Vestmark Advisory Solutions Inc. Has $1.17 Million Holdings in The Bank of New York Mellon Corporation $BK

Vestmark Advisory Solutions Inc. lifted its stake in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 286.4% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 10,707 shares of the bank’s stock after acquiring an additional 7,936 shares during the period. Vestmark Advisory Solutions Inc.’s holdings in Bank of New York Mellon were worth $1,167,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Westside Investment Management Inc. grew its position in Bank of New York Mellon by 78.9% in the 2nd 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. Valley Wealth Managers Inc. bought a new position in shares of Bank of New York Mellon in the third quarter valued at $33,000. Caldwell Trust Co acquired a new position in shares of Bank of New York Mellon during the second quarter valued at about $36,000. Quaker Wealth Management LLC increased its position 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 in the last quarter. Finally, Twin Peaks Wealth Advisors LLC bought a new stake in shares of Bank of New York Mellon during the second quarter worth about $52,000. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BK has been the topic of a number of analyst reports. Morgan Stanley lifted their price objective on shares of Bank of New York Mellon from $124.00 to $132.00 and gave the stock an “overweight” rating in a report on Wednesday, January 14th. Weiss Ratings downgraded shares of Bank of New York Mellon from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Friday, February 13th. Keefe, Bruyette & Woods boosted their target price on Bank of New York Mellon from $132.00 to $143.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 14th. TD Cowen upped their target price 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. Finally, Royal Bank Of Canada lifted their price target on Bank of New York Mellon from $124.00 to $130.00 and gave the stock a “sector perform” rating in a report on Wednesday, January 14th. Eight research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $131.92.

Bank of New York Mellon Stock Performance

NYSE:BK opened at $120.26 on Thursday. The company has a market capitalization of $83.86 billion, a P/E ratio of 16.23, a P/E/G ratio of 1.09 and a beta of 1.10. The business has a fifty day simple moving average of $119.48 and a two-hundred day simple moving average of $111.96. 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 Bank of New York Mellon Corporation has a 1 year low of $70.46 and a 1 year high of $128.76.

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

Bank of New York Mellon Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, February 5th. Stockholders of record on Friday, January 23rd were issued 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 1.8%. Bank of New York Mellon’s dividend payout ratio is presently 28.61%.

About Bank of New York Mellon

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.