Crossmark Global Holdings Inc. Acquires 18,820 Shares of The Bank of New York Mellon Corporation $BK

Key Points

• Crossmark Global Holdings Inc. increased its stake in Bank of New York Mellon by 15.6%, purchasing 18,820 shares to own 139,637 shares valued at about $15.2 million at the end of the quarter.
• BNY Mellon reported quarterly EPS of $1.91 on $5.07 billion in revenue, trades near $116.73 with a one‑year range of $70.46–$128.76, has a market cap of roughly $80.2 billion and a P/E of 15.8, and pays a $0.53 quarterly dividend (about a 1.8% yield).
• Analyst sentiment is broadly positive—eight Buys vs. four Holds—with an average price target of $131.92 and several recent upgrades and higher targets (e.g., TD Cowen to $145, New Street to $143).

Crossmark Global Holdings Inc. increased its holdings in The Bank of New York Mellon Corporation (NYSE:BK - Free Report) by 15.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 139,637 shares of the bank's stock after purchasing an additional 18,820 shares during the quarter. Crossmark Global Holdings Inc.'s holdings in Bank of New York Mellon were worth $15,215,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of BK. Valley Wealth Managers Inc. acquired a new stake in shares of Bank of New York Mellon in the third quarter valued at about $33,000. Caldwell Trust Co bought a new stake in Bank of New York Mellon in the second quarter valued at approximately $36,000. Westside Investment Management Inc. increased its position in Bank of New York Mellon by 44.1% during the 3rd quarter. Westside Investment Management Inc. now owns 415 shares of the bank's stock valued at $45,000 after purchasing an additional 127 shares during the period. Dunhill Financial LLC raised its holdings in Bank of New York Mellon by 130.8% during the 3rd quarter. Dunhill Financial LLC now owns 427 shares of the bank's stock worth $47,000 after purchasing an additional 242 shares during the last quarter. Finally, Cornerstone Planning Group LLC raised its holdings in Bank of New York Mellon by 73.2% during the 3rd quarter. Cornerstone Planning Group LLC now owns 511 shares of the bank's stock worth $55,000 after purchasing an additional 216 shares during the last quarter. 85.31% of the stock is owned by institutional investors.

Bank of New York Mellon Stock Performance

Shares of BK opened at $116.73 on Friday. The Bank of New York Mellon Corporation has a one year low of $70.46 and a one year high of $128.76. The company has a market cap of $80.18 billion, a PE ratio of 15.75, a P/E/G ratio of 1.11 and a beta of 1.10. The stock has a 50-day moving average of $119.74 and a 200-day moving average of $112.57. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.71 and a quick ratio of 0.71.

Bank of New York Mellon (NYSE:BK - Get Free Report) last posted its quarterly earnings results on Friday, October 31st. The bank reported $1.91 earnings per share for the quarter. Bank of New York Mellon had a return on equity of 14.37% and a net margin of 13.62%.The business had revenue of $5.07 billion for the quarter. On average, equities research analysts predict 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 firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 5th. Shareholders of record on Friday, January 23rd were issued a dividend of $0.53 per share. The ex-dividend date was Friday, January 23rd. This represents a $2.12 annualized dividend and a yield of 1.8%. Bank of New York Mellon's dividend payout ratio is presently 28.61%.

Analyst Ratings Changes

BK has been the subject of several recent analyst reports. New Street Research set a $143.00 price objective on shares of Bank of New York Mellon in a research report on Wednesday, January 14th. Truist Financial upgraded Bank of New York Mellon from a "hold" rating to a "buy" rating and increased their price target for the stock from $119.00 to $134.00 in a report on Wednesday, January 7th. Weiss Ratings downgraded Bank of New York Mellon from a "buy (a-)" rating to a "buy (b+)" rating in a research note on Friday, February 13th. TD Cowen raised their target price on Bank of New York Mellon from $133.00 to $145.00 and gave the stock a "buy" rating in a research note on Wednesday, January 7th. Finally, Morgan Stanley lifted their target price on 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. Eight research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $131.92.

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.

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