Stableford Capital II LLC Acquires New Holdings in The Bank of New York Mellon Corporation $BK

Stableford Capital II LLC bought a new position in shares of The Bank of New York Mellon Corporation (NYSE:BK) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 10,907 shares of the bank’s stock, valued at approximately $1,266,000.

Other large investors have also bought and sold shares of the company. Valley Wealth Managers Inc. acquired a new stake in Bank of New York Mellon during the third quarter worth approximately $33,000. Caldwell Trust Co bought a new position in Bank of New York Mellon in the second quarter worth approximately $36,000. Westside Investment Management Inc. boosted its holdings in Bank of New York Mellon by 44.1% in the third quarter. Westside Investment Management Inc. now owns 415 shares of the bank’s stock worth $45,000 after acquiring an additional 127 shares in the last quarter. Dunhill Financial LLC grew its stake in Bank of New York Mellon by 130.8% in the third quarter. Dunhill Financial LLC now owns 427 shares of the bank’s stock valued at $47,000 after acquiring an additional 242 shares during the period. Finally, Community Bank N.A. lifted 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 acquiring an additional 313 shares in the last quarter. 85.31% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

BK has been the subject of a number of research reports. Barclays increased their target price on shares of Bank of New York Mellon from $120.00 to $143.00 and gave the company an “overweight” rating in a research report on Monday, January 5th. Citigroup started coverage on shares of Bank of New York Mellon in a report on Monday, February 23rd. They issued a “neutral” rating for the company. Wells Fargo & Company boosted their target price on shares of Bank of New York Mellon from $119.00 to $122.00 and gave the company an “equal weight” rating in a report on Wednesday, January 14th. Royal Bank Of Canada raised their target price on Bank of New York Mellon from $124.00 to $130.00 and gave the stock a “sector perform” rating in a research note on Wednesday, January 14th. Finally, Weiss Ratings upgraded Bank of New York Mellon from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Wednesday, March 11th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $131.92.

Bank of New York Mellon Price Performance

Shares of Bank of New York Mellon stock opened at $116.58 on Friday. The firm has a market capitalization of $80.23 billion, a PE ratio of 15.73, a price-to-earnings-growth ratio of 1.10 and a beta of 1.10. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.81. The Bank of New York Mellon Corporation has a 12 month low of $70.46 and a 12 month high of $128.76. The business’s 50-day moving average price is $118.66 and its 200-day moving average price is $113.85.

Bank of New York Mellon (NYSE:BK) last released its earnings results on Tuesday, January 13th. The bank reported $2.08 EPS for the quarter, beating the consensus estimate of $1.97 by $0.11. The company had revenue of $5.18 billion for the quarter, compared to analyst estimates of $5.11 billion. Bank of New York Mellon had a net margin of 13.62% and a return on equity of 14.37%. The firm’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.72 EPS. Sell-side 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 business also recently disclosed a quarterly dividend, which was paid on Thursday, February 5th. Shareholders of record on Friday, January 23rd were given a $0.53 dividend. The ex-dividend date was Friday, January 23rd. This represents a $2.12 annualized dividend and a yield of 1.8%. Bank of New York Mellon’s payout ratio is presently 28.61%.

About Bank of New York Mellon

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.