AXS Investments LLC lifted its holdings in The Bank of New York Mellon Co. (NYSE:BK – Free Report) by 29.2% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 28,757 shares of the bank’s stock after purchasing an additional 6,504 shares during the period. AXS Investments LLC’s holdings in Bank of New York Mellon were worth $1,280,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Quilter Plc bought a new stake in Bank of New York Mellon during the 1st quarter worth approximately $446,850,000. Nemes Rush Group LLC bought a new stake in Bank of New York Mellon during the 2nd quarter worth approximately $27,000. Brown Brothers Harriman & Co. raised its stake in Bank of New York Mellon by 97.1% during the 1st quarter. Brown Brothers Harriman & Co. now owns 609 shares of the bank’s stock worth $30,000 after acquiring an additional 300 shares during the period. Duncker Streett & Co. Inc. bought a new stake in Bank of New York Mellon during the 2nd quarter worth approximately $33,000. Finally, Glass Jacobson Investment Advisors llc bought a new stake in Bank of New York Mellon during the 2nd quarter worth approximately $35,000. Institutional investors own 81.29% of the company’s stock.
Bank of New York Mellon Price Performance
Shares of BK stock traded up $0.72 on Friday, reaching $47.20. The company’s stock had a trading volume of 5,924,953 shares, compared to its average volume of 5,133,756. The stock’s fifty day simple moving average is $43.42 and its 200-day simple moving average is $43.54. The Bank of New York Mellon Co. has a 1 year low of $39.65 and a 1 year high of $52.26. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.83. The company has a market capitalization of $36.30 billion, a price-to-earnings ratio of 11.08, a price-to-earnings-growth ratio of 1.08 and a beta of 1.10.
Bank of New York Mellon Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 9th. Shareholders of record on Friday, October 27th were paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 3.56%. The ex-dividend date of this dividend was Thursday, October 26th. Bank of New York Mellon’s payout ratio is 39.44%.
Analyst Upgrades and Downgrades
A number of equities research analysts have commented on BK shares. Evercore ISI decreased their target price on shares of Bank of New York Mellon from $47.00 to $45.00 in a research note on Thursday, October 5th. Bank of America reduced their price objective on shares of Bank of New York Mellon from $55.00 to $53.00 in a research report on Tuesday, October 10th. Morgan Stanley reduced their price objective on shares of Bank of New York Mellon from $48.00 to $46.00 and set an “underweight” rating on the stock in a research report on Tuesday, October 3rd. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Bank of New York Mellon from $45.00 to $44.00 and set a “hold” rating on the stock in a research report on Wednesday, October 11th. Finally, StockNews.com began coverage on shares of Bank of New York Mellon in a research report on Thursday, October 5th. They set a “hold” rating on the stock. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $52.40.
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.
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