The Bank of New York Mellon Corporation $BK Shares Purchased by L & S Advisors Inc

L & S Advisors Inc grew its stake in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 65.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 84,936 shares of the bank’s stock after purchasing an additional 33,696 shares during the quarter. L & S Advisors Inc’s holdings in Bank of New York Mellon were worth $7,739,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the company. Westside Investment Management Inc. lifted its position in shares of Bank of New York Mellon by 78.9% during the second quarter. Westside Investment Management Inc. now owns 288 shares of the bank’s stock worth $26,000 after purchasing an additional 127 shares during the last quarter. Hoey Investments Inc. acquired a new position in shares of Bank of New York Mellon during the second quarter valued at approximately $32,000. Orion Capital Management LLC acquired a new position in Bank of New York Mellon in the 1st quarter worth approximately $32,000. GFG Capital LLC bought a new stake in shares of Bank of New York Mellon in the 2nd quarter valued at approximately $36,000. Finally, McClarren Financial Advisors Inc. acquired a new position in Bank of New York Mellon in the first quarter worth approximately $34,000. 85.31% of the stock is owned by institutional investors and hedge funds.

Bank of New York Mellon Price Performance

Shares of BK opened at $110.99 on Friday. The Bank of New York Mellon Corporation has a fifty-two week low of $70.46 and a fifty-two week high of $113.74. The firm has a market capitalization of $77.40 billion, a PE ratio of 16.02, a PEG ratio of 0.98 and a beta of 1.13. The company’s 50-day moving average is $107.57 and its 200-day moving average is $98.77. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.70 and a quick ratio of 0.72.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings data on Tuesday, March 26th. The bank reported $1.30 earnings per share (EPS) for the quarter. The firm had revenue of $4.38 billion during the quarter. Bank of New York Mellon had a net margin of 12.86% and a return on equity of 14.03%. Equities analysts forecast that The Bank of New York Mellon Corporation will post 6.96 EPS for the current year.

Bank of New York Mellon Announces Dividend

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

Analyst Ratings Changes

Several equities analysts have commented on the stock. Keefe, Bruyette & Woods increased their target price on shares of Bank of New York Mellon from $120.00 to $124.00 and gave the stock an “outperform” rating in a research report on Friday, October 17th. The Goldman Sachs Group raised their target price on shares of Bank of New York Mellon from $106.00 to $120.00 and gave the company a “buy” rating in a research note on Monday, October 6th. TD Cowen raised their price objective on shares of Bank of New York Mellon from $130.00 to $133.00 and gave the stock a “buy” rating in a report on Monday, October 20th. BMO Capital Markets initiated coverage on shares of Bank of New York Mellon in a report on Friday, October 3rd. They set an “outperform” rating and a $125.00 target price for the company. Finally, Truist Financial increased their target price on shares of Bank of New York Mellon from $118.00 to $119.00 and gave the stock a “hold” rating in a report on Friday, October 17th. Ten analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $111.29.

Bank of New York Mellon Company 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.