Leavell Investment Management Inc. Purchases 4,000 Shares of The Bank of New York Mellon Corporation $BK

Leavell Investment Management Inc. lifted its position in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 156.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,560 shares of the bank’s stock after acquiring an additional 4,000 shares during the period. Leavell Investment Management Inc.’s holdings in Bank of New York Mellon were worth $598,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the company. Focus Partners Advisor Solutions LLC lifted its stake in Bank of New York Mellon by 29.4% during the second quarter. Focus Partners Advisor Solutions LLC now owns 9,911 shares of the bank’s stock worth $902,000 after purchasing an additional 2,252 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of Bank of New York Mellon in the 2nd quarter valued at $114,000. AlTi Global Inc. acquired a new position in shares of Bank of New York Mellon during the 2nd quarter worth $251,000. First Citizens Bank & Trust Co. lifted its position in shares of Bank of New York Mellon by 149.1% during the 2nd quarter. First Citizens Bank & Trust Co. now owns 29,457 shares of the bank’s stock worth $2,684,000 after buying an additional 17,632 shares during the last quarter. Finally, Bleakley Financial Group LLC boosted its stake in Bank of New York Mellon by 21.8% in the second quarter. Bleakley Financial Group LLC now owns 15,096 shares of the bank’s stock valued at $1,375,000 after buying an additional 2,704 shares in the last quarter. 85.31% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have commented on BK. Truist Financial boosted their target price on Bank of New York Mellon from $118.00 to $119.00 and gave the stock a “hold” rating in a research note on Friday, October 17th. The Goldman Sachs Group upped their price objective on shares of 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. TD Cowen raised their target price on shares of Bank of New York Mellon from $130.00 to $133.00 and gave the company a “buy” rating in a research report on Monday, October 20th. Evercore ISI boosted their target price on shares of Bank of New York Mellon from $91.00 to $110.00 and gave the stock an “in-line” rating in a research note on Tuesday, September 30th. Finally, Keefe, Bruyette & Woods raised their price objective on Bank of New York Mellon from $120.00 to $124.00 and gave the company an “outperform” rating in a report on Friday, October 17th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, Bank of New York Mellon has an average rating of “Moderate Buy” and an average price target of $111.29.

Bank of New York Mellon Price Performance

Shares of NYSE:BK opened at $107.91 on Monday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.72 and a current ratio of 0.70. The Bank of New York Mellon Corporation has a 52 week low of $70.46 and a 52 week high of $110.87. The firm has a market cap of $76.10 billion, a PE ratio of 15.57, a price-to-earnings-growth ratio of 0.99 and a beta of 1.13. The firm’s fifty day moving average is $106.07 and its 200-day moving average is $95.79.

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

Bank of New York Mellon Announces Dividend

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

Bank of New York Mellon Company 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.