Dakota Wealth Management Has $24.34 Million Stake in The Bank of New York Mellon Corporation $BK

Key Points

• Dakota Wealth Management increased its stake in The Bank of New York Mellon by 6.7% to 209,626 shares (an added 13,190 shares), worth about $24.34 million at the end of the quarter.
• BNY Mellon beat expectations for the quarter with $2.08 EPS vs. a $1.97 consensus and reported $5.18 billion in revenue, up 6.8% year-over-year.
• The bank declared a quarterly dividend of $0.53 ($2.12 annualized, 1.8% yield) and carries an average analyst rating of "Moderate Buy" with a consensus price target of $131.92.

Dakota Wealth Management increased its stake in The Bank of New York Mellon Corporation (NYSE:BK - Free Report) by 6.7% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 209,626 shares of the bank's stock after acquiring an additional 13,190 shares during the quarter. Dakota Wealth Management's holdings in Bank of New York Mellon were worth $24,335,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Valley Wealth Managers Inc. bought a new stake in Bank of New York Mellon in the third quarter valued at $33,000. Caldwell Trust Co bought a new position in shares of Bank of New York Mellon during the 2nd quarter worth about $36,000. Westside Investment Management Inc. grew its stake in shares of Bank of New York Mellon by 44.1% in the 3rd quarter. Westside Investment Management Inc. now owns 415 shares of the bank's stock valued at $45,000 after buying an additional 127 shares during the period. Dunhill Financial LLC increased its position in Bank of New York Mellon by 130.8% in the 3rd quarter. Dunhill Financial LLC now owns 427 shares of the bank's stock valued at $47,000 after buying an additional 242 shares in the last quarter. Finally, Community Bank N.A. raised its stake in Bank of New York Mellon by 250.4% during the 3rd quarter. Community Bank N.A. now owns 438 shares of the bank's stock worth $48,000 after buying an additional 313 shares during the period. 85.31% of the stock is owned by institutional investors.

Bank of New York Mellon Trading Down 1.2%

NYSE BK opened at $116.58 on Friday. The business's fifty day moving average is $118.66 and its 200-day moving average is $113.85. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.71 and a quick ratio of 0.71. The stock has a market capitalization of $80.23 billion, a price-to-earnings ratio of 15.73, a PEG ratio of 1.10 and a beta of 1.10. The Bank of New York Mellon Corporation has a one year low of $70.46 and a one year high of $128.76.

Bank of New York Mellon (NYSE:BK - Get Free Report) last posted its quarterly earnings results on Tuesday, January 13th. The bank reported $2.08 earnings per share for the quarter, beating the consensus estimate of $1.97 by $0.11. The company had revenue of $5.18 billion during the quarter, compared to analyst estimates of $5.11 billion. Bank of New York Mellon had a net margin of 13.62% and a return on equity of 14.37%. The firm's revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.72 earnings per share. Equities research analysts predict 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 declared a quarterly dividend, which was paid on Thursday, February 5th. Stockholders of record on Friday, January 23rd were paid 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 1.8%. Bank of New York Mellon's dividend payout ratio (DPR) is presently 28.61%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Morgan Stanley raised their price objective on Bank of New York Mellon from $124.00 to $132.00 and gave the company an "overweight" rating in a research note on Wednesday, January 14th. Wells Fargo & Company upped their target price 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. Citigroup started coverage on Bank of New York Mellon in a report on Monday, February 23rd. They issued a "neutral" rating on the stock. Barclays boosted their price target on shares of 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. Finally, 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. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Bank of New York Mellon presently has an average rating of "Moderate Buy" and a consensus price target of $131.92.

About Bank of New York Mellon

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.

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