CWA Asset Management Group LLC Acquires 62,334 Shares of The Bank of New York Mellon Corporation $BK

CWA Asset Management Group LLC grew its holdings in The Bank of New York Mellon Corporation (NYSE:BK) by 1,453.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 66,622 shares of the bank’s stock after purchasing an additional 62,334 shares during the period. CWA Asset Management Group LLC’s holdings in Bank of New York Mellon were worth $7,734,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in BK. Valley Wealth Managers Inc. purchased a new stake in shares of Bank of New York Mellon during the third quarter valued at $33,000. Caldwell Trust Co purchased a new position in Bank of New York Mellon in the 2nd quarter worth about $36,000. Westside Investment Management Inc. lifted its holdings in Bank of New York Mellon by 44.1% during the 3rd quarter. Westside Investment Management Inc. now owns 415 shares of the bank’s stock valued at $45,000 after buying an additional 127 shares in the last quarter. Dunhill Financial LLC lifted its holdings in Bank of New York Mellon by 130.8% during the 3rd quarter. Dunhill Financial LLC now owns 427 shares of the bank’s stock valued at $47,000 after buying an additional 242 shares in the last quarter. Finally, Community Bank N.A. boosted its position in Bank of New York Mellon by 250.4% in the 3rd quarter. Community Bank N.A. now owns 438 shares of the bank’s stock valued at $48,000 after buying an additional 313 shares during the period. 85.31% of the stock is currently owned by institutional investors.

Bank of New York Mellon Stock Performance

BK stock opened at $114.87 on Friday. The Bank of New York Mellon Corporation has a one year low of $70.46 and a one year high of $128.76. The firm has a market cap of $79.06 billion, a price-to-earnings ratio of 15.50, a PEG ratio of 1.07 and a beta of 1.10. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.71 and a current ratio of 0.71. The firm has a 50-day simple moving average of $119.13 and a two-hundred day simple moving average of $113.50.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings data on Friday, October 31st. The bank reported $1.91 earnings per share (EPS) for the quarter. The firm had revenue of $5.07 billion for the quarter. Bank of New York Mellon had a net margin of 13.62% and a return on equity of 14.37%. On average, equities analysts forecast that The Bank of New York Mellon Corporation will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 5th. Shareholders of record on Friday, January 23rd were issued a $0.53 dividend. This represents a $2.12 annualized dividend 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 currently 28.61%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on BK shares. Citigroup started coverage on shares of Bank of New York Mellon in a research note on Monday, February 23rd. They issued a “neutral” rating on the stock. New Street Research set a $143.00 price target on shares of Bank of New York Mellon in a research note on Wednesday, January 14th. Keefe, Bruyette & Woods boosted their price target on Bank of New York Mellon from $132.00 to $143.00 and gave the company an “outperform” rating in a report on Wednesday, January 14th. TD Cowen increased their price objective on Bank of New York Mellon from $133.00 to $145.00 and gave the stock a “buy” rating in a research note on Wednesday, January 7th. Finally, Truist Financial raised Bank of New York Mellon from a “hold” rating to a “buy” rating and lifted their target price for the company from $119.00 to $134.00 in a research report on Wednesday, January 7th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $131.92.

Bank of New York Mellon 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.