Northstar Advisory Group LLC Acquires 6,270 Shares of The Bank of New York Mellon Corporation $BK

Northstar Advisory Group LLC increased its holdings in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 14.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 49,500 shares of the bank’s stock after acquiring an additional 6,270 shares during the quarter. Bank of New York Mellon makes up about 2.2% of Northstar Advisory Group LLC’s holdings, making the stock its 13th largest position. Northstar Advisory Group LLC’s holdings in Bank of New York Mellon were worth $5,394,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of BK. Investment Management Corp of Ontario raised its position in shares of Bank of New York Mellon by 25.9% during the 2nd quarter. Investment Management Corp of Ontario now owns 125,506 shares of the bank’s stock valued at $11,435,000 after buying an additional 25,842 shares in the last quarter. First National Advisers LLC bought a new stake in Bank of New York Mellon during the third quarter worth about $3,304,000. Permanent Capital Management LP bought a new position in shares of Bank of New York Mellon during the 3rd quarter valued at about $2,262,000. First Horizon Corp purchased a new position in shares of Bank of New York Mellon during the 3rd quarter valued at about $22,072,000. Finally, Robeco Institutional Asset Management B.V. boosted its stake in Bank of New York Mellon by 36.4% in the third quarter. Robeco Institutional Asset Management B.V. now owns 2,166,052 shares of the bank’s stock worth $236,013,000 after buying an additional 577,621 shares in the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on BK shares. Truist Financial raised shares of Bank of New York Mellon from a “hold” rating to a “buy” rating and increased their target price for the company from $119.00 to $134.00 in a report on Wednesday, January 7th. Royal Bank Of Canada increased their price objective on Bank of New York Mellon from $124.00 to $130.00 and gave the company a “sector perform” rating in a research note on Wednesday, January 14th. Barclays lifted their target price on shares of Bank of New York Mellon from $120.00 to $143.00 and gave the stock an “overweight” rating in a research note on Monday, January 5th. Evercore ISI increased their price target on shares of Bank of New York Mellon from $91.00 to $110.00 and gave the company an “in-line” rating in a research report on Tuesday, September 30th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Bank of New York Mellon from $132.00 to $143.00 and gave the company an “outperform” rating in a research report on Wednesday, January 14th. Eight research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $131.92.

Bank of New York Mellon Trading Up 1.2%

NYSE:BK opened at $119.08 on Tuesday. The company has a 50-day moving average price of $116.18 and a 200-day moving average price of $108.88. The stock has a market cap of $83.04 billion, a price-to-earnings ratio of 16.07, a P/E/G ratio of 1.10 and a beta of 1.11. The company has a current ratio of 0.71, a quick ratio of 0.70 and a debt-to-equity ratio of 0.81. The Bank of New York Mellon Corporation has a 12 month low of $70.46 and a 12 month high of $125.89.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings results on Friday, October 31st. The bank reported $1.91 earnings per share (EPS) for the quarter. The company 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 analysts predict that The Bank of New York Mellon Corporation will post 6.96 EPS for the current year.

Bank of New York Mellon Dividend Announcement

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