Mirabella Financial Services LLP Buys New Stake in The Bank of New York Mellon Corporation $BK

Mirabella Financial Services LLP bought a new stake in shares of The Bank of New York Mellon Corporation (NYSE:BK) during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 26,435 shares of the bank’s stock, valued at approximately $2,875,000.

Several other hedge funds also recently bought and sold shares of the stock. Valley Wealth Managers Inc. acquired a new position in shares of Bank of New York Mellon in the third quarter worth $33,000. Caldwell Trust Co acquired a new stake in shares of Bank of New York Mellon during the second quarter valued at $36,000. Westside Investment Management Inc. boosted its stake in shares of Bank of New York Mellon by 44.1% during the third quarter. Westside Investment Management Inc. now owns 415 shares of the bank’s stock valued at $45,000 after acquiring an additional 127 shares during the last quarter. Dunhill Financial LLC increased its position 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 worth $47,000 after purchasing an additional 242 shares in the last quarter. Finally, Community Bank N.A. increased its position in Bank of New York Mellon by 250.4% during the 3rd quarter. Community Bank N.A. now owns 438 shares of the bank’s stock worth $48,000 after purchasing an additional 313 shares in the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Stock Down 1.3%

Shares of NYSE:BK opened at $114.61 on Thursday. The stock’s 50-day moving average price is $119.32 and its two-hundred day moving average price is $113.42. 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 firm has a market cap of $78.88 billion, a price-to-earnings ratio of 15.47, a PEG ratio of 1.08 and a beta of 1.10.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings results on Friday, October 31st. The bank reported $1.91 EPS for the quarter. Bank of New York Mellon had a return on equity of 14.37% and a net margin of 13.62%.The company had revenue of $5.07 billion during the quarter. On average, research 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 business also recently announced a quarterly dividend, which was paid on Thursday, February 5th. Investors of record on Friday, January 23rd were issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date was Friday, January 23rd. Bank of New York Mellon’s payout ratio is presently 28.61%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. New Street Research set a $143.00 target price on shares of Bank of New York Mellon in a report on Wednesday, January 14th. TD Cowen lifted their price target on shares of Bank of New York Mellon from $133.00 to $145.00 and gave the stock a “buy” rating in a report on Wednesday, January 7th. 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 report on Wednesday, January 14th. Truist Financial raised shares of Bank of New York Mellon from a “hold” rating to a “buy” rating and upped their price objective for the company from $119.00 to $134.00 in a research note on Wednesday, January 7th. Finally, Weiss Ratings upgraded shares of Bank of New York Mellon from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Wednesday, March 11th. One investment 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, Bank of New York Mellon currently has a consensus 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.