The Bank of New York Mellon Corporation $BK is LFL Advisers LLC’s 2nd Largest Position

LFL Advisers LLC increased its stake in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 3.0% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 450,099 shares of the bank’s stock after acquiring an additional 13,160 shares during the period. Bank of New York Mellon makes up approximately 17.0% of LFL Advisers LLC’s holdings, making the stock its 2nd largest holding. LFL Advisers LLC’s holdings in Bank of New York Mellon were worth $49,043,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Valley Wealth Managers Inc. purchased a new position in Bank of New York Mellon in the 3rd quarter valued at about $33,000. Caldwell Trust Co purchased a new stake in Bank of New York Mellon during the 2nd quarter worth approximately $36,000. Westside Investment Management Inc. raised its position in shares of Bank of New York Mellon by 44.1% in the 3rd quarter. Westside Investment Management Inc. now owns 415 shares of the bank’s stock valued at $45,000 after purchasing an additional 127 shares in the last quarter. Dunhill Financial LLC boosted its stake in shares of Bank of New York Mellon by 130.8% during the 3rd quarter. Dunhill Financial LLC now owns 427 shares of the bank’s stock valued at $47,000 after buying an additional 242 shares during the last quarter. Finally, Twin Peaks Wealth Advisors LLC purchased a new position in shares of Bank of New York Mellon during the 2nd quarter valued at approximately $52,000. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Wells Fargo & Company increased their price objective on shares of Bank of New York Mellon from $119.00 to $122.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 14th. New Street Research set a $143.00 target price on shares of Bank of New York Mellon in a research report on Wednesday, January 14th. Keefe, Bruyette & Woods lifted their price target on Bank of New York Mellon from $132.00 to $143.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 14th. Citigroup initiated coverage on Bank of New York Mellon in a report on Monday, February 23rd. They set a “neutral” rating on the stock. Finally, Barclays lifted their target price on Bank of New York Mellon from $120.00 to $143.00 and gave the stock an “overweight” rating in a research report on Monday, January 5th. Eight research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Bank of New York Mellon currently has a consensus rating of “Moderate Buy” and an average price target of $131.92.

Bank of New York Mellon Trading Up 1.5%

Shares of NYSE BK opened at $117.20 on Thursday. The Bank of New York Mellon Corporation has a 12-month low of $70.46 and a 12-month high of $128.76. 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 stock’s 50 day simple moving average is $119.64 and its 200 day simple moving average is $113.04. The company has a market cap of $80.66 billion, a price-to-earnings ratio of 15.82, a price-to-earnings-growth ratio of 1.08 and a beta of 1.10.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings data on Friday, October 31st. The bank reported $1.91 earnings per share 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%. Equities 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 firm also recently announced a quarterly dividend, which was paid on Thursday, February 5th. Shareholders of record on Friday, January 23rd were paid a dividend of $0.53 per share. The ex-dividend date of this dividend was Friday, January 23rd. This represents a $2.12 annualized dividend and a yield of 1.8%. Bank of New York Mellon’s payout ratio is presently 28.61%.

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.