US Bancorp DE Sells 10,395 Shares of The Bank of New York Mellon Corporation $BK

US Bancorp DE lowered its stake in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 5.0% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 196,996 shares of the bank’s stock after selling 10,395 shares during the period. US Bancorp DE’s holdings in Bank of New York Mellon were worth $21,465,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Ashton Thomas Private Wealth LLC grew its position in Bank of New York Mellon by 133.2% during the third quarter. Ashton Thomas Private Wealth LLC now owns 91,762 shares of the bank’s stock valued at $9,998,000 after buying an additional 52,412 shares during the period. Jones Financial Companies Lllp boosted its stake in shares of Bank of New York Mellon by 35.1% during the 3rd quarter. Jones Financial Companies Lllp now owns 31,848 shares of the bank’s stock worth $3,487,000 after acquiring an additional 8,277 shares during the last quarter. Investment Management Corp of Ontario grew its position in shares of Bank of New York Mellon by 25.9% during the 2nd quarter. Investment Management Corp of Ontario now owns 125,506 shares of the bank’s stock valued at $11,435,000 after acquiring an additional 25,842 shares during the period. First National Advisers LLC bought a new stake in shares of Bank of New York Mellon during the 3rd quarter valued at $3,304,000. Finally, First Horizon Corp bought a new position in Bank of New York Mellon in the 3rd quarter worth $22,072,000. 85.31% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on BK shares. Barclays upped their price target on Bank of New York Mellon from $120.00 to $143.00 and gave the stock an “overweight” rating in a research report on Monday, January 5th. Wells Fargo & Company raised their target price on shares of Bank of New York Mellon from $119.00 to $122.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 14th. New Street Research set a $143.00 price target on shares of Bank of New York Mellon in a research report on Wednesday, January 14th. Citigroup assumed coverage on shares of Bank of New York Mellon in a research note on Monday, February 23rd. They issued a “neutral” rating for the company. Finally, TD Cowen lifted their target price on shares of Bank of New York Mellon from $133.00 to $145.00 and gave the company a “buy” rating in a research note on Wednesday, January 7th. Eight analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $131.92.

Bank of New York Mellon Stock Down 2.3%

Shares of BK stock opened at $118.83 on Friday. The company’s fifty day simple moving average is $119.68 and its two-hundred day simple moving average is $112.13. The Bank of New York Mellon Corporation has a 52 week low of $70.46 and a 52 week high of $128.76. The stock has a market cap of $81.62 billion, a P/E ratio of 16.04, a PEG ratio of 1.14 and a beta of 1.10. The company has a quick ratio of 0.70, a current ratio of 0.71 and a debt-to-equity ratio of 0.81.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings data on Friday, October 31st. The bank reported $1.91 earnings per share 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%. Analysts predict 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 Thursday, February 5th. Stockholders of record on Friday, January 23rd were issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend was Friday, January 23rd. Bank of New York Mellon’s dividend payout ratio is 28.61%.

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.