Northstar Advisory Group LLC Has $5.39 Million Position in The Bank of New York Mellon Corporation $BK

Northstar Advisory Group LLC grew its holdings in The Bank of New York Mellon Corporation (NYSE:BK) by 14.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 49,500 shares of the bank’s stock after purchasing an additional 6,270 shares during the quarter. Bank of New York Mellon comprises about 2.2% of Northstar Advisory Group LLC’s portfolio, making the stock its 13th biggest position. Northstar Advisory Group LLC’s holdings in Bank of New York Mellon were worth $5,394,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in BK. Ferguson Wellman Capital Management Inc. lifted its stake in Bank of New York Mellon by 0.4% in the third quarter. Ferguson Wellman Capital Management Inc. now owns 24,752 shares of the bank’s stock valued at $2,697,000 after buying an additional 96 shares during the period. Leonard Rickey Investment Advisors P.L.L.C. increased its stake in shares of Bank of New York Mellon by 1.9% in the 3rd quarter. Leonard Rickey Investment Advisors P.L.L.C. now owns 5,192 shares of the bank’s stock valued at $566,000 after acquiring an additional 98 shares in the last quarter. Tiemann Investment Advisors LLC lifted its position in shares of Bank of New York Mellon by 2.9% during the 2nd quarter. Tiemann Investment Advisors LLC now owns 3,492 shares of the bank’s stock valued at $318,000 after acquiring an additional 100 shares during the period. Cary Street Partners Investment Advisory LLC boosted its stake in Bank of New York Mellon by 13.7% during the second quarter. Cary Street Partners Investment Advisory LLC now owns 828 shares of the bank’s stock worth $75,000 after acquiring an additional 100 shares in the last quarter. Finally, Hemington Wealth Management boosted its stake in Bank of New York Mellon by 6.3% during the second quarter. Hemington Wealth Management now owns 1,730 shares of the bank’s stock worth $157,000 after acquiring an additional 102 shares in the last quarter. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Stock Up 1.2%

BK stock opened at $119.08 on Tuesday. The firm has a market capitalization of $83.04 billion, a PE ratio of 16.07, a P/E/G ratio of 1.10 and a beta of 1.11. The company has a quick ratio of 0.70, a current ratio of 0.71 and a debt-to-equity ratio of 0.81. The Bank of New York Mellon Corporation has a twelve month low of $70.46 and a twelve month high of $125.89. The stock’s 50 day moving average is $116.18 and its 200-day moving average is $108.88.

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. Bank of New York Mellon had a return on equity of 14.37% and a net margin of 13.62%.The business had revenue of $5.07 billion during the quarter. Sell-side analysts expect that The Bank of New York Mellon Corporation will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 5th. Investors of record on Friday, January 23rd will be 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 is Friday, January 23rd. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 28.61%.

Analyst Ratings Changes

BK has been the topic of several research reports. Citigroup upped their price objective on shares of Bank of New York Mellon from $120.00 to $136.00 and gave the company a “neutral” rating in a report on Wednesday, January 14th. The Goldman Sachs Group boosted their target price 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. Morgan Stanley upped their price target on 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. Evercore ISI raised their price objective on 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. Finally, Royal Bank Of Canada upped their target price on Bank of New York Mellon from $124.00 to $130.00 and gave the stock a “sector perform” rating in a research report on Wednesday, January 14th. Eight equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $131.92.

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.