Joel Isaacson & Co. LLC Buys 4,652 Shares of The Bank of New York Mellon Corporation $BK

Joel Isaacson & Co. LLC lifted its stake in The Bank of New York Mellon Corporation (NYSE:BK) by 13.4% in the 3rd quarter, Holdings Channel.com reports. The firm owned 39,385 shares of the bank’s stock after buying an additional 4,652 shares during the quarter. Joel Isaacson & Co. LLC’s holdings in Bank of New York Mellon were worth $4,291,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of BK. Westside Investment Management Inc. lifted its stake in shares of Bank of New York Mellon by 78.9% in the second quarter. Westside Investment Management Inc. now owns 288 shares of the bank’s stock worth $26,000 after buying an additional 127 shares in the last quarter. Hoey Investments Inc. purchased a new position in Bank of New York Mellon in the 2nd quarter worth approximately $32,000. GFG Capital LLC purchased a new position in Bank of New York Mellon in the 2nd quarter worth approximately $36,000. Caldwell Trust Co purchased a new stake in Bank of New York Mellon during the 2nd quarter valued at $36,000. Finally, Princeton Global Asset Management LLC increased its holdings in shares of Bank of New York Mellon by 89.0% in the 2nd quarter. Princeton Global Asset Management LLC now owns 446 shares of the bank’s stock worth $41,000 after purchasing an additional 210 shares in the last quarter. 85.31% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on BK shares. TD Cowen increased their price objective on Bank of New York Mellon from $133.00 to $145.00 and gave the company a “buy” rating in a research report on Wednesday, January 7th. Citigroup raised their price target 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. Royal Bank Of Canada increased their price objective on shares of Bank of New York Mellon from $124.00 to $130.00 and gave the company a “sector perform” rating in a research report on Wednesday, January 14th. New Street Research set a $143.00 target price on shares of Bank of New York Mellon in a research report on Wednesday, January 14th. Finally, BMO Capital Markets started coverage on shares of Bank of New York Mellon in a research note on Friday, October 3rd. They set an “outperform” rating and a $125.00 target price for the company. Eight investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, Bank of New York Mellon has a consensus rating of “Moderate Buy” and a consensus price target of $131.92.

Bank of New York Mellon Trading Down 0.6%

Shares of Bank of New York Mellon stock opened at $120.60 on Wednesday. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.71 and a quick ratio of 0.70. The stock has a market capitalization of $84.10 billion, a PE ratio of 16.28, a P/E/G ratio of 1.13 and a beta of 1.11. The Bank of New York Mellon Corporation has a 1-year low of $70.46 and a 1-year high of $125.89. The company’s fifty day simple moving average is $115.46 and its 200-day simple moving average is $108.15.

Bank of New York Mellon (NYSE:BK) last announced its 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 company had revenue of $5.07 billion for the quarter. As a group, equities analysts anticipate that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 5th. Investors of record on Friday, January 23rd will be paid a dividend of $0.53 per share. The ex-dividend date is Friday, January 23rd. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.8%. Bank of New York Mellon’s payout ratio is 28.61%.

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.