Matthew Goff Investment Advisor LLC Acquires 1,577 Shares of Bank of New York Mellon Corp (BK)

Matthew Goff Investment Advisor LLC boosted its holdings in Bank of New York Mellon Corp (NYSE:BK) by 1.3% in the 3rd quarter, Holdings Channel reports. The firm owned 122,622 shares of the bank’s stock after purchasing an additional 1,577 shares during the period. Bank of New York Mellon comprises approximately 1.6% of Matthew Goff Investment Advisor LLC’s portfolio, making the stock its 22nd largest holding. Matthew Goff Investment Advisor LLC’s holdings in Bank of New York Mellon were worth $6,253,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Strategic Wealth Partners Ltd. increased its position in shares of Bank of New York Mellon by 8.2% in the third quarter. Strategic Wealth Partners Ltd. now owns 18,876 shares of the bank’s stock valued at $963,000 after acquiring an additional 1,432 shares during the period. Great Lakes Advisors LLC purchased a new position in shares of Bank of New York Mellon in the third quarter valued at about $210,000. Belpointe Asset Management LLC purchased a new position in shares of Bank of New York Mellon in the third quarter valued at about $209,000. Morgan Stanley increased its position in shares of Bank of New York Mellon by 7.9% in the third quarter. Morgan Stanley now owns 9,132,243 shares of the bank’s stock valued at $465,653,000 after acquiring an additional 671,263 shares during the period. Finally, Legal & General Group Plc increased its position in shares of Bank of New York Mellon by 2.7% in the third quarter. Legal & General Group Plc now owns 4,453,946 shares of the bank’s stock valued at $227,120,000 after acquiring an additional 116,128 shares during the period. 84.06% of the stock is owned by institutional investors and hedge funds.

Several equities analysts recently issued reports on the stock. Wolfe Research assumed coverage on shares of Bank of New York Mellon in a research report on Tuesday, September 25th. They set an “underperform” rating on the stock. Citigroup reduced their price target on shares of Bank of New York Mellon from $66.00 to $60.00 and set a “buy” rating on the stock in a research report on Friday, October 19th. Deutsche Bank reduced their price target on shares of Bank of New York Mellon from $55.00 to $54.00 and set a “buy” rating on the stock in a research report on Friday, November 16th. Zacks Investment Research upgraded shares of Bank of New York Mellon from a “sell” rating to a “hold” rating and set a $57.00 price target on the stock in a research report on Monday, September 17th. Finally, Keefe, Bruyette & Woods cut shares of Bank of New York Mellon from a “market perform” rating to an “underperform” rating and reduced their price target for the company from $55.00 to $49.00 in a research report on Friday, October 19th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company’s stock. Bank of New York Mellon presently has an average rating of “Hold” and an average target price of $57.77.

BK traded down $0.88 during midday trading on Thursday, reaching $47.82. The company’s stock had a trading volume of 1,331,701 shares, compared to its average volume of 5,300,959. The stock has a market cap of $48.15 billion, a PE ratio of 13.27, a price-to-earnings-growth ratio of 1.51 and a beta of 1.04. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.69 and a current ratio of 0.69. Bank of New York Mellon Corp has a 1 year low of $45.16 and a 1 year high of $58.99.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings data on Thursday, October 18th. The bank reported $1.06 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.04 by $0.02. The business had revenue of $4.07 billion for the quarter, compared to analysts’ expectations of $4.15 billion. Bank of New York Mellon had a net margin of 24.92% and a return on equity of 11.48%. The business’s revenue was up 1.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.94 earnings per share. Equities research analysts predict that Bank of New York Mellon Corp will post 4.17 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 9th. Shareholders of record on Tuesday, October 30th were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date was Monday, October 29th. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 31.11%.

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About Bank of New York Mellon

The Bank of New York Mellon Corporation provides a range of financial products and services to institutions, corporations, and high net worth individuals in the United States and internationally. The company operates through two segments, Investment Management and Investment Services. It offers investment management, custody, foreign exchange, fund broker-dealer, collateral and liquidity, clearing, corporate trust, global payment, trade finance, and cash management services, as well as securities finance and depositary receipts.

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Institutional Ownership by Quarter for Bank of New York Mellon (NYSE:BK)

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