Mutual of America Capital Management LLC Sells 5,602 Shares of The Bank of New York Mellon Corporation $BK

Mutual of America Capital Management LLC lowered its position in The Bank of New York Mellon Corporation (NYSE:BK) by 6.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 76,448 shares of the bank’s stock after selling 5,602 shares during the period. Mutual of America Capital Management LLC’s holdings in Bank of New York Mellon were worth $8,330,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Revolve Wealth Partners LLC bought a new stake in shares of Bank of New York Mellon in the fourth quarter worth about $220,000. Sivia Capital Partners LLC grew its position in shares of Bank of New York Mellon by 36.6% in the 2nd quarter. Sivia Capital Partners LLC now owns 3,394 shares of the bank’s stock valued at $309,000 after purchasing an additional 909 shares during the period. Fort Washington Investment Advisors Inc. OH increased its stake in Bank of New York Mellon by 7.0% during the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 10,165 shares of the bank’s stock worth $926,000 after purchasing an additional 663 shares in the last quarter. GC Wealth Management RIA LLC acquired a new stake in Bank of New York Mellon during the 2nd quarter worth approximately $342,000. Finally, Janney Montgomery Scott LLC lifted its stake in Bank of New York Mellon by 2.3% in the second quarter. Janney Montgomery Scott LLC now owns 133,089 shares of the bank’s stock valued at $12,126,000 after buying an additional 2,965 shares in the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Analyst Ratings Changes

BK has been the subject of several research reports. Keefe, Bruyette & Woods increased their price objective on shares of Bank of New York Mellon from $132.00 to $143.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 14th. Royal Bank Of Canada lifted their price target on Bank of New York Mellon from $124.00 to $130.00 and gave the company a “sector perform” rating in a research note on Wednesday, January 14th. TD Cowen boosted their price target on Bank of New York Mellon from $133.00 to $145.00 and gave the company a “buy” rating in a report on Wednesday, January 7th. Truist Financial upgraded Bank of New York Mellon from a “hold” rating to a “buy” rating and increased their price objective for the stock from $119.00 to $134.00 in a report on Wednesday, January 7th. Finally, Evercore ISI lifted their target price on Bank of New York Mellon from $91.00 to $110.00 and gave the company an “in-line” rating in a research report on Tuesday, September 30th. Eight investment 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 a consensus rating of “Moderate Buy” and an average price target of $131.92.

Bank of New York Mellon Price Performance

Shares of NYSE BK opened at $118.98 on Wednesday. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.71 and a quick ratio of 0.70. The business has a 50-day moving average of $116.41 and a 200-day moving average of $109.06. The stock has a market capitalization of $82.97 billion, a price-to-earnings ratio of 16.06, a PEG ratio of 1.11 and a beta of 1.11. The Bank of New York Mellon Corporation has a fifty-two week low of $70.46 and a fifty-two week high of $125.89.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings results on Friday, October 31st. The bank reported $1.91 EPS for the quarter. The firm had revenue of $5.07 billion during the quarter. Bank of New York Mellon had a return on equity of 14.37% and a net margin of 13.62%. As a group, sell-side analysts predict 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 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 5th. Investors of record on Friday, January 23rd will be paid a $0.53 dividend. The ex-dividend date of this dividend is Friday, January 23rd. This represents a $2.12 annualized dividend and a dividend yield of 1.8%. Bank of New York Mellon’s dividend payout ratio (DPR) is currently 28.61%.

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.