Jones Financial Companies Lllp Acquires 8,277 Shares of The Bank of New York Mellon Corporation $BK

Jones Financial Companies Lllp grew its holdings in The Bank of New York Mellon Corporation (NYSE:BK) by 35.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,848 shares of the bank’s stock after purchasing an additional 8,277 shares during the period. Jones Financial Companies Lllp’s holdings in Bank of New York Mellon were worth $3,487,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Westside Investment Management Inc. lifted 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 during the period. Valley Wealth Managers Inc. bought a new position in Bank of New York Mellon during the third quarter valued at approximately $33,000. Caldwell Trust Co purchased a new stake in Bank of New York Mellon in the second quarter worth approximately $36,000. Princeton Global Asset Management LLC grew its position in Bank of New York Mellon by 89.0% in the 2nd quarter. Princeton Global Asset Management LLC now owns 446 shares of the bank’s stock worth $41,000 after purchasing an additional 210 shares during the period. Finally, Quaker Wealth Management LLC raised its stake in Bank of New York Mellon by 198.9% during the 2nd quarter. Quaker Wealth Management LLC now owns 450 shares of the bank’s stock valued at $41,000 after buying an additional 905 shares during the last quarter. 85.31% of the stock is owned by institutional investors.

Bank of New York Mellon Price Performance

NYSE:BK opened at $124.42 on Friday. The business’s 50-day simple moving average is $118.30 and its two-hundred day simple moving average is $110.30. The Bank of New York Mellon Corporation has a 52 week low of $70.46 and a 52 week high of $125.89. The stock has a market cap of $86.76 billion, a PE ratio of 16.79, a P/E/G ratio of 1.16 and a beta of 1.10. The company has a quick ratio of 0.70, a current ratio of 0.71 and a debt-to-equity ratio of 0.81.

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

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on BK shares. Keefe, Bruyette & Woods raised their price target 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. Truist Financial raised Bank of New York Mellon from a “hold” rating to a “buy” rating and raised their target price for the stock from $119.00 to $134.00 in a research report on Wednesday, January 7th. Barclays boosted their price target on Bank of New York Mellon from $120.00 to $143.00 and gave the company an “overweight” rating in a research note on Monday, January 5th. Wells Fargo & Company increased their price objective on shares of Bank of New York Mellon from $119.00 to $122.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 14th. Finally, Morgan Stanley raised their price objective 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, January 14th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $131.92.

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.