CSM Advisors LLC Lowers Holdings in The Bank of New York Mellon Corporation $BK

Key Points

• CSM Advisors LLC trimmed its stake in The Bank of New York Mellon by 22.2% in the third quarter, selling 94,365 shares and leaving 330,650 shares worth about $36.03 million (BNY Mellon was ~1.0% of CSM's holdings and its 20th-largest position).
• Analysts are generally positive, with a consensus rating of "Moderate Buy" and an average target price of $131.92 after recent price-target raises from firms including TD Cowen and Barclays.
• BNY Mellon trades with a market cap near $80 billion, a P/E of about 15.7, a 52-week range of $70.46–$128.76, and pays a quarterly dividend of $0.53 (annualized $2.12) for a yield around 1.8%.

CSM Advisors LLC trimmed its stake in shares of The Bank of New York Mellon Corporation (NYSE:BK - Free Report) by 22.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 330,650 shares of the bank's stock after selling 94,365 shares during the period. Bank of New York Mellon comprises 1.0% of CSM Advisors LLC's holdings, making the stock its 20th largest position. CSM Advisors LLC's holdings in Bank of New York Mellon were worth $36,028,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of BK. Valley Wealth Managers Inc. purchased a new stake in Bank of New York Mellon in the 3rd quarter worth approximately $33,000. Caldwell Trust Co purchased a new position in shares of Bank of New York Mellon during the 2nd quarter valued at approximately $36,000. Westside Investment Management Inc. increased its holdings in shares of 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 in the last quarter. Dunhill Financial LLC lifted its stake in shares of Bank of New York Mellon by 130.8% in the 3rd quarter. Dunhill Financial LLC now owns 427 shares of the bank's stock valued at $47,000 after purchasing an additional 242 shares during the period. Finally, Community Bank N.A. lifted 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 valued at $48,000 after purchasing an additional 313 shares during the period. 85.31% of the stock is owned by institutional investors and hedge funds.

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 company has a fifty day moving average of $119.65 and a two-hundred day moving average of $113.22. The stock 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 fifty-two week low of $70.46 and a fifty-two 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 earnings per share (EPS) 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 for the quarter. As a group, research analysts forecast 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 business also recently declared a quarterly dividend, which was paid on Thursday, February 5th. Investors of record on Friday, January 23rd were paid a $0.53 dividend. The ex-dividend date of this dividend 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 currently 28.61%.

Analyst Ratings Changes

BK has been the topic of several analyst reports. TD Cowen raised their price target 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. Royal Bank Of Canada upped their price objective on shares of 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. Citigroup assumed coverage on shares of Bank of New York Mellon in a research note on Monday, February 23rd. They set a "neutral" rating on the stock. New Street Research set a $143.00 target price on Bank of New York Mellon in a research report on Wednesday, January 14th. Finally, Barclays upped their price target on Bank of New York Mellon from $120.00 to $143.00 and gave the stock an "overweight" rating in a report on Monday, January 5th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price 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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