CORDA Investment Management LLC. Has $54.31 Million Holdings in The Bank of New York Mellon Co. (NYSE:BK)

CORDA Investment Management LLC. lowered its holdings in The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 3.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 706,910 shares of the bank's stock after selling 22,421 shares during the period. Bank of New York Mellon makes up 4.3% of CORDA Investment Management LLC.'s portfolio, making the stock its biggest position. CORDA Investment Management LLC. owned about 0.10% of Bank of New York Mellon worth $54,312,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Arkadios Wealth Advisors purchased a new position in Bank of New York Mellon in the 3rd quarter worth approximately $339,000. Wealth Enhancement Advisory Services LLC lifted its position in shares of Bank of New York Mellon by 39.4% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 89,421 shares of the bank's stock worth $6,426,000 after purchasing an additional 25,294 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of Bank of New York Mellon by 67.8% in the third quarter. Nisa Investment Advisors LLC now owns 132,496 shares of the bank's stock valued at $9,521,000 after purchasing an additional 53,534 shares during the period. Pallas Capital Advisors LLC grew its holdings in Bank of New York Mellon by 6.5% during the 3rd quarter. Pallas Capital Advisors LLC now owns 5,426 shares of the bank's stock valued at $415,000 after purchasing an additional 331 shares in the last quarter. Finally, Valmark Advisers Inc. increased its stake in Bank of New York Mellon by 2.9% during the 3rd quarter. Valmark Advisers Inc. now owns 12,637 shares of the bank's stock worth $908,000 after buying an additional 359 shares during the period. Hedge funds and other institutional investors own 85.31% of the company's stock.

Bank of New York Mellon Stock Performance

BK stock traded down $0.63 during midday trading on Monday, reaching $88.32. The company had a trading volume of 4,374,723 shares, compared to its average volume of 4,214,114. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.83. The stock has a 50 day moving average price of $83.02 and a 200 day moving average price of $77.30. The firm has a market capitalization of $64.22 billion, a PE ratio of 15.20, a P/E/G ratio of 0.97 and a beta of 1.08. The Bank of New York Mellon Co. has a fifty-two week low of $52.64 and a fifty-two week high of $90.34.

Bank of New York Mellon (NYSE:BK - Get Free Report) last released its quarterly earnings data on Wednesday, January 15th. The bank reported $1.72 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.54 by $0.18. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. The business had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.66 billion. During the same quarter in the previous year, the firm posted $1.28 EPS. The business's revenue for the quarter was up 11.2% compared to the same quarter last year. Analysts anticipate that The Bank of New York Mellon Co. will post 6.96 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Monday, January 27th were given a dividend of $0.47 per share. The ex-dividend date was Monday, January 27th. This represents a $1.88 annualized dividend and a dividend yield of 2.13%. Bank of New York Mellon's dividend payout ratio is currently 32.36%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on BK. Truist Financial upped their price objective on shares of Bank of New York Mellon from $91.00 to $93.00 and gave the company a "buy" rating in a research report on Thursday, January 16th. Wolfe Research lowered Bank of New York Mellon from an "outperform" rating to a "peer perform" rating in a research note on Friday, January 3rd. UBS Group lifted their price objective on Bank of New York Mellon from $88.00 to $94.00 and gave the stock a "buy" rating in a report on Tuesday, January 21st. Wells Fargo & Company increased their target price on Bank of New York Mellon from $86.00 to $96.00 and gave the company an "equal weight" rating in a research note on Monday. Finally, Bank of America lifted their price target on shares of Bank of New York Mellon from $90.00 to $95.00 and gave the stock a "buy" rating in a research note on Thursday, January 16th. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $88.71.

Bank of New York Mellon 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.