Greystone Financial Group LLC Has $15.31 Million Stake in The Bank of New York Mellon Corporation $BK

Greystone Financial Group LLC lowered its holdings in The Bank of New York Mellon Corporation (NYSE:BK) by 8.8% during the third quarter, Holdings Channel.com reports. The firm owned 140,507 shares of the bank’s stock after selling 13,603 shares during the period. Bank of New York Mellon accounts for about 2.4% of Greystone Financial Group LLC’s portfolio, making the stock its 11th largest position. Greystone Financial Group LLC’s holdings in Bank of New York Mellon were worth $15,310,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Westside Investment Management Inc. lifted its position 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 in the last quarter. Hoey Investments Inc. bought a new position in shares of Bank of New York Mellon in the second quarter worth about $32,000. GFG Capital LLC acquired a new position in shares of Bank of New York Mellon during the second quarter worth approximately $36,000. Caldwell Trust Co bought a new stake in shares of Bank of New York Mellon during the second quarter valued at approximately $36,000. Finally, Princeton Global Asset Management LLC increased its holdings in shares of Bank of New York Mellon by 89.0% in the second quarter. Princeton Global Asset Management LLC now owns 446 shares of the bank’s stock valued at $41,000 after purchasing an additional 210 shares in the last quarter. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Bank of New York Mellon Trading Up 0.8%

NYSE:BK opened at $117.00 on Monday. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.83. The Bank of New York Mellon Corporation has a 1-year low of $70.46 and a 1-year high of $119.40. The firm has a market capitalization of $81.59 billion, a price-to-earnings ratio of 16.88, a PEG ratio of 0.96 and a beta of 1.11. The business’s 50-day moving average price is $112.41 and its two-hundred day moving average price is $105.58.

Bank of New York Mellon (NYSE:BK) last posted its earnings results on Friday, October 31st. The bank reported $1.91 earnings per share (EPS) for the quarter. The company had revenue of $5.07 billion during the quarter. Bank of New York Mellon had a return on equity of 14.03% and a net margin of 12.86%. On average, equities analysts expect that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 7th. Shareholders of record on Monday, October 27th were paid a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend was Monday, October 27th. Bank of New York Mellon’s dividend payout ratio is presently 30.59%.

Analyst Ratings Changes

Several research analysts have issued reports on BK shares. BMO Capital Markets assumed coverage on Bank of New York Mellon in a report on Friday, October 3rd. They set an “outperform” rating and a $125.00 price objective on the stock. 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 note on Friday, October 17th. Keefe, Bruyette & Woods lifted their price objective 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. Weiss Ratings restated a “buy (b+)” rating on shares of Bank of New York Mellon in a research report on Monday, December 29th. Finally, Morgan Stanley raised their target price on shares of Bank of New York Mellon from $118.00 to $124.00 and gave the company an “overweight” rating in a research note on Wednesday, December 17th. Ten research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $111.86.

Bank of New York Mellon Profile

Bank of New York Mellon Corporation (BNY Mellon) is a global financial services company headquartered in New York City that provides a wide range of asset servicing, custody, and related financial infrastructure solutions to institutional clients. Its core businesses include custody and asset servicing, clearing and collateral management, treasury services, securities lending, corporate trust services, and depositary receipt administration. The company also offers investment management and advisory services through its asset management arm and provides technology-enabled solutions for trade processing, foreign exchange, and liquidity management.

BNY Mellon serves a broad client base that includes asset managers, pension funds, corporations, banks, broker-dealers and sovereign entities.