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

CORDA Investment Management LLC. lessened its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 3.1% during the fourth quarter, HoldingsChannel.com reports. The fund owned 706,910 shares of the bank’s stock after selling 22,421 shares during the period. Bank of New York Mellon makes up about 4.3% of CORDA Investment Management LLC.’s holdings, making the stock its biggest holding. CORDA Investment Management LLC.’s holdings in Bank of New York Mellon were worth $54,312,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Centricity Wealth Management LLC bought a new stake in shares of Bank of New York Mellon during the 4th quarter valued at approximately $39,000. Ashton Thomas Securities LLC acquired a new stake in Bank of New York Mellon in the third quarter valued at approximately $46,000. Modus Advisors LLC bought a new stake in shares of Bank of New York Mellon during the fourth quarter worth $49,000. Friedenthal Financial acquired a new position in shares of Bank of New York Mellon during the fourth quarter worth $56,000. Finally, Asset Dedication LLC lifted its stake in shares of Bank of New York Mellon by 342.1% in the 4th quarter. Asset Dedication LLC now owns 756 shares of the bank’s stock valued at $58,000 after acquiring an additional 585 shares during the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on BK. Morgan Stanley upped their target price on Bank of New York Mellon from $90.00 to $97.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Keefe, Bruyette & Woods upped their price objective on Bank of New York Mellon from $87.00 to $96.00 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. Wells Fargo & Company raised their price objective on shares of Bank of New York Mellon from $82.00 to $86.00 and gave the company an “equal weight” rating in a report on Thursday, January 16th. Barclays boosted their target price on shares of Bank of New York Mellon from $102.00 to $104.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Finally, Evercore ISI raised their price target on shares of Bank of New York Mellon from $79.00 to $83.00 and gave the company an “in-line” rating in a research note on Thursday, January 16th. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $88.00.

Bank of New York Mellon Stock Up 0.7 %

Shares of NYSE:BK opened at $86.97 on Friday. The Bank of New York Mellon Co. has a 1 year low of $52.64 and a 1 year high of $89.44. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.69 and a quick ratio of 0.70. The business’s 50-day moving average is $82.80 and its 200-day moving average is $76.93. The company has a market capitalization of $63.23 billion, a price-to-earnings ratio of 14.97, a P/E/G ratio of 0.97 and a beta of 1.08.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.18. The firm had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.66 billion. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. The company’s revenue was up 11.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.28 earnings per share. Equities research analysts predict 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 business also recently declared a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Monday, January 27th were issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date of this dividend was Monday, January 27th. Bank of New York Mellon’s payout ratio is 32.36%.

About Bank of New York Mellon

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.