The Bank of New York Mellon Corporation $BK Shares Purchased by J.W. Cole Advisors Inc.

J.W. Cole Advisors Inc. grew its holdings in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 10.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 17,374 shares of the bank’s stock after purchasing an additional 1,639 shares during the period. J.W. Cole Advisors Inc.’s holdings in Bank of New York Mellon were worth $1,583,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Westside Investment Management Inc. lifted its holdings in Bank of New York Mellon by 78.9% in the second quarter. Westside Investment Management Inc. now owns 288 shares of the bank’s stock worth $26,000 after acquiring an additional 127 shares during the last quarter. Orion Capital Management LLC acquired a new position in Bank of New York Mellon during the 1st quarter valued at approximately $32,000. Hoey Investments Inc. bought a new position in Bank of New York Mellon during the 2nd quarter worth $32,000. McClarren Financial Advisors Inc. acquired a new stake in Bank of New York Mellon in the first quarter worth $34,000. Finally, GFG Capital LLC bought a new stake in Bank of New York Mellon in the second quarter valued at $36,000. 85.31% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently commented on BK. Truist Financial upped their price target on shares of 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. Evercore ISI raised their price target on shares of Bank of New York Mellon from $91.00 to $110.00 and gave the company an “in-line” rating in a research note on Tuesday, September 30th. BMO Capital Markets began coverage on Bank of New York Mellon in a research report on Friday, October 3rd. They set an “outperform” rating and a $125.00 price objective for the company. Weiss Ratings restated a “buy (b)” rating on shares of Bank of New York Mellon in a research report on Tuesday. Finally, Citigroup boosted their price target 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 analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $111.29.

Bank of New York Mellon Price Performance

Shares of NYSE:BK opened at $111.94 on Friday. The stock’s 50 day moving average price is $108.23 and its 200 day moving average price is $100.77. 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 market cap of $78.06 billion, a price-to-earnings ratio of 16.15, a PEG ratio of 0.98 and a beta of 1.13. The Bank of New York Mellon Corporation has a 12 month low of $70.46 and a 12 month high of $113.74.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings results on Tuesday, March 26th. The bank reported $1.30 earnings per share (EPS) for the quarter. Bank of New York Mellon had a return on equity of 14.03% and a net margin of 12.86%.The company had revenue of $4.38 billion for the quarter. Equities research analysts anticipate that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 7th. Investors of record on Monday, October 27th were issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date was Monday, October 27th. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 30.59%.

Bank of New York Mellon 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.