MainStreet Investment Advisors LLC Takes Position in The Bank of New York Mellon Corporation $BK

MainStreet Investment Advisors LLC acquired a new stake in shares of The Bank of New York Mellon Corporation (NYSE:BK) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 20,474 shares of the bank’s stock, valued at approximately $2,231,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Kovitz Investment Group Partners LLC lifted its position in Bank of New York Mellon by 9.1% during the third quarter. Kovitz Investment Group Partners LLC now owns 317,617 shares of the bank’s stock worth $34,607,000 after buying an additional 26,485 shares during the period. Alteri Wealth LLC boosted its position in shares of Bank of New York Mellon by 4.1% in the third quarter. Alteri Wealth LLC now owns 4,854 shares of the bank’s stock worth $529,000 after acquiring an additional 190 shares during the last quarter. Koshinski Asset Management Inc. grew its holdings in Bank of New York Mellon by 105.6% in the third quarter. Koshinski Asset Management Inc. now owns 4,718 shares of the bank’s stock valued at $514,000 after purchasing an additional 2,423 shares during the period. Vestmark Advisory Solutions Inc. increased its position in Bank of New York Mellon by 286.4% during the third quarter. Vestmark Advisory Solutions Inc. now owns 10,707 shares of the bank’s stock worth $1,167,000 after purchasing an additional 7,936 shares during the last quarter. Finally, Bleakley Financial Group LLC increased its position in Bank of New York Mellon by 51.5% during the third quarter. Bleakley Financial Group LLC now owns 22,871 shares of the bank’s stock worth $2,492,000 after purchasing an additional 7,775 shares during the last quarter. 85.31% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on BK. Morgan Stanley boosted their price objective on shares of Bank of New York Mellon from $124.00 to $132.00 and gave the company an “overweight” rating in a research note on Wednesday, January 14th. Wells Fargo & Company boosted their price target on Bank of New York Mellon from $119.00 to $122.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 14th. Weiss Ratings downgraded Bank of New York Mellon from a “buy (a-)” rating to a “buy (b+)” rating in a report on Friday, February 13th. Royal Bank Of Canada boosted 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 report on Wednesday, January 14th. Finally, Truist Financial upgraded shares of Bank of New York Mellon from a “hold” rating to a “buy” rating and raised their price target for the company from $119.00 to $134.00 in a report on Wednesday, January 7th. Eight investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $131.92.

Bank of New York Mellon Stock Up 0.0%

NYSE BK opened at $118.16 on Monday. The company has a quick ratio of 0.70, a current ratio of 0.71 and a debt-to-equity ratio of 0.81. The Bank of New York Mellon Corporation has a fifty-two week low of $70.46 and a fifty-two week high of $128.76. The business has a 50 day moving average price of $119.33 and a two-hundred day moving average price of $111.71. The stock has a market cap of $82.40 billion, a PE ratio of 15.95, a P/E/G ratio of 1.10 and a beta of 1.10.

Bank of New York Mellon (NYSE:BK) last posted its earnings results on Friday, October 31st. The bank reported $1.91 EPS for the quarter. The business 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%. As a group, sell-side analysts predict 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 disclosed a quarterly dividend, which was paid on Thursday, February 5th. Shareholders of record on Friday, January 23rd were given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend was Friday, January 23rd. Bank of New York Mellon’s dividend 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.