Tradewinds LLC. Buys New Position in The Bank of New York Mellon Corporation $BK

Tradewinds LLC. bought a new stake in shares of The Bank of New York Mellon Corporation (NYSE:BK) in the 3rd quarter, HoldingsChannel reports. The firm bought 7,577 shares of the bank’s stock, valued at approximately $826,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Courier Capital LLC lifted its holdings in shares of Bank of New York Mellon by 158.7% during the 3rd quarter. Courier Capital LLC now owns 14,431 shares of the bank’s stock worth $1,572,000 after acquiring an additional 8,852 shares during the last quarter. Allstate Corp purchased a new stake in Bank of New York Mellon during the third quarter valued at about $2,811,000. NorthCrest Asset Manangement LLC bought a new stake in Bank of New York Mellon during the third quarter worth about $389,000. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Bank of New York Mellon by 76.0% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 335,522 shares of the bank’s stock worth $35,877,000 after purchasing an additional 144,869 shares in the last quarter. Finally, Florida Trust Wealth Management Co increased its position in shares of Bank of New York Mellon by 5.5% during the 3rd quarter. Florida Trust Wealth Management Co now owns 16,058 shares of the bank’s stock valued at $1,750,000 after purchasing an additional 840 shares during the last quarter. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Stock Down 2.1%

Shares of Bank of New York Mellon stock opened at $121.34 on Monday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.70 and a current ratio of 0.71. The Bank of New York Mellon Corporation has a 52-week low of $70.46 and a 52-week high of $125.89. The company’s 50 day moving average price is $115.07 and its 200-day moving average price is $107.74. The stock has a market capitalization of $84.62 billion, a price-to-earnings ratio of 16.38, a P/E/G ratio of 1.13 and a beta of 1.11.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings results on Friday, October 31st. The bank reported $1.91 earnings per share for the quarter. The business had revenue of $5.07 billion during the quarter. Bank of New York Mellon had a net margin of 13.62% and a return on equity of 14.37%. Equities research analysts forecast that The Bank of New York Mellon Corporation will post 6.96 EPS for the current year.

Bank of New York Mellon Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 5th. Investors of record on Friday, January 23rd will be issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Friday, January 23rd. Bank of New York Mellon’s payout ratio is currently 28.61%.

Wall Street Analyst Weigh In

Several analysts have issued reports on BK shares. TD Cowen upped their target price on Bank of New York Mellon from $133.00 to $145.00 and gave the stock a “buy” rating in a research note on Wednesday, January 7th. Citigroup boosted their price objective on shares of Bank of New York Mellon from $120.00 to $136.00 and gave the stock a “neutral” rating in a report on Wednesday, January 14th. Weiss Ratings reaffirmed a “buy (b+)” rating on shares of Bank of New York Mellon in a research note on Monday, December 29th. Royal Bank Of Canada lifted their target price on shares of 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. Finally, BMO Capital Markets began coverage on shares of Bank of New York Mellon in a research note on Friday, October 3rd. They issued an “outperform” rating and a $125.00 price target for the company. Nine equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $129.00.

Bank of New York Mellon Company 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.