Arkadios Wealth Advisors Buys 3,004 Shares of The Bank of New York Mellon Corporation $BK

Arkadios Wealth Advisors increased its stake in The Bank of New York Mellon Corporation (NYSE:BK) by 5.6% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 56,705 shares of the bank’s stock after purchasing an additional 3,004 shares during the quarter. Arkadios Wealth Advisors’ holdings in Bank of New York Mellon were worth $5,166,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Cornerstone Planning Group LLC increased its stake in shares of Bank of New York Mellon by 100.0% in the 1st quarter. Cornerstone Planning Group LLC now owns 392 shares of the bank’s stock valued at $30,000 after acquiring an additional 196 shares in the last quarter. Orion Capital Management LLC bought a new stake in shares of Bank of New York Mellon in the 1st quarter valued at $32,000. Hoey Investments Inc. bought a new stake in shares of Bank of New York Mellon in the 2nd quarter valued at $32,000. Golden State Wealth Management LLC increased its stake in Bank of New York Mellon by 226.4% during the 1st quarter. Golden State Wealth Management LLC now owns 408 shares of the bank’s stock valued at $34,000 after purchasing an additional 283 shares in the last quarter. Finally, McClarren Financial Advisors Inc. bought a new stake in Bank of New York Mellon during the 1st quarter valued at $34,000. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Stock Performance

NYSE BK opened at $107.00 on Thursday. The Bank of New York Mellon Corporation has a 1 year low of $70.46 and a 1 year high of $110.87. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.70 and a quick ratio of 0.72. The firm has a market cap of $75.46 billion, a price-to-earnings ratio of 15.44, a PEG ratio of 0.99 and a beta of 1.13. The company has a fifty day moving average price of $106.46 and a 200-day moving average price of $96.42.

Bank of New York Mellon (NYSE:BK) last posted its earnings results on Tuesday, March 26th. The bank reported $1.30 earnings per share (EPS) for the quarter. Bank of New York Mellon had a net margin of 12.86% and a return on equity of 14.03%. The firm had revenue of $4.38 billion during the quarter. As a group, equities research analysts predict 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 company also recently announced a quarterly dividend, which will be paid on Friday, November 7th. Stockholders of record on Monday, October 27th will be paid a $0.53 dividend. The ex-dividend date is Monday, October 27th. This represents a $2.12 annualized dividend and a dividend yield of 2.0%. Bank of New York Mellon’s dividend payout ratio is presently 30.59%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Truist Financial boosted their price target on shares of Bank of New York Mellon from $118.00 to $119.00 and gave the company a “hold” rating in a research note on Friday, October 17th. Evercore ISI boosted 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 note on Tuesday, September 30th. Weiss Ratings upgraded shares of Bank of New York Mellon from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Friday, October 24th. Citigroup boosted their price target on shares of Bank of New York Mellon from $92.00 to $105.00 and gave the company a “neutral” rating in a research note on Friday, September 5th. Finally, The Goldman Sachs Group boosted their price target on shares of Bank of New York Mellon from $106.00 to $120.00 and gave the company a “buy” rating in a research note on Monday, October 6th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $111.29.

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.