Ibex Wealth Advisors Acquires Shares of 50,060 The Bank of New York Mellon Corporation $BK

Ibex Wealth Advisors bought a new position in The Bank of New York Mellon Corporation (NYSE:BK) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor bought 50,060 shares of the bank’s stock, valued at approximately $4,561,000.

Several other institutional investors also recently modified their holdings of the business. Vise Technologies Inc. bought a new stake in Bank of New York Mellon during the second quarter worth about $1,867,000. Alpha Cubed Investments LLC purchased a new position in shares of Bank of New York Mellon during the second quarter valued at approximately $228,000. Allworth Financial LP boosted its position in shares of Bank of New York Mellon by 18.6% in the 2nd quarter. Allworth Financial LP now owns 31,388 shares of the bank’s stock worth $2,860,000 after purchasing an additional 4,916 shares in the last quarter. Addison Advisors LLC grew its stake in shares of Bank of New York Mellon by 14.0% in the 2nd quarter. Addison Advisors LLC now owns 1,289 shares of the bank’s stock worth $117,000 after buying an additional 158 shares during the last quarter. Finally, Zions Bancorporation National Association UT increased its position in Bank of New York Mellon by 148.6% during the 2nd quarter. Zions Bancorporation National Association UT now owns 1,651 shares of the bank’s stock valued at $150,000 after buying an additional 987 shares in the last quarter. 85.31% of the stock is currently owned by institutional investors.

Bank of New York Mellon Stock Performance

Shares of NYSE BK opened at $109.66 on Monday. The firm has a 50 day moving average of $107.06 and a 200 day moving average of $98.13. 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 firm has a market capitalization of $76.47 billion, a price-to-earnings ratio of 15.82, a price-to-earnings-growth ratio of 0.98 and a beta of 1.13. The Bank of New York Mellon Corporation has a 12-month low of $70.46 and a 12-month 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 business had revenue of $4.38 billion for the quarter. Bank of New York Mellon had a net margin of 12.86% and a return on equity of 14.03%. On average, 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 Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 7th. Investors of record on Monday, October 27th were given a dividend of $0.53 per share. The ex-dividend date was Monday, October 27th. This represents a $2.12 annualized dividend and a yield of 1.9%. Bank of New York Mellon’s payout ratio is 30.59%.

Wall Street Analyst Weigh In

Several research firms have commented on BK. Weiss Ratings downgraded Bank of New York Mellon from a “buy (a-)” rating to a “buy (b)” rating in a report on Friday. Truist Financial upped their price target on shares of Bank of New York Mellon from $118.00 to $119.00 and gave the stock a “hold” rating in a research note on Friday, October 17th. TD Cowen raised their price objective on shares of Bank of New York Mellon from $130.00 to $133.00 and gave the company a “buy” rating in a research note on Monday, October 20th. Evercore ISI lifted their target price on shares of 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 upped their target price on shares of Bank of New York Mellon from $100.00 to $109.00 and gave the stock an “equal weight” rating in a research note on Friday, October 17th. Ten research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, Bank of New York Mellon 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.