Ibex Wealth Advisors Makes New $4.56 Million Investment in The Bank of New York Mellon Corporation $BK

Ibex Wealth Advisors purchased a new stake in shares of The Bank of New York Mellon Corporation (NYSE:BK) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 50,060 shares of the bank’s stock, valued at approximately $4,561,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Hemington Wealth Management lifted its stake in shares of Bank of New York Mellon by 6.3% during the 2nd quarter. Hemington Wealth Management now owns 1,730 shares of the bank’s stock valued at $157,000 after buying an additional 102 shares in the last quarter. Vestmark Advisory Solutions Inc. raised its holdings in Bank of New York Mellon by 4.0% during the second quarter. Vestmark Advisory Solutions Inc. now owns 2,771 shares of the bank’s stock valued at $252,000 after acquiring an additional 107 shares during the period. Confluence Wealth Services Inc. lifted its position in shares of Bank of New York Mellon by 1.0% in the second quarter. Confluence Wealth Services Inc. now owns 11,761 shares of the bank’s stock valued at $1,072,000 after acquiring an additional 111 shares in the last quarter. Leonard Rickey Investment Advisors P.L.L.C. lifted its position in shares of Bank of New York Mellon by 2.2% in the second quarter. Leonard Rickey Investment Advisors P.L.L.C. now owns 5,094 shares of the bank’s stock valued at $464,000 after acquiring an additional 112 shares in the last quarter. Finally, Sax Wealth Advisors LLC boosted its stake in shares of Bank of New York Mellon by 2.3% in the first quarter. Sax Wealth Advisors LLC now owns 5,278 shares of the bank’s stock worth $443,000 after acquiring an additional 117 shares during the period. 85.31% of the stock is owned by hedge funds and other institutional investors.

Bank of New York Mellon Trading Up 1.1%

BK opened at $109.66 on Monday. The stock has a 50-day moving average of $107.06 and a 200 day moving average of $98.13. The company has a current ratio of 0.70, a quick ratio of 0.72 and a debt-to-equity ratio of 0.83. The Bank of New York Mellon Corporation has a 12 month low of $70.46 and a 12 month high of $110.87. The firm has a market cap of $76.47 billion, a P/E ratio of 15.82, a P/E/G ratio of 0.98 and a beta of 1.13.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings data on Tuesday, March 26th. The bank reported $1.30 earnings per share (EPS) for the quarter. The business had revenue of $4.38 billion during the quarter. Bank of New York Mellon had a return on equity of 14.03% and a net margin of 12.86%. As a group, 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 7th. Shareholders of record on Monday, October 27th were paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Monday, October 27th. Bank of New York Mellon’s payout ratio is presently 30.59%.

Analysts Set New Price Targets

BK has been the topic of several recent analyst reports. Wells Fargo & Company lifted their target price on Bank of New York Mellon from $100.00 to $109.00 and gave the company an “equal weight” rating in a research note on Friday, October 17th. Keefe, Bruyette & Woods lifted their price objective on shares of Bank of New York Mellon from $120.00 to $124.00 and gave the company an “outperform” rating in a research report on Friday, October 17th. Barclays boosted their target price on shares of Bank of New York Mellon from $104.00 to $120.00 and gave the stock an “overweight” rating in a report on Friday, October 17th. Morgan Stanley upped their target price on shares of Bank of New York Mellon from $101.00 to $116.00 and gave the stock an “overweight” rating in a research report on Monday, September 29th. Finally, The Goldman Sachs Group lifted their price target on shares of Bank of New York Mellon from $106.00 to $120.00 and gave the company a “buy” rating in a report on Monday, October 6th. Ten equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $111.29.

Bank of New York Mellon Company Profile

The Bank of New York Mellon Corporation provides a range of financial products and services in the United States and internationally. The company operates through Securities Services, Market and Wealth Services, Investment and Wealth Management, and other segments. The Securities Services segment offers custody, trust and depositary, accounting, exchange-traded funds, middle-office solutions, transfer agency, services for private equity and real estate funds, foreign exchange, securities lending, liquidity/lending services, and data analytics.