Dakota Wealth Management Has $21.40 Million Position in The Bank of New York Mellon Corporation $BK

Dakota Wealth Management raised its stake in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 11.2% in the third quarter, Holdings Channel reports. The fund owned 196,436 shares of the bank’s stock after acquiring an additional 19,825 shares during the period. Dakota Wealth Management’s holdings in Bank of New York Mellon were worth $21,404,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Westside Investment Management Inc. increased its position in shares of 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 position in Bank of New York Mellon in the third quarter valued at about $33,000. Caldwell Trust Co bought a new stake in Bank of New York Mellon during the second quarter worth about $36,000. Quaker Wealth Management LLC increased its holdings in shares of Bank of New York Mellon by 198.9% during the second quarter. Quaker Wealth Management LLC now owns 450 shares of the bank’s stock worth $41,000 after buying an additional 905 shares in the last quarter. Finally, Twin Peaks Wealth Advisors LLC bought a new position in shares of Bank of New York Mellon in the second quarter valued at approximately $52,000. Institutional investors and hedge funds own 85.31% of the company’s stock.

Bank of New York Mellon Trading Down 2.3%

BK stock opened at $115.42 on Tuesday. 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 twelve month low of $70.46 and a twelve month high of $128.76. The company has a market cap of $80.49 billion, a P/E ratio of 15.58, a PEG ratio of 1.10 and a beta of 1.10. The business has a fifty day moving average of $119.30 and a 200-day moving average of $111.81.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings data on Friday, October 31st. The bank reported $1.91 earnings per share for the quarter. Bank of New York Mellon had a net margin of 13.62% and a return on equity of 14.37%. The business had revenue of $5.07 billion for the quarter. As a group, equities research analysts expect that The Bank of New York Mellon Corporation will post 6.96 EPS for the current year.

Bank of New York Mellon Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 5th. Investors of record on Friday, January 23rd were paid a dividend of $0.53 per share. The ex-dividend date of this dividend was Friday, January 23rd. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.8%. Bank of New York Mellon’s payout ratio is 28.61%.

Wall Street Analyst Weigh In

BK has been the topic of a number of research analyst reports. Morgan Stanley increased their price target on Bank of New York Mellon from $124.00 to $132.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 14th. Truist Financial upgraded Bank of New York Mellon from a “hold” rating to a “buy” rating and increased their target price for the stock from $119.00 to $134.00 in a report on Wednesday, January 7th. Barclays raised their target price 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. TD Cowen upped their price target 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. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Bank of New York Mellon from $132.00 to $143.00 and gave the stock an “outperform” rating in a report on Wednesday, January 14th. Eight analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target 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.