Austin Private Wealth LLC Has $359,000 Holdings in The Bank of New York Mellon Corporation $BK

Austin Private Wealth LLC boosted its stake in The Bank of New York Mellon Corporation (NYSE:BK) by 5.3% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,940 shares of the bank’s stock after purchasing an additional 200 shares during the quarter. Austin Private Wealth LLC’s holdings in Bank of New York Mellon were worth $359,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Revolve Wealth Partners LLC bought a new position in Bank of New York Mellon in the fourth quarter valued at about $220,000. Golden State Wealth Management LLC grew its position in Bank of New York Mellon by 226.4% in the first quarter. Golden State Wealth Management LLC now owns 408 shares of the bank’s stock valued at $34,000 after acquiring an additional 283 shares during the last quarter. Koshinski Asset Management Inc. bought a new position in Bank of New York Mellon in the first quarter valued at about $209,000. Barnes Dennig Private Wealth Management LLC bought a new position in Bank of New York Mellon in the first quarter valued at about $5,118,000. Finally, Smallwood Wealth Investment Management LLC bought a new position in Bank of New York Mellon in the first quarter valued at about $62,000. Institutional investors and hedge funds own 85.31% of the company’s stock.

Bank of New York Mellon Stock Performance

NYSE:BK opened at $108.59 on Wednesday. The stock has a market cap of $76.58 billion, a P/E ratio of 15.67, a price-to-earnings-growth ratio of 0.98 and a beta of 1.13. 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’s 50-day moving average is $106.34 and its 200-day moving average is $96.21. The Bank of New York Mellon Corporation has a 1-year low of $70.46 and a 1-year high of $110.87.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings results on Tuesday, March 26th. The bank reported $1.30 earnings per share for the quarter. The company had revenue of $4.38 billion for the quarter. Bank of New York Mellon had a return on equity of 14.03% and a net margin of 12.86%. Equities 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 business also recently disclosed a quarterly dividend, which will be paid on Friday, November 7th. Investors of record on Monday, October 27th will be paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend is Monday, October 27th. Bank of New York Mellon’s payout ratio is currently 30.59%.

Wall Street Analysts Forecast Growth

BK has been the topic of a number of recent analyst reports. Morgan Stanley lifted their target price on Bank of New York Mellon from $101.00 to $116.00 and gave the company an “overweight” rating in a research report on Monday, September 29th. Barclays lifted their target price on Bank of New York Mellon from $104.00 to $120.00 and gave the company an “overweight” rating in a research report on Friday, October 17th. Citigroup lifted their target price on Bank of New York Mellon from $92.00 to $105.00 and gave the company a “neutral” rating in a research report on Friday, September 5th. Evercore ISI boosted their price target on 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. Finally, Wells Fargo & Company boosted their price target on Bank of New York Mellon from $100.00 to $109.00 and gave the stock an “equal weight” rating in a report on Friday, October 17th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $111.29.

Bank of New York Mellon 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.