CW Advisors LLC Purchases 98,759 Shares of The Bank of New York Mellon Corporation $BK

CW Advisors LLC boosted its holdings in The Bank of New York Mellon Corporation (NYSE:BK) by 252.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 137,925 shares of the bank’s stock after buying an additional 98,759 shares during the period. CW Advisors LLC’s holdings in Bank of New York Mellon were worth $12,566,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Westside Investment Management Inc. boosted its position in shares of Bank of New York Mellon by 78.9% during the second quarter. Westside Investment Management Inc. now owns 288 shares of the bank’s stock worth $26,000 after purchasing an additional 127 shares in the last quarter. Orion Capital Management LLC acquired a new position in shares of Bank of New York Mellon during the first quarter worth about $32,000. Hoey Investments Inc. bought a new position in shares of Bank of New York Mellon during the 2nd quarter worth approximately $32,000. McClarren Financial Advisors Inc. bought a new position in Bank of New York Mellon in the first quarter valued at $34,000. Finally, GFG Capital LLC acquired a new stake in shares of Bank of New York Mellon in the second quarter valued at about $36,000. Institutional investors own 85.31% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on BK. Citigroup boosted their target price on shares of Bank of New York Mellon from $92.00 to $105.00 and gave the stock a “neutral” rating in a report on Friday, September 5th. Truist Financial lifted their price target on Bank of New York Mellon from $118.00 to $119.00 and gave the stock a “hold” rating in a report on Friday, October 17th. BMO Capital Markets began coverage on shares of Bank of New York Mellon in a report on Friday, October 3rd. They issued an “outperform” rating and a $125.00 price objective for the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Bank of New York Mellon in a research report on Monday. Finally, The Goldman Sachs Group increased their price target on shares of Bank of New York Mellon from $106.00 to $120.00 and gave the stock a “buy” rating in a research report on Monday, October 6th. Ten investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $111.29.

Bank of New York Mellon Trading Up 1.0%

Shares of NYSE BK opened at $113.18 on Thursday. The stock has a market cap of $78.93 billion, a P/E ratio of 16.33, a price-to-earnings-growth ratio of 1.01 and a beta of 1.12. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.70 and a current ratio of 0.70. The Bank of New York Mellon Corporation has a 52-week low of $70.46 and a 52-week high of $113.77. The firm has a 50 day moving average price of $108.44 and a two-hundred day moving average price of $101.35.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings results on Tuesday, March 26th. The bank reported $1.30 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 firm had revenue of $4.38 billion for the quarter. As a group, equities 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 declared a quarterly dividend, which was paid on Friday, November 7th. Shareholders of record on Monday, October 27th were given a dividend of $0.53 per share. The ex-dividend date of this dividend was Monday, October 27th. This represents a $2.12 dividend on an annualized basis and a yield of 1.9%. Bank of New York Mellon’s dividend payout ratio is 30.59%.

About Bank of New York Mellon

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.