The Bank of New York Mellon Corporation $BK is Azimuth Capital Investment Management LLC’s 8th Largest Position

Azimuth Capital Investment Management LLC decreased its stake in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 1.7% during the third quarter, HoldingsChannel reports. The firm owned 400,707 shares of the bank’s stock after selling 6,905 shares during the quarter. Bank of New York Mellon accounts for approximately 1.6% of Azimuth Capital Investment Management LLC’s holdings, making the stock its 8th biggest position. Azimuth Capital Investment Management LLC’s holdings in Bank of New York Mellon were worth $43,661,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of BK. Valeo Financial Advisors LLC raised its stake in Bank of New York Mellon by 1.3% in the third quarter. Valeo Financial Advisors LLC now owns 7,539 shares of the bank’s stock worth $821,000 after buying an additional 94 shares in the last quarter. Ferguson Wellman Capital Management Inc. boosted its position in Bank of New York Mellon by 0.4% during the 3rd quarter. Ferguson Wellman Capital Management Inc. now owns 24,752 shares of the bank’s stock valued at $2,697,000 after acquiring an additional 96 shares in the last quarter. Leonard Rickey Investment Advisors P.L.L.C. grew its holdings in shares of Bank of New York Mellon by 1.9% during the 3rd quarter. Leonard Rickey Investment Advisors P.L.L.C. now owns 5,192 shares of the bank’s stock worth $566,000 after acquiring an additional 98 shares during the period. Angeles Wealth Management LLC raised its position in shares of Bank of New York Mellon by 2.6% in the 3rd quarter. Angeles Wealth Management LLC now owns 3,798 shares of the bank’s stock worth $414,000 after acquiring an additional 98 shares in the last quarter. Finally, Cary Street Partners Investment Advisory LLC raised its position in shares of Bank of New York Mellon by 13.7% in the 2nd quarter. Cary Street Partners Investment Advisory LLC now owns 828 shares of the bank’s stock worth $75,000 after acquiring an additional 100 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 Performance

BK stock opened at $116.18 on Friday. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.71 and a quick ratio of 0.71. The Bank of New York Mellon Corporation has a 1 year low of $70.46 and a 1 year high of $128.76. The company has a market cap of $79.96 billion, a P/E ratio of 15.68, a price-to-earnings-growth ratio of 1.08 and a beta of 1.10. The stock’s fifty day moving average price is $119.65 and its 200-day moving average price is $113.22.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings data on Friday, October 31st. The bank reported $1.91 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 company had revenue of $5.07 billion during the quarter. On average, equities analysts forecast that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 5th. Stockholders of record on Friday, January 23rd were given a dividend of $0.53 per share. The ex-dividend date of this dividend was 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 is presently 28.61%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on BK. TD Cowen lifted their price target on 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. Weiss Ratings upgraded Bank of New York Mellon from a “buy (b+)” rating to a “buy (a-)” rating in a report on Wednesday. Royal Bank Of Canada raised their price objective on Bank of New York Mellon from $124.00 to $130.00 and gave the company a “sector perform” rating in a research report on Wednesday, January 14th. Citigroup initiated coverage on shares of Bank of New York Mellon in a report on Monday, February 23rd. They set a “neutral” rating on the stock. Finally, New Street Research set a $143.00 target price on shares of Bank of New York Mellon in a research report on Wednesday, January 14th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $131.92.

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.