B. Riley Wealth Advisors Inc. Makes New Investment in The Bank of New York Mellon Corporation $BK

B. Riley Wealth Advisors Inc. bought a new stake in shares of The Bank of New York Mellon Corporation (NYSE:BK) during the 2nd quarter, HoldingsChannel.com reports. The firm bought 11,982 shares of the bank’s stock, valued at approximately $1,092,000.

Several other large investors have also recently bought and sold shares of BK. Westside Investment Management Inc. grew its stake in Bank of New York Mellon by 78.9% during the 2nd quarter. Westside Investment Management Inc. now owns 288 shares of the bank’s stock valued at $26,000 after acquiring an additional 127 shares in the last quarter. Orion Capital Management LLC purchased a new stake in Bank of New York Mellon in the 1st quarter worth approximately $32,000. Hoey Investments Inc. acquired a new stake in shares of Bank of New York Mellon during the 2nd quarter valued at $32,000. GFG Capital LLC purchased a new position in shares of Bank of New York Mellon during the 2nd quarter valued at $36,000. Finally, Wealth Preservation Advisors LLC purchased a new stake in shares of Bank of New York Mellon during the first quarter worth $39,000. 85.31% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have commented on the company. The Goldman Sachs Group boosted their target price on Bank of New York Mellon from $106.00 to $120.00 and gave the company a “buy” rating in a research note on Monday, October 6th. Weiss Ratings restated a “buy (b)” rating on shares of Bank of New York Mellon in a report on Monday, December 8th. TD Cowen lifted their target price on shares of Bank of New York Mellon from $130.00 to $133.00 and gave the company a “buy” rating in a research note on Monday, October 20th. Wells Fargo & Company increased their price target on shares of Bank of New York Mellon from $100.00 to $109.00 and gave the stock an “equal weight” rating in a research note on Friday, October 17th. Finally, Truist Financial upped their price objective on shares of 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. Ten analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, Bank of New York Mellon has a consensus rating of “Moderate Buy” and a consensus target price of $111.29.

Bank of New York Mellon Trading Down 0.0%

Shares of BK opened at $116.99 on Tuesday. The stock’s fifty day simple moving average is $109.75 and its 200-day simple moving average is $102.94. The firm has a market capitalization of $81.59 billion, a PE ratio of 16.88, a price-to-earnings-growth ratio of 1.06 and a beta of 1.12. The Bank of New York Mellon Corporation has a 12-month low of $70.46 and a 12-month high of $119.40. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.83.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings data on Tuesday, March 26th. The bank reported $1.30 earnings per share for the quarter. The firm 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 predict that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 7th. Shareholders 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 1.8%. The ex-dividend date of this dividend was Monday, October 27th. Bank of New York Mellon’s payout ratio is currently 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.