Dakota Wealth Management Boosts Stock Holdings in The Bank of New York Mellon Corporation $BK

Dakota Wealth Management boosted its position in The Bank of New York Mellon Corporation (NYSE:BK) by 6.7% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 209,626 shares of the bank’s stock after purchasing an additional 13,190 shares during the period. Dakota Wealth Management’s holdings in Bank of New York Mellon were worth $24,335,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Valley Wealth Managers Inc. purchased a new position in shares of Bank of New York Mellon during the 3rd quarter valued at $33,000. Caldwell Trust Co purchased a new stake in Bank of New York Mellon in the 2nd quarter worth about $36,000. Westside Investment Management Inc. increased its holdings in Bank of New York Mellon by 44.1% in the 3rd quarter. Westside Investment Management Inc. now owns 415 shares of the bank’s stock worth $45,000 after acquiring an additional 127 shares during the last quarter. Dunhill Financial LLC raised its stake in Bank of New York Mellon by 130.8% in the 3rd quarter. Dunhill Financial LLC now owns 427 shares of the bank’s stock valued at $47,000 after acquiring an additional 242 shares during the period. Finally, Community Bank N.A. raised its stake in Bank of New York Mellon by 250.4% in the 3rd quarter. Community Bank N.A. now owns 438 shares of the bank’s stock valued at $48,000 after acquiring an additional 313 shares during the period. 85.31% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

BK has been the subject of a number of research reports. 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. TD Cowen upped their price target on shares of Bank of New York Mellon from $133.00 to $145.00 and gave the company a “buy” rating in a research note on Wednesday, January 7th. Keefe, Bruyette & Woods raised their price objective on shares of 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. Weiss Ratings upgraded shares of Bank of New York Mellon from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Wednesday, March 11th. Finally, Wells Fargo & Company boosted their target price on shares of Bank of New York Mellon from $119.00 to $122.00 and gave the company an “equal weight” rating in a report on Wednesday, January 14th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $131.92.

Bank of New York Mellon Stock Down 1.2%

BK stock opened at $116.58 on Friday. The stock has a 50-day simple moving average of $118.66 and a two-hundred day simple moving average of $113.85. The Bank of New York Mellon Corporation has a twelve month low of $70.46 and a twelve month high of $128.76. The firm has a market capitalization of $80.23 billion, a PE ratio of 15.73, a PEG ratio of 1.10 and a beta of 1.10. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.81.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings results on Tuesday, January 13th. The bank reported $2.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.97 by $0.11. The firm had revenue of $5.18 billion for the quarter, compared to the consensus estimate of $5.11 billion. Bank of New York Mellon had a net margin of 13.62% and a return on equity of 14.37%. The company’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.72 earnings per share. On average, equities analysts predict that The Bank of New York Mellon Corporation will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 5th. Shareholders of record on Friday, January 23rd were issued a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend was Friday, January 23rd. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 28.61%.

About Bank of New York Mellon

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.