Mirabella Financial Services LLP Takes $2.88 Million Position in The Bank of New York Mellon Corporation $BK

Mirabella Financial Services LLP acquired a new position in shares of The Bank of New York Mellon Corporation (NYSE:BK) in the third quarter, HoldingsChannel reports. The fund acquired 26,435 shares of the bank’s stock, valued at approximately $2,875,000.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Bank of New York Mellon by 0.7% in the second quarter. Vanguard Group Inc. now owns 71,092,148 shares of the bank’s stock valued at $6,477,206,000 after acquiring an additional 517,081 shares during the last quarter. Artisan Partners Limited Partnership increased its stake in Bank of New York Mellon by 0.9% during the second quarter. Artisan Partners Limited Partnership now owns 15,803,214 shares of the bank’s stock worth $1,439,831,000 after acquiring an additional 139,544 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Bank of New York Mellon by 18.0% in the 3rd quarter. Ameriprise Financial Inc. now owns 13,345,266 shares of the bank’s stock worth $1,454,116,000 after purchasing an additional 2,034,781 shares during the period. Norges Bank purchased a new position in shares of Bank of New York Mellon in the 2nd quarter worth about $1,081,847,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Bank of New York Mellon by 639.5% in the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,076,729 shares of the bank’s stock valued at $771,080,000 after purchasing an additional 6,119,749 shares in the last quarter. 85.31% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Keefe, Bruyette & Woods boosted their target price on 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. Citigroup initiated coverage on shares of Bank of New York Mellon in a report on Monday, February 23rd. They issued a “neutral” rating on the stock. New Street Research set a $143.00 price target on shares of Bank of New York Mellon in a research report on Wednesday, January 14th. Morgan Stanley boosted their price objective on shares of Bank of New York Mellon from $124.00 to $132.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 14th. Finally, Truist Financial raised shares of Bank of New York Mellon from a “hold” rating to a “buy” rating and increased their price objective for the stock from $119.00 to $134.00 in a research report on Wednesday, January 7th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $131.92.

Bank of New York Mellon Price Performance

BK stock opened at $114.61 on Thursday. The firm has a market cap of $78.88 billion, a P/E ratio of 15.47, a price-to-earnings-growth ratio of 1.08 and a beta of 1.10. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.71 and a current ratio of 0.71. The Bank of New York Mellon Corporation has a 1 year low of $70.46 and a 1 year high of $128.76. The stock has a 50-day simple moving average of $119.32 and a 200-day simple moving average of $113.42.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings results on Friday, October 31st. The bank reported $1.91 EPS for the quarter. The firm had revenue of $5.07 billion for the quarter. Bank of New York Mellon had a return on equity of 14.37% and a net margin of 13.62%. On average, equities analysts predict 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 Dividend Announcement

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

Bank of New York Mellon 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.