Wealthfront Advisers LLC Raises Stock Holdings in The Bank of New York Mellon Corporation $BK

Wealthfront Advisers LLC raised its position in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 8.4% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 94,536 shares of the bank’s stock after purchasing an additional 7,336 shares during the quarter. Wealthfront Advisers LLC’s holdings in Bank of New York Mellon were worth $10,301,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. Valeo Financial Advisors LLC grew its stake in shares of Bank of New York Mellon by 1.3% in the third quarter. Valeo Financial Advisors LLC now owns 7,539 shares of the bank’s stock worth $821,000 after purchasing an additional 94 shares during the last quarter. Ferguson Wellman Capital Management Inc. lifted its stake in Bank of New York Mellon by 0.4% in the third quarter. Ferguson Wellman Capital Management Inc. now owns 24,752 shares of the bank’s stock worth $2,697,000 after acquiring an additional 96 shares during the period. Leonard Rickey Investment Advisors P.L.L.C. boosted its holdings in Bank of New York Mellon by 1.9% in the third quarter. Leonard Rickey Investment Advisors P.L.L.C. now owns 5,192 shares of the bank’s stock valued at $566,000 after acquiring an additional 98 shares in the last quarter. Tiemann Investment Advisors LLC raised its holdings in Bank of New York Mellon by 2.9% in the 2nd quarter. Tiemann Investment Advisors LLC now owns 3,492 shares of the bank’s stock worth $318,000 after purchasing an additional 100 shares in the last quarter. Finally, Cary Street Partners Investment Advisory LLC raised its holdings in Bank of New York Mellon by 13.7% in the 2nd quarter. Cary Street Partners Investment Advisory LLC now owns 828 shares of the bank’s stock worth $75,000 after purchasing an additional 100 shares in the last quarter. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Stock Performance

Shares of Bank of New York Mellon stock opened at $121.67 on Thursday. The Bank of New York Mellon Corporation has a 1 year low of $70.46 and a 1 year high of $128.76. The firm’s 50-day moving average is $119.07 and its 200 day moving average is $110.83. The stock has a market cap of $84.85 billion, a price-to-earnings ratio of 16.42, a PEG ratio of 1.18 and a beta of 1.10. 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 issued its earnings results on Friday, October 31st. The bank reported $1.91 earnings per share (EPS) for the quarter. The business had revenue of $5.07 billion during the quarter. Bank of New York Mellon had a net margin of 13.62% and a return on equity of 14.37%. Sell-side 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 firm also recently announced a quarterly dividend, which was paid on Thursday, February 5th. Shareholders of record on Friday, January 23rd were paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 1.7%. The ex-dividend date was Friday, January 23rd. Bank of New York Mellon’s dividend payout ratio (DPR) is currently 28.61%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Keefe, Bruyette & Woods boosted their price target on shares of Bank of New York Mellon from $132.00 to $143.00 and gave the company an “outperform” rating in a research report on Wednesday, January 14th. New Street Research set a $143.00 target price on Bank of New York Mellon in a research note 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. Truist Financial upgraded shares of Bank of New York Mellon from a “hold” rating to a “buy” rating and boosted their target price for the company from $119.00 to $134.00 in a report on Wednesday, January 7th. Finally, Weiss Ratings raised shares of Bank of New York Mellon from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Tuesday, January 27th. One 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. According to MarketBeat.com, Bank of New York Mellon presently has an average rating of “Moderate Buy” and an average price target of $131.92.

Bank of New York Mellon Company 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.