Dakota Wealth Management Buys 19,825 Shares of The Bank of New York Mellon Corporation $BK

Dakota Wealth Management lifted its stake in The Bank of New York Mellon Corporation (NYSE:BK) by 11.2% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 196,436 shares of the bank’s stock after acquiring an additional 19,825 shares during the period. Dakota Wealth Management’s holdings in Bank of New York Mellon were worth $21,404,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Westside Investment Management Inc. raised its position in shares of Bank of New York Mellon by 78.9% in the second quarter. Westside Investment Management Inc. now owns 288 shares of the bank’s stock valued at $26,000 after purchasing an additional 127 shares during the period. Valley Wealth Managers Inc. acquired a new position in Bank of New York Mellon in the 3rd quarter valued at $33,000. Caldwell Trust Co acquired a new position in Bank of New York Mellon in the 2nd quarter valued at $36,000. Quaker Wealth Management LLC raised its holdings in Bank of New York Mellon by 198.9% in the 2nd quarter. Quaker Wealth Management LLC now owns 450 shares of the bank’s stock worth $41,000 after acquiring an additional 905 shares during the period. Finally, Twin Peaks Wealth Advisors LLC acquired a new position in Bank of New York Mellon during the 2nd quarter worth $52,000. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Stock Down 2.3%

BK opened at $115.42 on Tuesday. The company has a market capitalization of $80.49 billion, a P/E ratio of 15.58, a P/E/G ratio of 1.10 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. The firm’s fifty day moving average price is $119.30 and its two-hundred day moving average price is $111.81. The Bank of New York Mellon Corporation has a fifty-two week low of $70.46 and a fifty-two week high of $128.76.

Bank of New York Mellon (NYSE:BK) last released 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 during the quarter. On average, analysts anticipate that The Bank of New York Mellon Corporation will post 6.96 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 5th. Shareholders of record on Friday, January 23rd were issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend was Friday, January 23rd. Bank of New York Mellon’s payout ratio is presently 28.61%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on BK shares. Wells Fargo & Company raised their price target on Bank of New York Mellon from $119.00 to $122.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 14th. Keefe, Bruyette & Woods increased their target price on Bank of New York Mellon from $132.00 to $143.00 and gave the company an “outperform” rating in a research note on Wednesday, January 14th. TD Cowen lifted 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 report on Wednesday, January 7th. Truist Financial upgraded Bank of New York Mellon from a “hold” rating to a “buy” rating and upped their price target for the stock from $119.00 to $134.00 in a report on Wednesday, January 7th. Finally, Barclays raised 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 note on Monday, January 5th. Eight research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, Bank of New York Mellon presently has an average rating of “Moderate Buy” and a consensus target price 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.