The Bank of New York Mellon Corporation $BK Shares Bought by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC lifted its position in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 27.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 24,152 shares of the bank’s stock after acquiring an additional 5,225 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Bank of New York Mellon were worth $2,632,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Beirne Wealth Consulting Services LLC increased its position in Bank of New York Mellon by 62.5% during the 3rd quarter. Beirne Wealth Consulting Services LLC now owns 7,159 shares of the bank’s stock worth $780,000 after purchasing an additional 2,754 shares during the period. Crestwood Advisors Group LLC acquired a new stake in shares of Bank of New York Mellon in the 3rd quarter valued at approximately $258,000. NEOS Investment Management LLC boosted its stake in shares of Bank of New York Mellon by 13.9% in the third quarter. NEOS Investment Management LLC now owns 81,207 shares of the bank’s stock valued at $8,848,000 after buying an additional 9,908 shares in the last quarter. Arvest Bank Trust Division acquired a new position in Bank of New York Mellon during the third quarter worth $210,000. Finally, Wealthcare Advisory Partners LLC purchased a new position in Bank of New York Mellon in the third quarter worth $223,000. 85.31% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BK has been the topic of several research analyst reports. 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 stock from $119.00 to $134.00 in a research report on Wednesday, January 7th. TD Cowen boosted their price objective on shares of Bank of New York Mellon from $133.00 to $145.00 and gave the stock a “buy” rating in a report on Wednesday, January 7th. New Street Research set a $143.00 target price on shares of Bank of New York Mellon in a report on Wednesday, January 14th. Citigroup lifted their price target on shares of Bank of New York Mellon from $120.00 to $136.00 and gave the company a “neutral” rating in a research report on Wednesday, January 14th. Finally, Barclays upped their price target 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. Eight research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, Bank of New York Mellon currently has a consensus rating of “Moderate Buy” and a consensus price target of $131.92.

Bank of New York Mellon Stock Down 1.1%

Shares of NYSE BK opened at $118.16 on Friday. The firm has a market cap of $82.40 billion, a P/E ratio of 15.95, a price-to-earnings-growth ratio of 1.12 and a beta of 1.10. 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 1 year low of $70.46 and a 1 year high of $128.76. The firm’s 50 day moving average price is $119.30 and its 200 day moving average price is $111.45.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings results on Friday, October 31st. The bank reported $1.91 earnings per share for the quarter. Bank of New York Mellon had a return on equity of 14.37% and a net margin of 13.62%.The company had revenue of $5.07 billion for the quarter. As a group, sell-side 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 business also recently declared a quarterly dividend, which was paid on Thursday, February 5th. Investors of record on Friday, January 23rd were given a dividend of $0.53 per share. The ex-dividend date of this dividend was Friday, January 23rd. This represents a $2.12 annualized dividend and a yield of 1.8%. Bank of New York Mellon’s dividend 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.