Yousif Capital Management LLC Reduces Holdings in The Bank of New York Mellon Corporation $BK

Key Points

• Yousif Capital Management LLC has reduced its holdings in The Bank of New York Mellon Corporation by 10.4% during Q2, owning 97,066 shares worth $8.84 million after selling 11,279 shares.
• Various institutional investors, such as Hemington Wealth Management and Confluence Wealth Services, have recently increased their stakes in The Bank of New York Mellon, reflecting a trend of institutional investment in the company.
• Wall Street analysts maintain a Moderate Buy consensus rating on Bank of New York Mellon, with target prices ranging from $105 to $125, indicating potential upside growth.

Yousif Capital Management LLC decreased its holdings in The Bank of New York Mellon Corporation (NYSE:BK - Free Report) by 10.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 97,066 shares of the bank's stock after selling 11,279 shares during the quarter. Yousif Capital Management LLC's holdings in Bank of New York Mellon were worth $8,844,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Hemington Wealth Management raised its stake in Bank of New York Mellon by 6.3% during the 2nd quarter. Hemington Wealth Management now owns 1,730 shares of the bank's stock worth $157,000 after acquiring an additional 102 shares during the period. Confluence Wealth Services Inc. raised its position in shares of Bank of New York Mellon by 1.0% during the second quarter. Confluence Wealth Services Inc. now owns 11,761 shares of the bank's stock valued at $1,072,000 after buying an additional 111 shares during the last quarter. Leonard Rickey Investment Advisors P.L.L.C. raised its position in shares of Bank of New York Mellon by 2.2% during the second quarter. Leonard Rickey Investment Advisors P.L.L.C. now owns 5,094 shares of the bank's stock valued at $464,000 after buying an additional 112 shares during the last quarter. Sax Wealth Advisors LLC raised its position in shares of Bank of New York Mellon by 2.3% during the first quarter. Sax Wealth Advisors LLC now owns 5,278 shares of the bank's stock valued at $443,000 after buying an additional 117 shares during the last quarter. Finally, Y.D. More Investments Ltd raised its position in shares of Bank of New York Mellon by 13.8% during the first quarter. Y.D. More Investments Ltd now owns 1,030 shares of the bank's stock valued at $86,000 after buying an additional 125 shares during the last quarter. Hedge funds and other institutional investors own 85.31% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on BK shares. Keefe, Bruyette & Woods lifted their price objective on shares of Bank of New York Mellon from $105.00 to $113.00 and gave the company an "outperform" rating in a research report on Wednesday, July 16th. The Goldman Sachs Group raised their target price on shares of Bank of New York Mellon from $106.00 to $120.00 and gave the company a "buy" rating in a report on Monday, October 6th. BMO Capital Markets initiated coverage on shares of Bank of New York Mellon in a report on Friday, October 3rd. They issued an "outperform" rating and a $125.00 target price for the company. Citigroup raised their target price on shares of Bank of New York Mellon from $92.00 to $105.00 and gave the company a "neutral" rating in a report on Friday, September 5th. Finally, Wells Fargo & Company raised their target price on shares of Bank of New York Mellon from $96.00 to $100.00 and gave the company an "equal weight" rating in a report on Wednesday, July 16th. Ten research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, Bank of New York Mellon currently has a consensus rating of "Moderate Buy" and a consensus target price of $106.77.

Insider Activity

In other news, EVP J Kevin Mccarthy sold 20,000 shares of the business's stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $98.45, for a total transaction of $1,969,000.00. Following the completion of the sale, the executive vice president directly owned 35,115 shares of the company's stock, valued at approximately $3,457,071.75. The trade was a 36.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.14% of the company's stock.

Bank of New York Mellon Stock Up 1.6%

NYSE BK opened at $106.26 on Tuesday. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.86. The company has a fifty day moving average of $105.19 and a two-hundred day moving average of $93.97. The firm has a market capitalization of $74.94 billion, a price-to-earnings ratio of 16.22, a PEG ratio of 0.98 and a beta of 1.13. The Bank of New York Mellon Corporation has a 52 week low of $70.46 and a 52 week high of $110.87.

Bank of New York Mellon (NYSE:BK - Get Free Report) last issued its earnings results on Tuesday, March 26th. The bank reported $1.30 earnings per share (EPS) for the quarter. The firm had revenue of $4.38 billion during the quarter. Bank of New York Mellon had a net margin of 12.27% and a return on equity of 13.46%. On average, analysts predict that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current year.

Bank of New York Mellon Company Profile

The Bank of New York Mellon Corporation provides a range of financial products and services in the United States and internationally. The company operates through Securities Services, Market and Wealth Services, Investment and Wealth Management, and other segments. The Securities Services segment offers custody, trust and depositary, accounting, exchange-traded funds, middle-office solutions, transfer agency, services for private equity and real estate funds, foreign exchange, securities lending, liquidity/lending services, and data analytics.

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