Elevation Point Wealth Partners LLC Buys 6,462 Shares of The Bank of New York Mellon Corporation $BK

Elevation Point Wealth Partners LLC raised its stake in The Bank of New York Mellon Corporation (NYSE:BK) by 356.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,276 shares of the bank’s stock after buying an additional 6,462 shares during the period. Elevation Point Wealth Partners LLC’s holdings in Bank of New York Mellon were worth $902,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in BK. Brevan Howard Capital Management LP raised its stake in shares of Bank of New York Mellon by 73.8% during the third quarter. Brevan Howard Capital Management LP now owns 70,439 shares of the bank’s stock valued at $7,675,000 after acquiring an additional 29,902 shares in the last quarter. Capitolis Liquid Global Markets LLC grew its stake in Bank of New York Mellon by 957.7% in the third quarter. Capitolis Liquid Global Markets LLC now owns 150,200 shares of the bank’s stock worth $16,366,000 after purchasing an additional 136,000 shares in the last quarter. Community Bank N.A. increased its holdings in Bank of New York Mellon by 250.4% during the 3rd quarter. Community Bank N.A. now owns 438 shares of the bank’s stock worth $48,000 after purchasing an additional 313 shares during the period. Banco Bilbao Vizcaya Argentaria S.A. increased its holdings in Bank of New York Mellon by 1.2% during the 3rd quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 208,707 shares of the bank’s stock worth $22,741,000 after purchasing an additional 2,573 shares during the period. Finally, Bank of Nova Scotia raised its position in Bank of New York Mellon by 8.6% during the 3rd quarter. Bank of Nova Scotia now owns 707,403 shares of the bank’s stock valued at $77,079,000 after purchasing an additional 56,268 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 have weighed in on the company. TD Cowen upped their target price on Bank of New York Mellon from $133.00 to $145.00 and gave the stock a “buy” rating in a report on Wednesday, January 7th. Keefe, Bruyette & Woods raised their price target on Bank of New York Mellon from $132.00 to $143.00 and gave the company an “outperform” rating in a research note on Wednesday, January 14th. Morgan Stanley upped their price objective on shares of Bank of New York Mellon from $124.00 to $132.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 14th. Citigroup assumed coverage on shares of Bank of New York Mellon in a report on Monday, February 23rd. They set a “neutral” rating on the stock. 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 investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $131.92.

Bank of New York Mellon Stock Down 0.7%

Shares of NYSE BK opened at $115.34 on Tuesday. The Bank of New York Mellon Corporation has a 12-month low of $70.46 and a 12-month high of $128.76. The stock’s fifty day simple moving average is $119.53 and its two-hundred day simple moving average is $113.34. The stock has a market capitalization of $79.38 billion, a PE ratio of 15.57, a price-to-earnings-growth ratio of 1.08 and a beta of 1.10. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.81.

Bank of New York Mellon (NYSE:BK) last released its quarterly 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 return on equity of 14.37% and a net margin of 13.62%. As a group, analysts expect 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 announced a quarterly dividend, which was paid on Thursday, February 5th. Shareholders of record on Friday, January 23rd were issued a $0.53 dividend. The ex-dividend date 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 payout ratio is currently 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.