Tradewinds LLC. Invests $826,000 in The Bank of New York Mellon Corporation $BK

Tradewinds LLC. purchased a new stake in shares of The Bank of New York Mellon Corporation (NYSE:BK) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 7,577 shares of the bank’s stock, valued at approximately $826,000.

Other hedge funds have also bought and sold shares of the company. Westside Investment Management Inc. raised its stake in shares of 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 purchasing an additional 127 shares during the period. Hoey Investments Inc. purchased a new stake in Bank of New York Mellon during the second quarter worth about $32,000. GFG Capital LLC bought a new stake in Bank of New York Mellon in the second quarter worth about $36,000. Caldwell Trust Co purchased a new position in Bank of New York Mellon in the second quarter valued at about $36,000. Finally, Princeton Global Asset Management LLC grew its position in shares of Bank of New York Mellon by 89.0% during the 2nd quarter. Princeton Global Asset Management LLC now owns 446 shares of the bank’s stock valued at $41,000 after acquiring an additional 210 shares during the period. 85.31% of the stock is currently owned by institutional investors.

Bank of New York Mellon Trading Down 2.1%

Shares of BK opened at $121.34 on Monday. The business’s 50-day moving average price is $115.07 and its 200-day moving average price is $107.74. 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 twelve month low of $70.46 and a twelve month high of $125.89. The stock has a market cap of $84.62 billion, a PE ratio of 16.38, a P/E/G ratio of 1.13 and a beta of 1.11.

Bank of New York Mellon (NYSE:BK) last posted its earnings results on Friday, October 31st. The bank reported $1.91 earnings per share for the quarter. Bank of New York Mellon had a net margin of 13.62% and a return on equity of 14.37%. The business had revenue of $5.07 billion for the quarter. 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 firm also recently announced a quarterly dividend, which will be paid on Thursday, February 5th. Shareholders of record on Friday, January 23rd will be paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Friday, January 23rd. Bank of New York Mellon’s dividend payout ratio is currently 28.61%.

Analysts Set New Price Targets

Several equities analysts recently commented on BK shares. Weiss Ratings reiterated a “buy (b+)” rating on shares of Bank of New York Mellon in a research note on Monday, December 29th. Barclays increased their price target on Bank of New York Mellon from $120.00 to $143.00 and gave the stock an “overweight” rating in a research note on Monday, January 5th. The Goldman Sachs Group boosted their price objective on Bank of New York Mellon from $106.00 to $120.00 and gave the company a “buy” rating in a research note on Monday, October 6th. Wells Fargo & Company increased their target price on shares of Bank of New York Mellon from $119.00 to $122.00 and gave the stock an “equal weight” rating in a research 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 lifted their target price for the stock from $119.00 to $134.00 in a research note on Wednesday, January 7th. Nine research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $129.00.

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.