Sequoia Financial Advisors LLC Increases Position in The Bank of New York Mellon Corporation $BK

Sequoia Financial Advisors LLC lifted its position in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 15.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 58,187 shares of the bank’s stock after purchasing an additional 7,906 shares during the period. Sequoia Financial Advisors LLC’s holdings in Bank of New York Mellon were worth $6,340,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Revolve Wealth Partners LLC acquired a new position in shares of Bank of New York Mellon during the 4th quarter worth about $220,000. Sivia Capital Partners LLC lifted its stake in Bank of New York Mellon by 36.6% during the second quarter. Sivia Capital Partners LLC now owns 3,394 shares of the bank’s stock worth $309,000 after purchasing an additional 909 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in Bank of New York Mellon by 2.8% during the second quarter. Assenagon Asset Management S.A. now owns 55,392 shares of the bank’s stock worth $5,047,000 after purchasing an additional 1,503 shares during the last quarter. SeaCrest Wealth Management LLC boosted its holdings in Bank of New York Mellon by 3.3% in the second quarter. SeaCrest Wealth Management LLC now owns 6,204 shares of the bank’s stock valued at $565,000 after purchasing an additional 197 shares in the last quarter. Finally, CX Institutional increased its stake in Bank of New York Mellon by 6.8% in the second quarter. CX Institutional now owns 9,177 shares of the bank’s stock valued at $836,000 after purchasing an additional 581 shares during the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on BK. Barclays boosted their price objective on shares of 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. Weiss Ratings reiterated a “buy (b+)” rating on shares of Bank of New York Mellon in a research note on Monday, December 29th. Evercore ISI boosted their price target on shares of Bank of New York Mellon from $91.00 to $110.00 and gave the company an “in-line” rating in a research report on Tuesday, September 30th. Royal Bank Of Canada upped their price objective 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 note on Wednesday, January 14th. Finally, Citigroup raised their price objective on Bank of New York Mellon from $120.00 to $136.00 and gave the stock a “neutral” rating in a report on Wednesday, January 14th. Nine analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $129.00.

Bank of New York Mellon Stock Down 2.1%

BK stock opened at $121.34 on Tuesday. The company has a market cap of $84.62 billion, a price-to-earnings ratio of 16.38, a price-to-earnings-growth ratio of 1.13 and a beta of 1.11. The company has a fifty day moving average price of $115.28 and a 200 day moving average price of $107.95. 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 12 month low of $70.46 and a 12 month high of $125.89.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings data on Friday, October 31st. The bank reported $1.91 EPS for the quarter. Bank of New York Mellon had a net margin of 13.62% and a return on equity of 14.37%. The company 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 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 5th. Investors of record on Friday, January 23rd will be given a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 1.7%. The ex-dividend date is Friday, January 23rd. Bank of New York Mellon’s payout ratio is 28.61%.

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.