18,656 Shares in The Bank of New York Mellon Corporation $BK Bought by Tounjian Advisory Partners LLC

Tounjian Advisory Partners LLC acquired a new stake in The Bank of New York Mellon Corporation (NYSE:BK) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 18,656 shares of the bank’s stock, valued at approximately $2,166,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BK. Ransom Advisory Ltd raised its stake in shares of Bank of New York Mellon by 1.3% in the 4th quarter. Ransom Advisory Ltd now owns 6,777 shares of the bank’s stock valued at $787,000 after purchasing an additional 85 shares during the period. Valeo Financial Advisors LLC boosted its position in shares of Bank of New York Mellon by 1.3% during the third quarter. Valeo Financial Advisors LLC now owns 7,539 shares of the bank’s stock worth $821,000 after buying an additional 94 shares during the period. Ferguson Wellman Capital Management Inc. grew its holdings in shares of Bank of New York Mellon by 0.4% during the third quarter. Ferguson Wellman Capital Management Inc. now owns 24,752 shares of the bank’s stock worth $2,697,000 after buying an additional 96 shares in the last quarter. Leonard Rickey Investment Advisors P.L.L.C. grew its holdings in shares of Bank of New York Mellon by 1.9% during the third quarter. Leonard Rickey Investment Advisors P.L.L.C. now owns 5,192 shares of the bank’s stock worth $566,000 after buying an additional 98 shares in the last quarter. Finally, Angeles Wealth Management LLC raised its position in Bank of New York Mellon by 2.6% in the 3rd quarter. Angeles Wealth Management LLC now owns 3,798 shares of the bank’s stock valued at $414,000 after buying an additional 98 shares during the last quarter. 85.31% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on BK shares. Truist Financial upgraded Bank of New York Mellon from a “hold” rating to a “buy” rating and boosted their target price for the company from $119.00 to $134.00 in a research note on Wednesday, January 7th. Royal Bank Of Canada lifted 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 report on Wednesday, January 14th. Keefe, Bruyette & Woods boosted 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 research report on Wednesday, January 14th. Citigroup initiated coverage on shares of Bank of New York Mellon in a report on Monday, February 23rd. They set a “neutral” rating for the company. Finally, Wells Fargo & Company raised 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 research report on Wednesday, January 14th. One equities research 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’s stock. According to MarketBeat.com, Bank of New York Mellon currently has a consensus rating of “Moderate Buy” and an average price target of $131.92.

Bank of New York Mellon Stock Down 0.0%

BK stock opened at $114.87 on Friday. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.81. The business has a 50 day moving average price of $119.13 and a two-hundred day moving average price of $113.56. The company has a market cap of $79.06 billion, a price-to-earnings ratio of 15.50, a P/E/G ratio of 1.07 and a beta of 1.10. The Bank of New York Mellon Corporation has a twelve month low of $70.46 and a twelve month high of $128.76.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings data on Friday, October 31st. The bank reported $1.91 earnings per share (EPS) for the quarter. The company had revenue of $5.07 billion for the quarter. Bank of New York Mellon had a return on equity of 14.37% and a net margin of 13.62%. Analysts anticipate 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 was paid on Thursday, February 5th. Shareholders of record on Friday, January 23rd were given a dividend of $0.53 per share. 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 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.