L & S Advisors Inc Purchases 33,696 Shares of The Bank of New York Mellon Corporation $BK

L & S Advisors Inc lifted its position in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 65.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 84,936 shares of the bank’s stock after acquiring an additional 33,696 shares during the period. L & S Advisors Inc’s holdings in Bank of New York Mellon were worth $7,739,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in BK. Canada Post Corp Registered Pension Plan acquired a new stake in Bank of New York Mellon in the first quarter valued at approximately $1,035,000. Formidable Asset Management LLC bought a new position in Bank of New York Mellon in the first quarter valued at about $247,000. Goldman Sachs Group Inc. boosted its stake in shares of Bank of New York Mellon by 26.3% during the first quarter. Goldman Sachs Group Inc. now owns 5,053,744 shares of the bank’s stock valued at $423,858,000 after purchasing an additional 1,052,145 shares in the last quarter. Nuveen LLC bought a new stake in shares of Bank of New York Mellon during the first quarter worth about $773,627,000. Finally, Marble Harbor Investment Counsel LLC acquired a new position in shares of Bank of New York Mellon in the first quarter valued at approximately $218,000. Institutional investors and hedge funds own 85.31% of the company’s stock.

Bank of New York Mellon Trading Down 1.5%

Shares of Bank of New York Mellon stock opened at $110.99 on Friday. The firm has a market cap of $77.40 billion, a PE ratio of 16.02, a P/E/G ratio of 0.98 and a beta of 1.13. The Bank of New York Mellon Corporation has a 1 year low of $70.46 and a 1 year high of $113.74. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.70 and a quick ratio of 0.72. The stock has a fifty day moving average price of $107.57 and a 200-day moving average price of $98.77.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings results on Tuesday, March 26th. The bank reported $1.30 earnings per share for the quarter. The company had revenue of $4.38 billion during the quarter. Bank of New York Mellon had a net margin of 12.86% and a return on equity of 14.03%. Equities research analysts anticipate 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 declared a quarterly dividend, which was paid on Friday, November 7th. Investors of record on Monday, October 27th were issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend was Monday, October 27th. Bank of New York Mellon’s payout ratio is 30.59%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. TD Cowen boosted their target price on shares of Bank of New York Mellon from $130.00 to $133.00 and gave the stock a “buy” rating in a report on Monday, October 20th. Truist Financial raised their target price on Bank of New York Mellon from $118.00 to $119.00 and gave the stock a “hold” rating in a research report on Friday, October 17th. Barclays upped their price target on Bank of New York Mellon from $104.00 to $120.00 and gave the company an “overweight” rating in a research report on Friday, October 17th. Keefe, Bruyette & Woods raised their price objective on Bank of New York Mellon from $120.00 to $124.00 and gave the stock an “outperform” rating in a research report on Friday, October 17th. Finally, Citigroup lifted their price objective on Bank of New York Mellon from $92.00 to $105.00 and gave the stock a “neutral” rating in a research report on Friday, September 5th. Ten investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, Bank of New York Mellon presently has a consensus 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.