The Bank of New York Mellon Corporation $BK Stock Holdings Lifted by Allworth Financial LP

Allworth Financial LP boosted its holdings in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 18.6% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 31,388 shares of the bank’s stock after acquiring an additional 4,916 shares during the quarter. Allworth Financial LP’s holdings in Bank of New York Mellon were worth $2,860,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Addison Advisors LLC raised its holdings in shares of Bank of New York Mellon by 14.0% during the 2nd quarter. Addison Advisors LLC now owns 1,289 shares of the bank’s stock valued at $117,000 after purchasing an additional 158 shares in the last quarter. Zions Bancorporation National Association UT increased its position in Bank of New York Mellon by 148.6% during the second quarter. Zions Bancorporation National Association UT now owns 1,651 shares of the bank’s stock worth $150,000 after buying an additional 987 shares during the last quarter. Midwest Trust Co bought a new position in Bank of New York Mellon during the second quarter valued at about $393,000. Acadian Asset Management LLC boosted its stake in shares of Bank of New York Mellon by 8.9% during the 2nd quarter. Acadian Asset Management LLC now owns 719,719 shares of the bank’s stock worth $65,567,000 after acquiring an additional 58,548 shares in the last quarter. Finally, CSM Advisors LLC boosted its stake in shares of Bank of New York Mellon by 1,077.9% during the 2nd quarter. CSM Advisors LLC now owns 425,015 shares of the bank’s stock worth $38,724,000 after acquiring an additional 388,932 shares in the last quarter. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BK has been the subject of several analyst reports. Keefe, Bruyette & Woods boosted their target price on Bank of New York Mellon from $120.00 to $124.00 and gave the stock an “outperform” rating in a report on Friday, October 17th. Truist Financial lifted their price target on shares of Bank of New York Mellon from $118.00 to $119.00 and gave the company a “hold” rating in a research report on Friday, October 17th. Evercore ISI upped their price objective on shares of Bank of New York Mellon from $91.00 to $110.00 and gave the stock an “in-line” rating in a report on Tuesday, September 30th. The Goldman Sachs Group raised their target price on shares of Bank of New York Mellon from $106.00 to $120.00 and gave the company a “buy” rating in a research note on Monday, October 6th. Finally, Weiss Ratings lowered shares of Bank of New York Mellon from a “buy (a-)” rating to a “buy (b)” rating in a research report on Friday, November 7th. Ten analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, Bank of New York Mellon has a consensus rating of “Moderate Buy” and a consensus target price of $111.29.

Bank of New York Mellon Stock Performance

BK opened at $112.62 on Thursday. The stock’s 50 day simple moving average is $107.46 and its 200-day simple moving average is $98.69. The company has a current ratio of 0.70, a quick ratio of 0.72 and a debt-to-equity ratio of 0.83. The stock has a market cap of $78.54 billion, a PE ratio of 16.25, a P/E/G ratio of 0.98 and a beta of 1.13. The Bank of New York Mellon Corporation has a 1 year low of $70.46 and a 1 year high of $113.74.

Bank of New York Mellon (NYSE:BK) last issued its earnings results on Tuesday, March 26th. The bank reported $1.30 EPS for the quarter. Bank of New York Mellon had a return on equity of 14.03% and a net margin of 12.86%.The firm had revenue of $4.38 billion during the quarter. Sell-side analysts forecast 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 Friday, November 7th. Investors of record on Monday, October 27th were paid a $0.53 dividend. The ex-dividend date of this dividend was Monday, October 27th. This represents a $2.12 dividend on an annualized basis and a yield of 1.9%. Bank of New York Mellon’s payout ratio is presently 30.59%.

Bank of New York Mellon Company Profile

The Bank of New York Mellon Corporation provides a range of financial products and services in the United States and internationally. The company operates through Securities Services, Market and Wealth Services, Investment and Wealth Management, and other segments. The Securities Services segment offers custody, trust and depositary, accounting, exchange-traded funds, middle-office solutions, transfer agency, services for private equity and real estate funds, foreign exchange, securities lending, liquidity/lending services, and data analytics.