The Bank of New York Mellon Corporation $BK Shares Bought by Ibex Wealth Advisors

Ibex Wealth Advisors lifted its position in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 9.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 54,952 shares of the bank’s stock after buying an additional 4,892 shares during the period. Ibex Wealth Advisors’ holdings in Bank of New York Mellon were worth $5,988,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Westside Investment Management Inc. grew its position in Bank of New York Mellon by 78.9% in the second quarter. Westside Investment Management Inc. now owns 288 shares of the bank’s stock worth $26,000 after acquiring an additional 127 shares during the period. Valley Wealth Managers Inc. acquired a new position in shares of Bank of New York Mellon in the 3rd quarter valued at $33,000. Caldwell Trust Co acquired a new position in shares of Bank of New York Mellon in the 2nd quarter valued at $36,000. Twin Peaks Wealth Advisors LLC purchased a new position in shares of Bank of New York Mellon during the 2nd quarter worth $52,000. Finally, Cornerstone Planning Group LLC increased its position in shares of Bank of New York Mellon by 73.2% during the 3rd quarter. Cornerstone Planning Group LLC now owns 511 shares of the bank’s stock worth $55,000 after purchasing an additional 216 shares during the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Price Performance

Shares of NYSE BK opened at $118.83 on Friday. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.71 and a quick ratio of 0.70. The company has a market cap of $81.62 billion, a price-to-earnings ratio of 16.04, a price-to-earnings-growth ratio of 1.14 and a beta of 1.10. The stock’s 50-day moving average is $119.68 and its two-hundred day moving average is $112.13. The Bank of New York Mellon Corporation has a 1-year low of $70.46 and a 1-year high of $128.76.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings data on Friday, October 31st. The bank reported $1.91 EPS for the quarter. Bank of New York Mellon had a return on equity of 14.37% and a net margin of 13.62%.The business had revenue of $5.07 billion during the quarter. Analysts forecast that The Bank of New York Mellon Corporation will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

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

Analyst Ratings Changes

A number of equities research analysts have weighed in on BK shares. Citigroup initiated coverage on shares of Bank of New York Mellon in a research report on Monday, February 23rd. They set a “neutral” rating for the company. New Street Research set a $143.00 target price on shares of Bank of New York Mellon in a report on Wednesday, January 14th. TD Cowen upped their price target on Bank of New York Mellon from $133.00 to $145.00 and gave the stock a “buy” rating in a research note on Wednesday, January 7th. Barclays raised their price target on Bank of New York Mellon from $120.00 to $143.00 and gave the stock an “overweight” rating in a research report on Monday, January 5th. Finally, Truist Financial raised Bank of New York Mellon from a “hold” rating to a “buy” rating and increased their target price for the stock from $119.00 to $134.00 in a research note on Wednesday, January 7th. Eight equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Bank of New York Mellon has an average 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.