ProShare Advisors LLC Cuts Position in The Bank of New York Mellon Corporation $BK

ProShare Advisors LLC trimmed its holdings in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 4.7% during the third quarter, HoldingsChannel reports. The institutional investor owned 150,885 shares of the bank’s stock after selling 7,448 shares during the quarter. ProShare Advisors LLC’s holdings in Bank of New York Mellon were worth $16,440,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of BK. Oppenheimer & Co. Inc. increased its position in shares of Bank of New York Mellon by 54.3% in the third quarter. Oppenheimer & Co. Inc. now owns 56,670 shares of the bank’s stock worth $6,175,000 after acquiring an additional 19,951 shares in the last quarter. Western Wealth Management LLC boosted its position in Bank of New York Mellon by 5.5% during the 3rd quarter. Western Wealth Management LLC now owns 10,138 shares of the bank’s stock worth $1,105,000 after purchasing an additional 533 shares during the period. REAP Financial Group LLC boosted its position in Bank of New York Mellon by 15.3% during the 3rd quarter. REAP Financial Group LLC now owns 1,073 shares of the bank’s stock worth $117,000 after purchasing an additional 142 shares during the period. Sunesis Advisors LLC acquired a new stake in Bank of New York Mellon in the 3rd quarter valued at $2,009,000. Finally, Smartleaf Asset Management LLC raised its position in Bank of New York Mellon by 48.1% in the third quarter. Smartleaf Asset Management LLC now owns 6,697 shares of the bank’s stock valued at $735,000 after purchasing an additional 2,175 shares during the period. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BK has been the subject of several analyst reports. Citigroup upped their target price on Bank of New York Mellon from $120.00 to $136.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 14th. Weiss Ratings raised Bank of New York Mellon from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Tuesday, January 27th. TD Cowen upped their price target on Bank of New York Mellon from $133.00 to $145.00 and gave the stock a “buy” rating in a report on Wednesday, January 7th. Keefe, Bruyette & Woods increased their price objective on shares of Bank of New York Mellon from $132.00 to $143.00 and gave the company an “outperform” rating in a research report on Wednesday, January 14th. Finally, Barclays boosted their target price on shares of 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. One research analyst has rated the stock with a Strong Buy rating, seven have assigned 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 an average price target of $131.92.

Bank of New York Mellon Stock Performance

Shares of BK opened at $126.49 on Wednesday. The firm has a market cap of $88.21 billion, a price-to-earnings ratio of 17.07, a PEG ratio of 1.19 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. The business’s 50 day moving average is $118.90 and its two-hundred day moving average is $110.75. The Bank of New York Mellon Corporation has a 52-week low of $70.46 and a 52-week high of $128.76.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings results on Friday, October 31st. The bank reported $1.91 earnings per share for the quarter. The business had revenue of $5.07 billion during the quarter. Bank of New York Mellon had a net margin of 13.62% and a return on equity of 14.37%. Analysts forecast that The Bank of New York Mellon Corporation will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, February 5th. Stockholders of record on Friday, January 23rd were given a $0.53 dividend. The ex-dividend date of this dividend was Friday, January 23rd. This represents a $2.12 annualized dividend and a dividend yield of 1.7%. Bank of New York Mellon’s payout ratio is presently 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.