Stratos Wealth Partners LTD. Has $2.56 Million Stock Holdings in The Bank of New York Mellon Corporation $BK

Stratos Wealth Partners LTD. increased its position in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 56.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,479 shares of the bank’s stock after acquiring an additional 8,432 shares during the period. Stratos Wealth Partners LTD.’s holdings in Bank of New York Mellon were worth $2,558,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Westside Investment Management Inc. increased its holdings in 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 during the last quarter. Valley Wealth Managers Inc. bought a new stake in Bank of New York Mellon in the third quarter worth approximately $33,000. Caldwell Trust Co acquired a new position in shares of Bank of New York Mellon during the 2nd quarter worth $36,000. Princeton Global Asset Management LLC raised its holdings in shares of Bank of New York Mellon by 89.0% during the 2nd quarter. Princeton Global Asset Management LLC now owns 446 shares of the bank’s stock valued at $41,000 after purchasing an additional 210 shares in the last quarter. Finally, Quaker Wealth Management LLC boosted its holdings in Bank of New York Mellon by 198.9% in the second quarter. Quaker Wealth Management LLC now owns 450 shares of the bank’s stock worth $41,000 after purchasing an additional 905 shares in the last quarter. 85.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on BK shares. Royal Bank Of Canada raised their target price on 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. Weiss Ratings raised Bank of New York Mellon from a “buy (b+)” rating to a “buy (a-)” rating in a report on Tuesday, January 27th. Citigroup boosted their target price on 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. TD Cowen increased their price target on Bank of New York Mellon from $133.00 to $145.00 and gave the company a “buy” rating in a report on Wednesday, January 7th. 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 stock an “outperform” rating in a research note on Wednesday, January 14th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $131.92.

Bank of New York Mellon Trading Up 2.4%

Shares of Bank of New York Mellon stock opened at $117.67 on Friday. The Bank of New York Mellon Corporation has a 1 year low of $70.46 and a 1 year high of $128.76. The company’s fifty day simple moving average is $119.16 and its 200-day simple moving average is $110.98. The company has a market cap of $82.05 billion, a price-to-earnings ratio of 15.88, a PEG ratio of 1.07 and a beta of 1.10. The company has a current ratio of 0.71, a quick ratio of 0.70 and a debt-to-equity ratio of 0.81.

Bank of New York Mellon (NYSE:BK) last released its earnings results on Friday, October 31st. The bank reported $1.91 EPS for the quarter. The firm 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%. As a group, sell-side analysts expect 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 announced a quarterly dividend, which was paid on Thursday, February 5th. Investors of record on Friday, January 23rd were given a dividend of $0.53 per share. The ex-dividend date of this dividend was 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 (DPR) is 28.61%.

Bank of New York Mellon 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.