Meridian Wealth Management LLC Has $1.38 Million Stock Holdings in The Bank of New York Mellon Corporation $BK

Meridian Wealth Management LLC raised its position in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 168.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,621 shares of the bank’s stock after purchasing an additional 7,926 shares during the period. Meridian Wealth Management LLC’s holdings in Bank of New York Mellon were worth $1,375,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BK. Transcend Capital Advisors LLC raised its holdings in shares of Bank of New York Mellon by 24.0% during the 3rd quarter. Transcend Capital Advisors LLC now owns 7,421 shares of the bank’s stock worth $809,000 after buying an additional 1,437 shares in the last quarter. Thrivent Financial for Lutherans grew its position in Bank of New York Mellon by 7.5% in the third quarter. Thrivent Financial for Lutherans now owns 1,121,921 shares of the bank’s stock valued at $122,244,000 after acquiring an additional 78,237 shares during the last quarter. Independent Advisor Alliance lifted its holdings in shares of Bank of New York Mellon by 4.8% in the third quarter. Independent Advisor Alliance now owns 13,539 shares of the bank’s stock worth $1,475,000 after acquiring an additional 615 shares during the last quarter. Everhart Financial Group Inc. bought a new stake in shares of Bank of New York Mellon during the 3rd quarter valued at approximately $308,000. Finally, Howard Capital Management Inc. increased its position in Bank of New York Mellon by 3.3% during the 3rd quarter. Howard Capital Management Inc. now owns 4,691 shares of the bank’s stock worth $511,000 after purchasing an additional 150 shares in the last quarter. 85.31% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on BK. Keefe, Bruyette & Woods raised their target price 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. Weiss Ratings upgraded Bank of New York Mellon from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Tuesday, January 27th. The Goldman Sachs Group boosted their price target on Bank of New York Mellon from $106.00 to $120.00 and gave the stock a “buy” rating in a report on Monday, October 6th. New Street Research set a $143.00 price objective on Bank of New York Mellon in a research note on Wednesday, January 14th. Finally, TD Cowen lifted their target price on shares of Bank of New York Mellon from $133.00 to $145.00 and gave the stock a “buy” rating in a research report on Wednesday, January 7th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, Bank of New York Mellon has an average rating of “Moderate Buy” and an average target price of $131.92.

Bank of New York Mellon Stock Performance

NYSE:BK opened at $121.62 on Tuesday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.70 and a current ratio of 0.71. The Bank of New York Mellon Corporation has a fifty-two week low of $70.46 and a fifty-two week high of $125.89. The company has a 50 day simple moving average of $117.47 and a two-hundred day simple moving average of $109.75. The company has a market capitalization of $84.81 billion, a PE ratio of 16.41, a P/E/G ratio of 1.12 and a beta of 1.10.

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. Research analysts anticipate 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 firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 5th. Stockholders of record on Friday, January 23rd will be given a $0.53 dividend. The ex-dividend date of this dividend is Friday, January 23rd. This represents a $2.12 annualized dividend and a dividend yield of 1.7%. Bank of New York Mellon’s dividend payout ratio (DPR) is 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.