First Horizon Advisors Inc. Has $42.97 Million Stake in The Bank of New York Mellon Corporation $BK

First Horizon Advisors Inc. lifted its position in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 1.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 471,602 shares of the bank’s stock after purchasing an additional 4,992 shares during the quarter. Bank of New York Mellon accounts for 1.1% of First Horizon Advisors Inc.’s investment portfolio, making the stock its 16th largest holding. First Horizon Advisors Inc. owned 0.07% of Bank of New York Mellon worth $42,968,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Westside Investment Management Inc. raised its position in shares of Bank of New York Mellon by 78.9% during the second quarter. Westside Investment Management Inc. now owns 288 shares of the bank’s stock worth $26,000 after purchasing an additional 127 shares during the period. Cornerstone Planning Group LLC raised its position in shares of Bank of New York Mellon by 100.0% during the first quarter. Cornerstone Planning Group LLC now owns 392 shares of the bank’s stock worth $30,000 after purchasing an additional 196 shares during the period. Orion Capital Management LLC acquired a new position in shares of Bank of New York Mellon during the first quarter worth approximately $32,000. Hoey Investments Inc. acquired a new position in shares of Bank of New York Mellon during the second quarter worth approximately $32,000. Finally, McClarren Financial Advisors Inc. acquired a new position in shares of Bank of New York Mellon during the first quarter worth approximately $34,000. 85.31% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently commented on BK. BMO Capital Markets began coverage on Bank of New York Mellon in a research report on Friday, October 3rd. They issued an “outperform” rating and a $125.00 price target for the company. Barclays increased their price target on Bank of New York Mellon from $104.00 to $120.00 and gave the company an “overweight” rating in a research report on Friday, October 17th. TD Cowen increased their price target on Bank of New York Mellon from $130.00 to $133.00 and gave the company a “buy” rating in a research report on Monday, October 20th. 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 research report on Monday, October 6th. Finally, Truist Financial increased their price target on Bank of New York Mellon from $118.00 to $119.00 and gave the company a “hold” rating in a research report on Friday, October 17th. One 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 company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $111.29.

Bank of New York Mellon Stock Down 0.0%

Shares of NYSE:BK opened at $108.02 on Wednesday. The company has a market capitalization of $76.18 billion, a PE ratio of 15.59, a price-to-earnings-growth ratio of 0.98 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. The business has a fifty day moving average price of $106.86 and a two-hundred day moving average price of $97.44. The Bank of New York Mellon Corporation has a 1 year low of $70.46 and a 1 year high of $110.87.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings data on Tuesday, March 26th. The bank reported $1.30 earnings per share (EPS) for the quarter. The firm had revenue of $4.38 billion during the quarter. Bank of New York Mellon had a return on equity of 14.03% and a net margin of 12.86%. Analysts forecast that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 7th. Shareholders of record on Monday, October 27th will be paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Monday, October 27th. Bank of New York Mellon’s dividend payout ratio is 30.59%.

Bank of New York Mellon 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.