Raiffeisen Bank International AG Reduces Stake in The Bank of New York Mellon Corporation $BK

Raiffeisen Bank International AG reduced its stake in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 24.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 101,263 shares of the bank’s stock after selling 31,998 shares during the quarter. Raiffeisen Bank International AG’s holdings in Bank of New York Mellon were worth $9,114,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of BK. Westside Investment Management Inc. increased its position in shares of 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 valued at $26,000 after purchasing an additional 127 shares during the last quarter. Hoey Investments Inc. purchased a new position in Bank of New York Mellon during the second quarter worth $32,000. Orion Capital Management LLC bought a new position in Bank of New York Mellon during the first quarter valued at $32,000. GFG Capital LLC bought a new position in Bank of New York Mellon during the second quarter valued at $36,000. Finally, McClarren Financial Advisors Inc. purchased a new stake in shares of Bank of New York Mellon in the first quarter valued at $34,000. 85.31% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on BK shares. Wells Fargo & Company lifted 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 note on Friday, October 17th. The Goldman Sachs Group raised their price objective on shares of Bank of New York Mellon from $106.00 to $120.00 and gave the stock a “buy” rating in a research note on Monday, October 6th. 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. TD Cowen increased their price target on 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, Morgan Stanley increased their target price on Bank of New York Mellon from $101.00 to $116.00 and gave the stock an “overweight” rating in a research note on Monday, September 29th. Ten research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $111.29.

Bank of New York Mellon Stock Performance

Shares of Bank of New York Mellon stock opened at $106.84 on Tuesday. 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 stock’s fifty day moving average price is $107.76 and its 200-day moving average price is $99.44. The firm has a market cap of $74.51 billion, a P/E ratio of 15.42, a P/E/G ratio of 0.98 and a beta of 1.13. The Bank of New York Mellon Corporation has a 12 month low of $70.46 and a 12 month high of $113.74.

Bank of New York Mellon (NYSE:BK) last issued its earnings results on Tuesday, March 26th. The bank reported $1.30 earnings per share (EPS) for the quarter. The company had revenue of $4.38 billion for the quarter. Bank of New York Mellon had a net margin of 12.86% and a return on equity of 14.03%. On average, equities research 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 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 issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend was Monday, October 27th. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 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.