AlTi Global Inc. Invests $251,000 in The Bank of New York Mellon Corporation $BK

AlTi Global Inc. bought a new position in shares of The Bank of New York Mellon Corporation (NYSE:BK) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 2,746 shares of the bank’s stock, valued at approximately $251,000.

Several other institutional investors and hedge funds have also modified their holdings of BK. Revolve Wealth Partners LLC acquired a new position in shares of Bank of New York Mellon in the 4th quarter valued at approximately $220,000. GAMMA Investing LLC grew its position in shares of Bank of New York Mellon by 14.9% in the 1st quarter. GAMMA Investing LLC now owns 16,692 shares of the bank’s stock valued at $1,400,000 after purchasing an additional 2,168 shares during the period. Oppenheimer Asset Management Inc. grew its position in shares of Bank of New York Mellon by 3.6% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 6,131 shares of the bank’s stock valued at $514,000 after purchasing an additional 213 shares during the period. Golden State Wealth Management LLC grew its position in shares of Bank of New York Mellon by 226.4% in the 1st quarter. Golden State Wealth Management LLC now owns 408 shares of the bank’s stock valued at $34,000 after purchasing an additional 283 shares during the period. Finally, Perigon Wealth Management LLC grew its position in shares of Bank of New York Mellon by 5.8% in the 1st quarter. Perigon Wealth Management LLC now owns 6,741 shares of the bank’s stock valued at $565,000 after purchasing an additional 372 shares during the period. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently issued reports on BK shares. Truist Financial boosted their price objective on Bank of New York Mellon from $118.00 to $119.00 and gave the company a “hold” rating in a research report on Friday, October 17th. Keefe, Bruyette & Woods boosted their price objective on Bank of New York Mellon from $120.00 to $124.00 and gave the company an “outperform” rating in a research report on Friday, October 17th. The Goldman Sachs Group upped their price target on Bank of New York Mellon from $106.00 to $120.00 and gave the stock a “buy” rating in a research report on Monday, October 6th. Wells Fargo & Company upped their price target on Bank of New York Mellon from $100.00 to $109.00 and gave the stock an “equal weight” rating in a research report on Friday, October 17th. Finally, Barclays upped their price target on Bank of New York Mellon from $104.00 to $120.00 and gave the stock an “overweight” rating in a research report on Friday, October 17th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $111.29.

Bank of New York Mellon Trading Up 1.2%

Shares of Bank of New York Mellon stock opened at $107.91 on Friday. The Bank of New York Mellon Corporation has a 12-month low of $70.46 and a 12-month high of $110.87. The stock has a market cap of $76.10 billion, a P/E ratio of 15.57, a P/E/G ratio of 0.99 and a beta of 1.13. The company has a quick ratio of 0.72, a current ratio of 0.70 and a debt-to-equity ratio of 0.83. The business’s 50 day moving average is $106.07 and its 200-day moving average is $95.68.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings data on Tuesday, March 26th. The bank reported $1.30 earnings per share (EPS) for the quarter. Bank of New York Mellon had a return on equity of 14.03% and a net margin of 12.86%.The company had revenue of $4.38 billion for the quarter. Equities research analysts predict that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 7th. Stockholders of record on Monday, October 27th will be paid a dividend of $0.53 per share. The ex-dividend date is Monday, October 27th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.0%. Bank of New York Mellon’s dividend payout ratio is currently 30.59%.

Bank of New York Mellon Profile

The Bank of New York Mellon Corporation provides a range of financial products and services in the United States and internationally. The company operates through Securities Services, Market and Wealth Services, Investment and Wealth Management, and other segments. The Securities Services segment offers custody, trust and depositary, accounting, exchange-traded funds, middle-office solutions, transfer agency, services for private equity and real estate funds, foreign exchange, securities lending, liquidity/lending services, and data analytics.