Ritter Daniher Financial Advisory LLC DE Buys Shares of 4,352 The Bank of New York Mellon Corporation $BK

Ritter Daniher Financial Advisory LLC DE acquired a new position in shares of The Bank of New York Mellon Corporation (NYSE:BK) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 4,352 shares of the bank’s stock, valued at approximately $474,000.

Several other hedge funds also recently made changes to their positions in BK. Revolve Wealth Partners LLC bought a new position in Bank of New York Mellon during the fourth quarter worth $220,000. Sivia Capital Partners LLC lifted its position in shares of Bank of New York Mellon by 36.6% in the 2nd quarter. Sivia Capital Partners LLC now owns 3,394 shares of the bank’s stock worth $309,000 after buying an additional 909 shares during the last quarter. GC Wealth Management RIA LLC acquired a new position in shares of Bank of New York Mellon in the 2nd quarter valued at about $342,000. Janney Montgomery Scott LLC grew its position in shares of Bank of New York Mellon by 2.3% during the 2nd quarter. Janney Montgomery Scott LLC now owns 133,089 shares of the bank’s stock valued at $12,126,000 after buying an additional 2,965 shares during the last quarter. Finally, HB Wealth Management LLC raised its stake in Bank of New York Mellon by 7.4% during the second quarter. HB Wealth Management LLC now owns 32,050 shares of the bank’s stock worth $2,920,000 after acquiring an additional 2,201 shares during the period. Institutional investors and hedge funds own 85.31% of the company’s stock.

Bank of New York Mellon Trading Up 2.0%

Shares of BK opened at $121.33 on Friday. The stock has a market capitalization of $84.61 billion, a P/E ratio of 16.37, a P/E/G ratio of 1.11 and a beta of 1.11. The business’s 50-day moving average price is $116.93 and its 200 day moving average price is $109.21. The company has a current ratio of 0.71, a quick ratio of 0.70 and a debt-to-equity ratio of 0.81. The Bank of New York Mellon Corporation has a 1-year low of $70.46 and a 1-year high of $125.89.

Bank of New York Mellon (NYSE:BK) last posted its earnings results on Friday, October 31st. The bank reported $1.91 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 company had revenue of $5.07 billion during the quarter. Analysts expect that The Bank of New York Mellon Corporation 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 will be paid on Thursday, February 5th. Shareholders of record on Friday, January 23rd will be given a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 1.7%. The ex-dividend date is Friday, January 23rd. Bank of New York Mellon’s dividend payout ratio (DPR) is currently 28.61%.

Analyst Ratings Changes

A number of equities analysts have commented on BK shares. Keefe, Bruyette & Woods lifted their target price on Bank of New York Mellon from $132.00 to $143.00 and gave the company an “outperform” rating in a research note on Wednesday, January 14th. Royal Bank Of Canada boosted their price objective on Bank of New York Mellon from $124.00 to $130.00 and gave the company a “sector perform” rating in a research report on Wednesday, January 14th. Truist Financial upgraded Bank of New York Mellon from a “hold” rating to a “buy” rating and upped their price objective for the stock from $119.00 to $134.00 in a research note on Wednesday, January 7th. Weiss Ratings upgraded Bank of New York Mellon from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Tuesday. Finally, Morgan Stanley upped their price target on shares of Bank of New York Mellon from $124.00 to $132.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 14th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Bank of New York Mellon has a consensus rating of “Moderate Buy” and an average target price of $131.92.

Bank of New York Mellon Profile

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.