First National Advisers LLC Takes $3.30 Million Position in The Bank of New York Mellon Corporation $BK

First National Advisers LLC purchased a new position in The Bank of New York Mellon Corporation (NYSE:BK) during the third quarter, Holdings Channel.com reports. The firm purchased 30,327 shares of the bank’s stock, valued at approximately $3,304,000.

A number of other hedge funds also recently bought and sold shares of BK. Ferguson Wellman Capital Management Inc. boosted its holdings in shares of Bank of New York Mellon by 0.4% in the third quarter. Ferguson Wellman Capital Management Inc. now owns 24,752 shares of the bank’s stock worth $2,697,000 after buying an additional 96 shares during the period. Leonard Rickey Investment Advisors P.L.L.C. boosted its stake in Bank of New York Mellon by 1.9% in the 3rd quarter. Leonard Rickey Investment Advisors P.L.L.C. now owns 5,192 shares of the bank’s stock worth $566,000 after purchasing an additional 98 shares during the period. Tiemann Investment Advisors LLC grew its position in Bank of New York Mellon by 2.9% during the 2nd quarter. Tiemann Investment Advisors LLC now owns 3,492 shares of the bank’s stock worth $318,000 after purchasing an additional 100 shares in the last quarter. Cary Street Partners Investment Advisory LLC raised its stake in Bank of New York Mellon by 13.7% during the 2nd quarter. Cary Street Partners Investment Advisory LLC now owns 828 shares of the bank’s stock valued at $75,000 after purchasing an additional 100 shares during the period. Finally, Hemington Wealth Management lifted its holdings in shares of Bank of New York Mellon by 6.3% in the second quarter. Hemington Wealth Management now owns 1,730 shares of the bank’s stock valued at $157,000 after purchasing an additional 102 shares in the last quarter. 85.31% of the stock is owned by hedge funds and other institutional investors.

Bank of New York Mellon Price Performance

BK opened at $121.34 on Friday. The stock has a fifty day moving average price of $115.07 and a 200 day moving average price of $107.51. The company has a current ratio of 0.71, a quick ratio of 0.70 and a debt-to-equity ratio of 0.81. The Bank of New York Mellon Corporation has a 1 year low of $70.46 and a 1 year high of $125.89. The stock has a market cap of $84.62 billion, a price-to-earnings ratio of 16.38, a PEG ratio of 1.16 and a beta of 1.11.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings results on Friday, October 31st. The bank reported $1.91 earnings per share for the quarter. The company had revenue of $5.07 billion during the quarter. Bank of New York Mellon had a return on equity of 14.37% and a net margin of 13.62%. Analysts forecast that The Bank of New York Mellon Corporation will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 5th. Shareholders of record on Friday, January 23rd will be paid a $0.53 dividend. The ex-dividend date is Friday, January 23rd. This represents a $2.12 dividend on an annualized basis and a yield of 1.7%. Bank of New York Mellon’s payout ratio is 28.61%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on BK. New Street Research set a $143.00 price target on Bank of New York Mellon in a report on Wednesday. Evercore ISI raised their price objective on Bank of New York Mellon from $91.00 to $110.00 and gave the stock an “in-line” rating in a research report on Tuesday, September 30th. Keefe, Bruyette & Woods upped their target price on Bank of New York Mellon from $132.00 to $143.00 and gave the company an “outperform” rating in a report on Wednesday. Morgan Stanley raised their price target on shares of Bank of New York Mellon from $124.00 to $132.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, Citigroup boosted their price objective on shares of Bank of New York Mellon from $120.00 to $136.00 and gave the company a “neutral” rating in a research report on Wednesday. Nine research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Bank of New York Mellon has an average rating of “Moderate Buy” and a consensus target price of $129.00.

Bank of New York Mellon Profile

Bank of New York Mellon Corporation (BNY Mellon) is a global financial services company headquartered in New York City that provides a wide range of asset servicing, custody, and related financial infrastructure solutions to institutional clients. Its core businesses include custody and asset servicing, clearing and collateral management, treasury services, securities lending, corporate trust services, and depositary receipt administration. The company also offers investment management and advisory services through its asset management arm and provides technology-enabled solutions for trade processing, foreign exchange, and liquidity management.

BNY Mellon serves a broad client base that includes asset managers, pension funds, corporations, banks, broker-dealers and sovereign entities.