Capitolis Liquid Global Markets LLC Buys 136,000 Shares of The Bank of New York Mellon Corporation $BK

Key Points

• Capitolis Liquid Global Markets LLC boosted its stake in The Bank of New York Mellon (NYSE:BK) by 957.7% in Q3, buying 136,000 shares to own 150,200 shares worth about $16.37 million.
• Analysts have been lifting ratings and targets—consensus is a Moderate Buy with an average target of $131.92, including recent hikes to $145 (TD Cowen) and $143 (Barclays).
• BNY Mellon pays a $0.53 quarterly dividend (annualized $2.12, yield 1.8%) and the stock trades at a PE of 15.68 with a market cap near $80 billion.

Capitolis Liquid Global Markets LLC raised its stake in shares of The Bank of New York Mellon Corporation (NYSE:BK - Free Report) by 957.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 150,200 shares of the bank's stock after buying an additional 136,000 shares during the period. Capitolis Liquid Global Markets LLC's holdings in Bank of New York Mellon were worth $16,366,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of BK. Community Bank N.A. boosted its stake in shares of Bank of New York Mellon by 250.4% in the 3rd quarter. Community Bank N.A. now owns 438 shares of the bank's stock worth $48,000 after buying an additional 313 shares during the last quarter. Banco Bilbao Vizcaya Argentaria S.A. increased its position in Bank of New York Mellon by 1.2% during the third quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 208,707 shares of the bank's stock valued at $22,741,000 after acquiring an additional 2,573 shares during the last quarter. Bank of Nova Scotia increased its position in Bank of New York Mellon by 8.6% during the third quarter. Bank of Nova Scotia now owns 707,403 shares of the bank's stock valued at $77,079,000 after acquiring an additional 56,268 shares during the last quarter. BNP Paribas lifted its holdings in Bank of New York Mellon by 7.2% in the third quarter. BNP Paribas now owns 77,384 shares of the bank's stock valued at $8,432,000 after acquiring an additional 5,200 shares during the period. Finally, Alliancebernstein L.P. lifted its holdings in Bank of New York Mellon by 1.0% in the third quarter. Alliancebernstein L.P. now owns 901,440 shares of the bank's stock valued at $98,221,000 after acquiring an additional 8,739 shares during the period. 85.31% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Truist Financial raised Bank of New York Mellon from a "hold" rating to a "buy" rating and raised their target price for the stock from $119.00 to $134.00 in a research report on Wednesday, January 7th. Barclays upped their price target on shares of Bank of New York Mellon from $120.00 to $143.00 and gave the company an "overweight" rating in a research report on Monday, January 5th. Wells Fargo & Company raised their price objective on shares of Bank of New York Mellon from $119.00 to $122.00 and gave the stock an "equal weight" rating in a report on Wednesday, January 14th. TD Cowen boosted 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 report on Wednesday, January 7th. Finally, New Street Research set a $143.00 target price on shares of Bank of New York Mellon in a report on Wednesday, January 14th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $131.92.

Bank of New York Mellon Stock Performance

NYSE:BK opened at $116.18 on Friday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.71 and a current ratio of 0.71. The stock has a 50-day simple moving average of $119.65 and a two-hundred day simple moving average of $113.22. The firm has a market capitalization of $79.96 billion, a PE ratio of 15.68, a P/E/G ratio of 1.08 and a beta of 1.10. 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 - Get Free Report) 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 firm had revenue of $5.07 billion for the quarter. Analysts forecast that The Bank of New York Mellon Corporation will post 6.96 EPS for the current year.

Bank of New York Mellon Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 5th. Shareholders of record on Friday, January 23rd were paid a dividend of $0.53 per share. The ex-dividend date was Friday, January 23rd. This represents a $2.12 dividend on an annualized basis and a yield of 1.8%. Bank of New York Mellon's dividend payout ratio (DPR) 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.

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