Arkadios Wealth Advisors Has $7.57 Million Stock Position in The Bank of New York Mellon Corporation $BK

Arkadios Wealth Advisors grew its holdings in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 22.6% during the third quarter, Holdings Channel reports. The firm owned 69,513 shares of the bank’s stock after purchasing an additional 12,808 shares during the period. Arkadios Wealth Advisors’ holdings in Bank of New York Mellon were worth $7,574,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Bank of New York Mellon by 0.7% during the 2nd quarter. Vanguard Group Inc. now owns 71,092,148 shares of the bank’s stock worth $6,477,206,000 after acquiring an additional 517,081 shares in the last quarter. Geode Capital Management LLC boosted its position in Bank of New York Mellon by 4.3% during the second quarter. Geode Capital Management LLC now owns 18,898,373 shares of the bank’s stock worth $1,717,074,000 after purchasing an additional 785,478 shares during the period. Artisan Partners Limited Partnership grew its holdings in Bank of New York Mellon by 0.9% during the second quarter. Artisan Partners Limited Partnership now owns 15,803,214 shares of the bank’s stock valued at $1,439,831,000 after purchasing an additional 139,544 shares during the last quarter. Norges Bank acquired a new position in Bank of New York Mellon during the second quarter valued at approximately $1,081,847,000. Finally, Robeco Institutional Asset Management B.V. lifted its stake in shares of Bank of New York Mellon by 36.4% in the third quarter. Robeco Institutional Asset Management B.V. now owns 2,166,052 shares of the bank’s stock worth $236,013,000 after buying an additional 577,621 shares during the last quarter. 85.31% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on BK shares. Royal Bank Of Canada upped their price objective on shares of Bank of New York Mellon from $124.00 to $130.00 and gave the stock a “sector perform” rating in a report on Wednesday, January 14th. Truist Financial upgraded shares of Bank of New York Mellon from a “hold” rating to a “buy” rating and upped their price target for the company from $119.00 to $134.00 in a report on Wednesday, January 7th. Keefe, Bruyette & Woods lifted their price objective on Bank of New York Mellon from $132.00 to $143.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 14th. Wells Fargo & Company boosted their price objective on Bank of New York Mellon from $119.00 to $122.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 14th. Finally, The Goldman Sachs Group raised their target price on Bank of New York Mellon from $106.00 to $120.00 and gave the company a “buy” rating in a report on Monday, October 6th. Nine investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $129.00.

Bank of New York Mellon Trading Down 2.1%

Bank of New York Mellon stock opened at $121.34 on Tuesday. The business has a 50 day moving average price of $115.28 and a two-hundred day moving average price of $107.95. The company has a quick ratio of 0.70, a current ratio of 0.71 and a debt-to-equity ratio of 0.81. The Bank of New York Mellon Corporation has a 12 month low of $70.46 and a 12 month high of $125.89. The stock has a market cap of $84.62 billion, a price-to-earnings ratio of 16.38, a price-to-earnings-growth ratio of 1.13 and a beta of 1.11.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings data on Friday, October 31st. The bank reported $1.91 earnings per share (EPS) for the quarter. The business had revenue of $5.07 billion for the quarter. Bank of New York Mellon had a return on equity of 14.37% and a net margin of 13.62%. 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 firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 5th. Stockholders of record on Friday, January 23rd will be issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, January 23rd. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 28.61%.

Bank of New York Mellon Company 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.