Jones Financial Companies Lllp Raises Holdings in The Bank of New York Mellon Corporation $BK

Jones Financial Companies Lllp lifted its position in The Bank of New York Mellon Corporation (NYSE:BK) by 35.1% during the 3rd quarter, HoldingsChannel reports. The firm owned 31,848 shares of the bank’s stock after acquiring an additional 8,277 shares during the quarter. Jones Financial Companies Lllp’s holdings in Bank of New York Mellon were worth $3,487,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Revolve Wealth Partners LLC bought a new stake in Bank of New York Mellon in the 4th quarter worth approximately $220,000. Sivia Capital Partners LLC grew its holdings in shares of Bank of New York Mellon by 36.6% in the second quarter. Sivia Capital Partners LLC now owns 3,394 shares of the bank’s stock valued at $309,000 after purchasing an additional 909 shares in the last quarter. DAVENPORT & Co LLC increased its position in Bank of New York Mellon by 3.6% in the second quarter. DAVENPORT & Co LLC now owns 10,281 shares of the bank’s stock worth $937,000 after purchasing an additional 353 shares during the last quarter. Venturi Wealth Management LLC purchased a new stake in Bank of New York Mellon during the second quarter valued at $192,000. Finally, Ignite Planners LLC bought a new position in Bank of New York Mellon during the second quarter valued at $240,000. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on BK. Citigroup boosted their target price on shares of 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. Morgan Stanley lifted their price target on Bank of New York Mellon from $124.00 to $132.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 14th. Keefe, Bruyette & Woods boosted their price objective on 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. New Street Research set a $143.00 price objective on Bank of New York Mellon in a research note on Wednesday, January 14th. Finally, Barclays lifted their target price on Bank of New York Mellon from $120.00 to $143.00 and gave the stock an “overweight” rating in a report on Monday, January 5th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $131.92.

Bank of New York Mellon Stock Up 3.2%

Shares of NYSE BK opened at $124.42 on Friday. The Bank of New York Mellon Corporation has a 1 year low of $70.46 and a 1 year high of $125.89. The firm has a 50-day simple moving average of $118.30 and a two-hundred day simple moving average of $110.30. The company has a market cap of $86.76 billion, a P/E ratio of 16.79, a PEG ratio of 1.16 and a beta of 1.10. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.71 and a quick ratio of 0.70.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings results on Friday, October 31st. The bank reported $1.91 earnings per share for the quarter. Bank of New York Mellon had a return on equity of 14.37% and a net margin of 13.62%.The firm had revenue of $5.07 billion for the quarter. Research analysts anticipate that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 5th. Stockholders of record on Friday, January 23rd were given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 1.7%. The ex-dividend date was Friday, January 23rd. Bank of New York Mellon’s dividend payout ratio (DPR) 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.