Meridian Wealth Management LLC Acquires 7,926 Shares of The Bank of New York Mellon Corporation $BK

Meridian Wealth Management LLC increased its stake in The Bank of New York Mellon Corporation (NYSE:BK) by 168.8% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 12,621 shares of the bank’s stock after purchasing an additional 7,926 shares during the quarter. Meridian Wealth Management LLC’s holdings in Bank of New York Mellon were worth $1,375,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the stock. Valeo Financial Advisors LLC increased its stake in Bank of New York Mellon by 1.3% in the third quarter. Valeo Financial Advisors LLC now owns 7,539 shares of the bank’s stock valued at $821,000 after purchasing an additional 94 shares in the last quarter. Ferguson Wellman Capital Management Inc. grew its stake in shares of Bank of New York Mellon by 0.4% in the 3rd quarter. Ferguson Wellman Capital Management Inc. now owns 24,752 shares of the bank’s stock valued at $2,697,000 after buying an additional 96 shares during the period. Leonard Rickey Investment Advisors P.L.L.C. increased its position 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 valued at $566,000 after buying an additional 98 shares in the last quarter. Tiemann Investment Advisors LLC raised its stake 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 buying an additional 100 shares during the period. Finally, 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 worth $75,000 after buying an additional 100 shares during the period. Institutional investors and hedge funds own 85.31% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. New Street Research set a $143.00 price objective on Bank of New York Mellon 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 boosted their price target for the company from $119.00 to $134.00 in a research note on Wednesday, January 7th. TD Cowen upped their price objective on shares of Bank of New York Mellon from $133.00 to $145.00 and gave the stock a “buy” rating in a report on Wednesday, January 7th. Barclays lifted their price objective on shares of Bank of New York Mellon from $120.00 to $143.00 and gave the company an “overweight” rating in a report on Monday, January 5th. Finally, The Goldman Sachs Group upped their target price on shares of Bank of New York Mellon from $106.00 to $120.00 and gave the stock a “buy” rating in a report on Monday, October 6th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, Bank of New York Mellon has a consensus rating of “Moderate Buy” and a consensus target price of $131.92.

Bank of New York Mellon Stock Performance

NYSE BK opened at $121.62 on Tuesday. The company has a fifty day moving average price of $117.47 and a 200-day moving average price of $109.75. The firm has a market cap of $84.81 billion, a price-to-earnings ratio of 16.41, a PEG ratio of 1.12 and a beta of 1.10. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.71 and a quick ratio of 0.70. The Bank of New York Mellon Corporation has a 1 year low of $70.46 and a 1 year high of $125.89.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings results on Friday, October 31st. The bank reported $1.91 earnings per share for the quarter. The business had revenue of $5.07 billion for the quarter. Bank of New York Mellon had a net margin of 13.62% and a return on equity of 14.37%. As a group, equities research analysts predict 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 declared a quarterly dividend, which will be paid on Thursday, February 5th. Investors of record on Friday, January 23rd will be given 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 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.