The Bank of New York Mellon Corporation $BK Shares Purchased by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC grew its position in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 27.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 24,152 shares of the bank’s stock after acquiring an additional 5,225 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Bank of New York Mellon were worth $2,632,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Westside Investment Management Inc. increased its position 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 worth $26,000 after purchasing an additional 127 shares in the last quarter. Valley Wealth Managers Inc. acquired a new stake in shares of Bank of New York Mellon in the third quarter worth $33,000. Caldwell Trust Co purchased a new position in shares of Bank of New York Mellon in the 2nd quarter valued at $36,000. Quaker Wealth Management LLC raised its stake in shares of Bank of New York Mellon by 198.9% in the 2nd quarter. Quaker Wealth Management LLC now owns 450 shares of the bank’s stock valued at $41,000 after acquiring an additional 905 shares during the period. Finally, Cornerstone Planning Group LLC boosted its position in Bank of New York Mellon by 73.2% during the 3rd quarter. Cornerstone Planning Group LLC now owns 511 shares of the bank’s stock worth $55,000 after purchasing an additional 216 shares during the period. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on the company. Weiss Ratings lowered Bank of New York Mellon from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Friday, February 13th. New Street Research set a $143.00 price target on Bank of New York Mellon in a research report on Wednesday, January 14th. Morgan Stanley upped their price target on 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. Wells Fargo & Company lifted their price objective on shares of Bank of New York Mellon from $119.00 to $122.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 14th. Finally, TD Cowen boosted their target price on shares of Bank of New York Mellon from $133.00 to $145.00 and gave the stock a “buy” rating in a research report on Wednesday, January 7th. Eight analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Bank of New York Mellon has an average rating of “Moderate Buy” and a consensus target price of $131.92.

Bank of New York Mellon Stock Down 1.1%

Shares of NYSE:BK opened at $118.16 on Friday. The company has a fifty day simple moving average of $119.30 and a 200 day simple moving average of $111.45. The firm has a market cap of $82.40 billion, a PE ratio of 15.95, a price-to-earnings-growth ratio of 1.12 and a beta of 1.10. The Bank of New York Mellon Corporation has a 12-month low of $70.46 and a 12-month high of $128.76. The company has a current ratio of 0.71, a quick ratio of 0.70 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 EPS for the quarter. The company 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%. On average, equities research analysts anticipate that The Bank of New York Mellon Corporation will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 5th. Stockholders of record on Friday, January 23rd were issued a $0.53 dividend. The ex-dividend date of this dividend was Friday, January 23rd. This represents a $2.12 annualized dividend and a dividend yield of 1.8%. Bank of New York Mellon’s payout ratio is 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.