The Bank of New York Mellon Corporation $BK Shares Bought by Atria Investments Inc

Atria Investments Inc grew its holdings in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 9.7% in the second quarter, according to its most recent filing with the SEC. The firm owned 92,615 shares of the bank’s stock after acquiring an additional 8,189 shares during the quarter. Atria Investments Inc’s holdings in Bank of New York Mellon were worth $8,438,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Hoey Investments Inc. acquired a new position in Bank of New York Mellon during the 2nd quarter worth $32,000. Orion Capital Management LLC acquired a new stake in Bank of New York Mellon in the first quarter worth approximately $32,000. Cornerstone Planning Group LLC lifted its position in Bank of New York Mellon by 100.0% in 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. GFG Capital LLC acquired a new stake in Bank of New York Mellon in the second quarter worth approximately $36,000. Finally, Golden State Wealth Management LLC lifted its position in Bank of New York Mellon by 226.4% in the first quarter. Golden State Wealth Management LLC now owns 408 shares of the bank’s stock worth $34,000 after purchasing an additional 283 shares during the period. Institutional investors and hedge funds own 85.31% of the company’s stock.

Bank of New York Mellon Trading Up 0.7%

NYSE BK opened at $107.85 on Friday. 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 current ratio of 0.70, a quick ratio of 0.72 and a debt-to-equity ratio of 0.83. The company has a market capitalization of $76.06 billion, a PE ratio of 15.56, a price-to-earnings-growth ratio of 0.98 and a beta of 1.13. The firm’s fifty day simple moving average is $106.58 and its 200-day simple moving average is $96.50.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings results on Tuesday, March 26th. The bank reported $1.30 earnings per share for the quarter. Bank of New York Mellon had a net margin of 12.86% and a return on equity of 14.03%. The business had revenue of $4.38 billion for the quarter. As a group, sell-side 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 business 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 $0.53 dividend. The ex-dividend date of this dividend is Monday, October 27th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.0%. Bank of New York Mellon’s dividend payout ratio is 30.59%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on BK. Keefe, Bruyette & Woods upped their target price on Bank of New York Mellon from $120.00 to $124.00 and gave the stock an “outperform” rating in a research report on Friday, October 17th. Morgan Stanley upped their target price on 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. Wells Fargo & Company upped their target price on Bank of New York Mellon from $100.00 to $109.00 and gave the stock an “equal weight” rating in a research report on Friday, October 17th. 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 target price for the company. Finally, TD Cowen upped their target price on Bank of New York Mellon from $130.00 to $133.00 and gave the stock a “buy” rating in a research report on Monday, October 20th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $111.29.

About Bank of New York Mellon

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.