The Bank of New York Mellon Corporation $BK Shares Purchased by Ibex Wealth Advisors

Ibex Wealth Advisors grew its stake in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 9.8% during the third quarter, Holdings Channel reports. The firm owned 54,952 shares of the bank’s stock after purchasing an additional 4,892 shares during the period. Ibex Wealth Advisors’ holdings in Bank of New York Mellon were worth $5,988,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Westside Investment Management Inc. raised its stake in Bank of New York Mellon by 78.9% during the 2nd quarter. Westside Investment Management Inc. now owns 288 shares of the bank’s stock worth $26,000 after acquiring an additional 127 shares in the last quarter. Valley Wealth Managers Inc. purchased a new position in shares of Bank of New York Mellon during the third quarter worth about $33,000. Caldwell Trust Co acquired a new stake in shares of Bank of New York Mellon during the second quarter worth about $36,000. Twin Peaks Wealth Advisors LLC acquired a new stake in shares of Bank of New York Mellon during the second quarter worth about $52,000. Finally, Cornerstone Planning Group LLC boosted its position in shares of Bank of New York Mellon by 73.2% in the 3rd quarter. Cornerstone Planning Group LLC now owns 511 shares of the bank’s stock valued at $55,000 after purchasing an additional 216 shares during the period. Institutional investors and hedge funds own 85.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on BK shares. New Street Research set a $143.00 price objective on Bank of New York Mellon in a research note on Wednesday, January 14th. Barclays upped their price target 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. Truist Financial upgraded shares of Bank of New York Mellon from a “hold” rating to a “buy” rating and increased their price target for the stock from $119.00 to $134.00 in a research note on Wednesday, January 7th. Keefe, Bruyette & Woods lifted their price objective on shares of Bank of New York Mellon from $132.00 to $143.00 and gave the company an “outperform” rating in a research note on Wednesday, January 14th. Finally, Citigroup began coverage on shares of Bank of New York Mellon in a research note on Monday, February 23rd. They set a “neutral” rating for the company. Eight investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $131.92.

Bank of New York Mellon Stock Performance

NYSE BK opened at $118.83 on Friday. The company has a current ratio of 0.71, a quick ratio of 0.70 and a debt-to-equity ratio of 0.81. The business’s 50 day moving average is $119.68 and its two-hundred day moving average is $112.13. The stock has a market capitalization of $81.62 billion, a price-to-earnings ratio of 16.04, a PEG ratio of 1.14 and a beta of 1.10. The Bank of New York Mellon Corporation has a 12-month low of $70.46 and a 12-month high of $128.76.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings data on Friday, October 31st. The bank reported $1.91 earnings per share for the quarter. Bank of New York Mellon had a return on equity of 14.37% and a net margin of 13.62%.The firm had revenue of $5.07 billion for the quarter. Research analysts expect 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 business also recently announced a quarterly dividend, which was paid on Thursday, February 5th. Shareholders of record on Friday, January 23rd were issued a $0.53 dividend. The ex-dividend date of this dividend was Friday, January 23rd. This represents a $2.12 dividend on an annualized basis and a yield of 1.8%. Bank of New York Mellon’s dividend payout ratio (DPR) is 28.61%.

Bank of New York Mellon Company 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.