’ holdings in Bank of New York Mellon were worth $95,090,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Canada Post Corp Registered Pension Plan bought a new position in Bank of New York Mellon in the 1st quarter valued at approximately $1,035,000. Investment Management Corp of Ontario increased its stake in shares of Bank of New York Mellon by 25.9% in the second quarter. Investment Management Corp of Ontario now owns 125,506 shares of the bank’s stock valued at $11,435,000 after buying an additional 25,842 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Bank of New York Mellon by 150.5% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 85,654 shares of the bank’s stock valued at $7,804,000 after buying an additional 51,457 shares during the last quarter. Public Employees Retirement System of Ohio boosted its position in Bank of New York Mellon by 127.7% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 620,715 shares of the bank’s stock worth $56,553,000 after buying an additional 348,162 shares during the period. Finally, OMNI 360 Wealth Inc. bought a new stake in Bank of New York Mellon during the 2nd quarter worth approximately $230,000. 85.31% of the stock is owned by institutional investors and hedge funds.

Bank of New York Mellon Stock Down 1.4%

Shares of NYSE BK opened at $116.98 on Friday. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.70 and a quick ratio of 0.70. The Bank of New York Mellon Corporation has a 1 year low of $70.46 and a 1 year high of $119.40. The stock has a market capitalization of $81.57 billion, a P/E ratio of 16.88, a P/E/G ratio of 1.06 and a beta of 1.12. The company has a 50-day moving average price of $109.54 and a 200-day moving average price of $102.65.

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 (EPS) for the quarter. Bank of New York Mellon had a return on equity of 14.03% and a net margin of 12.86%.The business had revenue of $4.38 billion during the quarter. On average, equities research analysts forecast that The Bank of New York Mellon Corporation will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The business 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 1.8%. The ex-dividend date of this dividend was Monday, October 27th. Bank of New York Mellon’s payout ratio is 30.59%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on BK shares. 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 price target for the company. Keefe, Bruyette & Woods raised their target price on Bank of New York Mellon from $120.00 to $124.00 and gave the stock an “outperform” rating in a research report on Friday, October 17th. Truist Financial upped their price target 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. Evercore ISI increased their target price 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 report on Tuesday, September 30th. Finally, The Goldman Sachs Group boosted their price target on shares of 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 research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $111.29.

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.