20,474 Shares in The Bank of New York Mellon Corporation $BK Bought by MainStreet Investment Advisors LLC

MainStreet Investment Advisors LLC purchased a new position in shares of The Bank of New York Mellon Corporation (NYSE:BK) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 20,474 shares of the bank’s stock, valued at approximately $2,231,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Ashton Thomas Private Wealth LLC increased its stake in Bank of New York Mellon by 133.2% in the third quarter. Ashton Thomas Private Wealth LLC now owns 91,762 shares of the bank’s stock valued at $9,998,000 after purchasing an additional 52,412 shares during the period. Jones Financial Companies Lllp grew its holdings in shares of Bank of New York Mellon by 35.1% during the third quarter. Jones Financial Companies Lllp now owns 31,848 shares of the bank’s stock worth $3,487,000 after buying an additional 8,277 shares during the last quarter. Investment Management Corp of Ontario increased its position in Bank of New York Mellon by 25.9% in the 2nd quarter. Investment Management Corp of Ontario now owns 125,506 shares of the bank’s stock valued at $11,435,000 after acquiring an additional 25,842 shares during the period. First National Advisers LLC purchased a new stake in Bank of New York Mellon during the 3rd quarter valued at approximately $3,304,000. Finally, First Horizon Corp purchased a new stake in Bank of New York Mellon during the 3rd quarter valued at approximately $22,072,000. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Morgan Stanley upped their price target on Bank of New York Mellon from $124.00 to $132.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 14th. Barclays raised their target price on shares of Bank of New York Mellon from $120.00 to $143.00 and gave the stock an “overweight” rating in a research note on Monday, January 5th. Weiss Ratings downgraded shares of Bank of New York Mellon from a “buy (a-)” rating to a “buy (b+)” rating in a report on Friday, February 13th. TD Cowen increased their price target on shares of Bank of New York Mellon from $133.00 to $145.00 and gave the stock a “buy” rating in a report on Wednesday, January 7th. Finally, Truist Financial upgraded Bank of New York Mellon from a “hold” rating to a “buy” rating and boosted their target price for the stock from $119.00 to $134.00 in a research report on Wednesday, January 7th. Eight equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $131.92.

Bank of New York Mellon Stock Performance

BK opened at $118.16 on Monday. The Bank of New York Mellon Corporation has a 1-year low of $70.46 and a 1-year high of $128.76. The stock has a market cap of $82.40 billion, a P/E ratio of 15.95, a P/E/G ratio of 1.10 and a beta of 1.10. The stock’s 50 day simple moving average is $119.33 and its 200 day simple moving average is $111.71. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.71 and a quick ratio of 0.70.

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. The company had revenue of $5.07 billion for the quarter. Bank of New York Mellon had a return on equity of 14.37% and a net margin of 13.62%. As a group, equities analysts anticipate that The Bank of New York Mellon Corporation will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 5th. Investors of record on Friday, January 23rd were paid a dividend of $0.53 per share. The ex-dividend date of this dividend was Friday, January 23rd. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.8%. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 28.61%.

About Bank of New York Mellon

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.