Wealth Enhancement Advisory Services LLC Has $51.54 Million Holdings in The Bank of New York Mellon Corporation $BK

Wealth Enhancement Advisory Services LLC boosted its position in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 26.6% in the fourth quarter, Holdings Channel reports. The fund owned 424,838 shares of the bank’s stock after acquiring an additional 89,316 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Bank of New York Mellon were worth $51,539,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Revolve Wealth Partners LLC bought a new stake in Bank of New York Mellon during the 4th quarter valued at approximately $220,000. Sivia Capital Partners LLC increased its position in 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 period. DNB Asset Management AS increased its position in Bank of New York Mellon by 0.9% in the 2nd quarter. DNB Asset Management AS now owns 137,099 shares of the bank’s stock worth $12,491,000 after buying an additional 1,240 shares during the period. MAI Capital Management lifted its holdings in shares of Bank of New York Mellon by 0.5% during the second quarter. MAI Capital Management now owns 76,548 shares of the bank’s stock worth $6,974,000 after buying an additional 361 shares during the last quarter. Finally, Mufg Securities Americas Inc. lifted its holdings in shares of Bank of New York Mellon by 21.1% during the second quarter. Mufg Securities Americas Inc. now owns 17,153 shares of the bank’s stock worth $1,563,000 after buying an additional 2,983 shares during the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on BK. Wells Fargo & Company raised their price objective on shares of Bank of New York Mellon from $119.00 to $122.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 14th. Truist Financial raised shares of Bank of New York Mellon from a “hold” rating to a “buy” rating and increased their price target for the company from $119.00 to $134.00 in a report on Wednesday, January 7th. Morgan Stanley raised 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. Royal Bank Of Canada boosted their price objective on shares of Bank of New York Mellon from $124.00 to $130.00 and gave the stock a “sector perform” rating in a report on Wednesday, January 14th. Finally, New Street Research set a $143.00 price objective on shares of Bank of New York Mellon in a research report on Wednesday, January 14th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Bank of New York Mellon has a consensus rating of “Moderate Buy” and a consensus target price of $131.92.

Bank of New York Mellon Stock Performance

Shares of NYSE BK opened at $114.87 on Monday. The firm has a market capitalization of $79.06 billion, a price-to-earnings ratio of 15.50, a PEG ratio of 1.07 and a beta of 1.10. The Bank of New York Mellon Corporation has a one year low of $70.46 and a one year high of $128.76. The business has a fifty day simple moving average of $119.13 and a 200 day simple moving average of $113.63. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.81.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings results on Friday, October 31st. The bank reported $1.91 earnings per share for the quarter. Bank of New York Mellon had a net margin of 13.62% and a return on equity of 14.37%. The firm had revenue of $5.07 billion for the quarter. Sell-side analysts expect that The Bank of New York Mellon Corporation will post 6.96 EPS for the current year.

Bank of New York Mellon Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 5th. Investors of record on Friday, January 23rd were paid a $0.53 dividend. The ex-dividend date of this dividend 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 payout ratio is presently 28.61%.

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.