Rogco LP Invests $625,000 in The Bank of New York Mellon Corporation $BK

Rogco LP acquired a new stake in The Bank of New York Mellon Corporation (NYSE:BK) in the third quarter, Holdings Channel.com reports. The institutional investor acquired 5,738 shares of the bank’s stock, valued at approximately $625,000.

Several other large investors also recently modified their holdings of BK. Westside Investment Management Inc. boosted its position in Bank of New York Mellon by 78.9% during the second quarter. Westside Investment Management Inc. now owns 288 shares of the bank’s stock worth $26,000 after purchasing an additional 127 shares during the period. GFG Capital LLC purchased a new stake in shares of Bank of New York Mellon during the 2nd quarter valued at approximately $36,000. Caldwell Trust Co bought a new position in Bank of New York Mellon in the 2nd quarter worth approximately $36,000. Princeton Global Asset Management LLC boosted its holdings in Bank of New York Mellon by 89.0% in the 2nd quarter. Princeton Global Asset Management LLC now owns 446 shares of the bank’s stock worth $41,000 after buying an additional 210 shares during the period. Finally, Quaker Wealth Management LLC grew its stake in Bank of New York Mellon by 198.9% in the 2nd quarter. Quaker Wealth Management LLC now owns 450 shares of the bank’s stock valued at $41,000 after buying an additional 905 shares in the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Stock Down 0.8%

BK opened at $119.70 on Thursday. The stock has a market cap of $83.47 billion, a PE ratio of 16.15, a P/E/G ratio of 1.13 and a beta of 1.11. The company has a quick ratio of 0.70, a current ratio of 0.71 and a debt-to-equity ratio of 0.81. The Bank of New York Mellon Corporation has a 52 week low of $70.46 and a 52 week high of $125.89. The business’s fifty day simple moving average is $115.61 and its 200 day simple moving average is $108.23.

Bank of New York Mellon (NYSE:BK) last issued its earnings results on Friday, October 31st. The bank reported $1.91 earnings per share (EPS) for the quarter. Bank of New York Mellon had a return on equity of 14.37% and a net margin of 13.62%.The business had revenue of $5.07 billion during the quarter. As a group, 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 business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 5th. Stockholders of record on Friday, January 23rd will be issued a $0.53 dividend. The ex-dividend date is Friday, January 23rd. This represents a $2.12 annualized dividend and a dividend yield of 1.8%. Bank of New York Mellon’s payout ratio is currently 28.61%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on BK. New Street Research set a $143.00 price target on Bank of New York Mellon in a report on Wednesday, January 14th. Weiss Ratings restated a “buy (b+)” rating on shares of Bank of New York Mellon in a research note on Monday, December 29th. BMO Capital Markets initiated coverage on Bank of New York Mellon in a research report on Friday, October 3rd. They set an “outperform” rating and a $125.00 price target on the stock. TD Cowen raised their price objective on shares of Bank of New York Mellon from $133.00 to $145.00 and gave the company a “buy” rating in a research report on Wednesday, January 7th. Finally, Keefe, Bruyette & Woods upped their target price on shares of Bank of New York Mellon from $132.00 to $143.00 and gave the stock an “outperform” rating in a report on Wednesday, January 14th. Eight analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Bank of New York Mellon has an average rating of “Moderate Buy” and a consensus target price of $131.92.

Bank of New York Mellon Company 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.