Stevens Capital Management LP Purchases New Stake in The Bank of New York Mellon Corporation $BK

Stevens Capital Management LP acquired a new position in The Bank of New York Mellon Corporation (NYSE:BK) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 5,775 shares of the bank’s stock, valued at approximately $526,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Revolve Wealth Partners LLC bought a new stake in shares of Bank of New York Mellon during the 4th quarter valued at about $220,000. Advisor OS LLC bought a new position in Bank of New York Mellon in the first quarter worth about $296,000. Brookwood Investment Group LLC acquired a new position in Bank of New York Mellon in the first quarter valued at approximately $306,000. Avantax Advisory Services Inc. grew its holdings in shares of Bank of New York Mellon by 7.1% during the first quarter. Avantax Advisory Services Inc. now owns 67,927 shares of the bank’s stock valued at $5,697,000 after purchasing an additional 4,496 shares during the last quarter. Finally, Cetera Investment Advisers grew its holdings in shares of Bank of New York Mellon by 14.7% during the first quarter. Cetera Investment Advisers now owns 293,722 shares of the bank’s stock valued at $24,634,000 after purchasing an additional 37,693 shares during the last quarter. 85.31% of the stock is owned by institutional investors and hedge funds.

Bank of New York Mellon Stock Up 0.1%

Bank of New York Mellon stock opened at $106.54 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 stock has a market cap of $74.30 billion, a price-to-earnings ratio of 15.37, a PEG ratio of 0.98 and a beta of 1.13. The company’s 50-day moving average price is $107.91 and its two-hundred day moving average price is $100.01. The company has a current ratio of 0.70, a quick ratio of 0.72 and a debt-to-equity ratio of 0.83.

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 during the quarter. On average, analysts expect that The Bank of New York Mellon Corporation will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 7th. Stockholders of record on Monday, October 27th were paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend was Monday, October 27th. Bank of New York Mellon’s payout ratio is currently 30.59%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on BK shares. Keefe, Bruyette & Woods raised their price target on Bank of New York Mellon from $120.00 to $124.00 and gave the stock an “outperform” rating in a report on Friday, October 17th. TD Cowen boosted their price target on shares of Bank of New York Mellon from $130.00 to $133.00 and gave the company a “buy” rating in a report on Monday, October 20th. 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 report on Tuesday, September 30th. BMO Capital Markets started coverage on shares of Bank of New York Mellon in a research report on Friday, October 3rd. They issued an “outperform” rating and a $125.00 price objective on the stock. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Bank of New York Mellon in a research report on Wednesday. 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 MarketBeat.com, Bank of New York Mellon has an average rating of “Moderate Buy” and a consensus price target of $111.29.

Bank of New York Mellon Profile

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.