Truist Financial Corp Has $233.21 Million Position in The Bank of New York Mellon Corporation $BK

Truist Financial Corp boosted its holdings in The Bank of New York Mellon Corporation (NYSE:BK) by 3.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,140,358 shares of the bank’s stock after acquiring an additional 79,123 shares during the period. Truist Financial Corp’s holdings in Bank of New York Mellon were worth $233,213,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BK. Westside Investment Management Inc. raised its position in shares of Bank of New York Mellon by 78.9% in the second quarter. Westside Investment Management Inc. now owns 288 shares of the bank’s stock valued at $26,000 after purchasing an additional 127 shares during the period. GFG Capital LLC acquired a new position in Bank of New York Mellon in the 2nd quarter valued at about $36,000. Caldwell Trust Co bought a new position in Bank of New York Mellon in the 2nd quarter valued at about $36,000. Princeton Global Asset Management LLC lifted its position in Bank of New York Mellon by 89.0% during the second quarter. Princeton Global Asset Management LLC now owns 446 shares of the bank’s stock worth $41,000 after acquiring an additional 210 shares during the last quarter. Finally, Quaker Wealth Management LLC boosted its holdings in shares of Bank of New York Mellon by 198.9% during the second quarter. Quaker Wealth Management LLC now owns 450 shares of the bank’s stock worth $41,000 after acquiring an additional 905 shares during the period. 85.31% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on BK shares. Wells Fargo & Company increased their target price on 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. Royal Bank Of Canada increased their price objective on Bank of New York Mellon from $124.00 to $130.00 and gave the stock a “sector perform” rating in a research report on Wednesday, January 14th. Weiss Ratings reissued a “buy (b+)” rating on shares of Bank of New York Mellon in a research report on Monday, December 29th. Morgan Stanley upped their price target on shares of Bank of New York Mellon from $124.00 to $132.00 and gave the company an “overweight” rating in a research note on Wednesday, January 14th. Finally, BMO Capital Markets initiated coverage on shares of Bank of New York Mellon in a research note on Friday, October 3rd. They issued an “outperform” rating and a $125.00 price objective for the company. Eight analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, Bank of New York Mellon has a consensus rating of “Moderate Buy” and a consensus price target of $131.92.

Bank of New York Mellon Price Performance

BK stock opened at $118.98 on Wednesday. The company’s 50-day moving average price is $116.41 and its two-hundred day moving average price is $109.06. The firm has a market cap of $82.97 billion, a P/E ratio of 16.06, a P/E/G ratio of 1.11 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 12 month low of $70.46 and a 12 month high of $125.89.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings results on Friday, October 31st. The bank reported $1.91 earnings per share (EPS) for the quarter. The business had revenue of $5.07 billion for the quarter. Bank of New York Mellon had a net margin of 13.62% and a return on equity of 14.37%. On average, analysts anticipate 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 firm also recently declared a quarterly dividend, which will be paid on Thursday, February 5th. Stockholders of record on Friday, January 23rd will be paid 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 dividend payout ratio (DPR) is presently 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.