L & S Advisors Inc Purchases 21,167 Shares of The Bank of New York Mellon Corporation $BK

L & S Advisors Inc boosted its holdings in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 24.9% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 106,103 shares of the bank’s stock after purchasing an additional 21,167 shares during the period. Bank of New York Mellon accounts for approximately 1.1% of L & S Advisors Inc’s portfolio, making the stock its 25th biggest position. L & S Advisors Inc’s holdings in Bank of New York Mellon were worth $11,561,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Valeo Financial Advisors LLC increased its position in shares of Bank of New York Mellon by 1.3% during the third quarter. Valeo Financial Advisors LLC now owns 7,539 shares of the bank’s stock worth $821,000 after acquiring an additional 94 shares in the last quarter. Ferguson Wellman Capital Management Inc. grew its stake in shares of Bank of New York Mellon by 0.4% during the 3rd quarter. Ferguson Wellman Capital Management Inc. now owns 24,752 shares of the bank’s stock worth $2,697,000 after acquiring an additional 96 shares in the last quarter. Leonard Rickey Investment Advisors P.L.L.C. boosted its stake in shares of Bank of New York Mellon by 1.9% during the 3rd quarter. Leonard Rickey Investment Advisors P.L.L.C. now owns 5,192 shares of the bank’s stock worth $566,000 after buying an additional 98 shares during the last quarter. Tiemann Investment Advisors LLC increased its position in shares of Bank of New York Mellon by 2.9% during the 2nd quarter. Tiemann Investment Advisors LLC now owns 3,492 shares of the bank’s stock worth $318,000 after purchasing an additional 100 shares during the last quarter. Finally, Cary Street Partners Investment Advisory LLC grew its stake in shares of Bank of New York Mellon by 13.7% in the second quarter. Cary Street Partners Investment Advisory LLC now owns 828 shares of the bank’s stock valued at $75,000 after buying an additional 100 shares in the last quarter. 85.31% of the stock is currently owned by institutional investors.

Bank of New York Mellon Trading Up 0.7%

Shares of BK stock opened at $119.63 on Thursday. The company has a market cap of $83.42 billion, a P/E ratio of 16.14, a PEG ratio of 1.11 and a beta of 1.10. 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 stock has a 50 day simple moving average of $119.31 and a two-hundred day simple moving average of $111.41. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.70 and a current ratio of 0.71.

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. The company had revenue of $5.07 billion for the quarter. Bank of New York Mellon had a return on equity of 14.37% and a net margin of 13.62%. Research analysts forecast that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 5th. Investors of record on Friday, January 23rd were given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date was Friday, January 23rd. Bank of New York Mellon’s dividend payout ratio (DPR) is 28.61%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on BK. Citigroup raised their price objective on Bank of New York Mellon from $120.00 to $136.00 and gave the company a “neutral” 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 lifted their price objective for the stock from $119.00 to $134.00 in a research report on Wednesday, January 7th. TD Cowen increased their price objective on shares of Bank of New York Mellon from $133.00 to $145.00 and gave the company a “buy” rating in a research report on Wednesday, January 7th. Keefe, Bruyette & Woods lifted their target price on shares of Bank of New York Mellon from $132.00 to $143.00 and gave the stock an “outperform” rating in a report on Wednesday, January 14th. Finally, Wells Fargo & Company raised their price objective 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. 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 company has a consensus rating of “Moderate Buy” and a consensus target price 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.