Meadow Creek Wealth Advisors LLC Takes $214,000 Position in The Bank of New York Mellon Corporation $BK

Key Points

• Meadow Creek Wealth Advisors LLC has acquired a position in The Bank of New York Mellon Corporation, purchasing 2,354 shares valued at approximately $214,000 during the 2nd quarter.
• Equities research analysts have shown optimism, with Goldman Sachs raising its price target from $106.00 to $120.00, reflecting a strong buy rating for the stock.
• The Bank of New York Mellon recently announced a quarterly dividend of $0.53 per share, with an upcoming payment date of November 7th.

Meadow Creek Wealth Advisors LLC purchased a new position in shares of The Bank of New York Mellon Corporation (NYSE:BK - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,354 shares of the bank's stock, valued at approximately $214,000.

Several other institutional investors also recently bought and sold shares of the company. Rehmann Capital Advisory Group acquired a new stake in shares of Bank of New York Mellon in the second quarter worth approximately $274,000. Exencial Wealth Advisors LLC lifted its stake in shares of Bank of New York Mellon by 8.7% in the second quarter. Exencial Wealth Advisors LLC now owns 3,601 shares of the bank's stock worth $328,000 after buying an additional 288 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its position in Bank of New York Mellon by 1.1% during the second quarter. DekaBank Deutsche Girozentrale now owns 265,166 shares of the bank's stock worth $24,292,000 after acquiring an additional 2,805 shares during the last quarter. Princeton Global Asset Management LLC grew its stake in Bank of New York Mellon by 89.0% during the 2nd quarter. Princeton Global Asset Management LLC now owns 446 shares of the bank's stock valued at $41,000 after acquiring an additional 210 shares in the last quarter. Finally, Beverly Hills Private Wealth LLC raised its holdings in Bank of New York Mellon by 25.9% in the 2nd quarter. Beverly Hills Private Wealth LLC now owns 23,349 shares of the bank's stock valued at $2,127,000 after acquiring an additional 4,806 shares during the last quarter. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on BK shares. The Goldman Sachs Group increased their price target on Bank of New York Mellon from $106.00 to $120.00 and gave the company a "buy" rating in a report on Monday, October 6th. Morgan Stanley raised their price objective on shares of Bank of New York Mellon from $101.00 to $116.00 and gave the stock an "overweight" rating in a research report on Monday, September 29th. Evercore ISI lifted their price target on shares of Bank of New York Mellon from $91.00 to $110.00 and gave the company an "in-line" rating in a research report on Tuesday, September 30th. Truist Financial raised their target price on Bank of New York Mellon from $118.00 to $119.00 and gave the stock a "hold" rating in a research note on Friday, October 17th. Finally, TD Cowen boosted their price objective on shares of Bank of New York Mellon from $130.00 to $133.00 and gave the company a "buy" rating in a report on Monday. Ten equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat, Bank of New York Mellon currently has an average rating of "Moderate Buy" and an average price target of $111.29.

Bank of New York Mellon Stock Down 1.3%

BK opened at $107.05 on Wednesday. The business has a 50 day simple moving average of $105.77 and a 200-day simple moving average of $94.98. The Bank of New York Mellon Corporation has a 12 month low of $70.46 and a 12 month high of $110.87. The stock has a market capitalization of $75.50 billion, a P/E ratio of 15.45, a P/E/G ratio of 1.00 and a beta of 1.13. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.70 and a quick ratio of 0.72.

Bank of New York Mellon (NYSE:BK - Get Free Report) last released its earnings results on Tuesday, March 26th. The bank reported $1.30 EPS for the quarter. Bank of New York Mellon had a return on equity of 14.03% and a net margin of 12.86%.The company had revenue of $4.38 billion during the quarter. On average, equities analysts anticipate that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current fiscal year.

Bank of New York Mellon Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 7th. Stockholders of record on Monday, October 27th will be paid a dividend of $0.53 per share. The ex-dividend date of this dividend is Monday, October 27th. This represents a $2.12 annualized dividend and a dividend yield of 2.0%. Bank of New York Mellon's payout ratio is 30.59%.

Bank of New York Mellon Company Profile

The Bank of New York Mellon Corporation provides a range of financial products and services in the United States and internationally. The company operates through Securities Services, Market and Wealth Services, Investment and Wealth Management, and other segments. The Securities Services segment offers custody, trust and depositary, accounting, exchange-traded funds, middle-office solutions, transfer agency, services for private equity and real estate funds, foreign exchange, securities lending, liquidity/lending services, and data analytics.

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