Wesbanco Bank Inc. Has $989,000 Stock Position in The Bank of New York Mellon Corporation $BK

Wesbanco Bank Inc. boosted its position in The Bank of New York Mellon Corporation (NYSE:BK) by 91.6% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 9,076 shares of the bank’s stock after acquiring an additional 4,339 shares during the quarter. Wesbanco Bank Inc.’s holdings in Bank of New York Mellon were worth $989,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Rockland Trust Co. bought a new position in shares of Bank of New York Mellon in the third quarter worth about $270,000. Wealthfront Advisers LLC boosted its position in shares of Bank of New York Mellon by 8.4% in the third quarter. Wealthfront Advisers LLC now owns 94,536 shares of the bank’s stock valued at $10,301,000 after acquiring an additional 7,336 shares during the period. Prospera Financial Services Inc boosted its position in shares of Bank of New York Mellon by 40.3% in the third quarter. Prospera Financial Services Inc now owns 9,261 shares of the bank’s stock valued at $1,009,000 after acquiring an additional 2,658 shares during the period. Profund Advisors LLC grew its stake in shares of Bank of New York Mellon by 3.9% in the third quarter. Profund Advisors LLC now owns 10,782 shares of the bank’s stock worth $1,175,000 after acquiring an additional 404 shares during the last quarter. Finally, Oppenheimer & Co. Inc. raised its stake in Bank of New York Mellon by 54.3% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 56,670 shares of the bank’s stock valued at $6,175,000 after purchasing an additional 19,951 shares during the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on BK shares. Wells Fargo & Company boosted 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 report on Wednesday, January 14th. Barclays lifted their price objective on Bank of New York Mellon from $120.00 to $143.00 and gave the stock an “overweight” rating in a report on Monday, January 5th. Morgan Stanley increased their price objective on shares of Bank of New York Mellon from $124.00 to $132.00 and gave the company an “overweight” rating in a research note on Wednesday, January 14th. Keefe, Bruyette & Woods raised their price objective on shares of Bank of New York Mellon from $132.00 to $143.00 and gave the stock an “outperform” rating in a report on Wednesday, January 14th. Finally, Royal Bank Of Canada lifted their target price on shares of 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. 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 stock. According to data from MarketBeat.com, Bank of New York Mellon has a consensus rating of “Moderate Buy” and an average price target of $131.92.

Bank of New York Mellon Trading Down 3.8%

BK stock opened at $121.67 on Thursday. The business has a fifty day moving average price of $119.07 and a 200 day moving average price of $110.83. 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 Bank of New York Mellon Corporation has a fifty-two week low of $70.46 and a fifty-two week high of $128.76. The stock has a market capitalization of $84.85 billion, a price-to-earnings ratio of 16.42, a P/E/G ratio of 1.18 and a beta of 1.10.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings results on Friday, October 31st. The bank reported $1.91 earnings per share (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 expect 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 business also recently declared a quarterly dividend, which was paid on Thursday, February 5th. Investors of record on Friday, January 23rd were issued 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 dividend yield of 1.7%. Bank of New York Mellon’s dividend payout ratio (DPR) is currently 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.