Prospera Financial Services Inc Has $602,000 Position in The Bank of New York Mellon Corporation $BK

Prospera Financial Services Inc grew its holdings in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 12.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,603 shares of the bank’s stock after buying an additional 736 shares during the quarter. Prospera Financial Services Inc’s holdings in Bank of New York Mellon were worth $602,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. RWA Wealth Partners LLC raised its holdings in Bank of New York Mellon by 2.9% during the second quarter. RWA Wealth Partners LLC now owns 12,812 shares of the bank’s stock worth $1,167,000 after acquiring an additional 365 shares in the last quarter. AE Wealth Management LLC boosted its holdings in shares of Bank of New York Mellon by 11.9% in the 2nd quarter. AE Wealth Management LLC now owns 19,414 shares of the bank’s stock valued at $1,769,000 after buying an additional 2,066 shares during the last quarter. Fox Run Management L.L.C. acquired a new stake in shares of Bank of New York Mellon in the 2nd quarter valued at approximately $1,975,000. Marco Investment Management LLC grew its stake in shares of Bank of New York Mellon by 4.2% in the second quarter. Marco Investment Management LLC now owns 3,127 shares of the bank’s stock valued at $285,000 after buying an additional 127 shares in the last quarter. Finally, Vestmark Advisory Solutions Inc. increased its holdings in Bank of New York Mellon by 4.0% during the second quarter. Vestmark Advisory Solutions Inc. now owns 2,771 shares of the bank’s stock worth $252,000 after buying an additional 107 shares during the last quarter. Institutional investors own 85.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Evercore ISI upped their target price on shares of Bank of New York Mellon from $91.00 to $110.00 and gave the company an “in-line” rating in a report on Tuesday, September 30th. Weiss Ratings restated a “buy (b)” rating on shares of Bank of New York Mellon in a research note on Thursday. Citigroup lifted their target price on Bank of New York Mellon from $92.00 to $105.00 and gave the stock a “neutral” rating in a research note on Friday, September 5th. TD Cowen increased their price target on Bank of New York Mellon from $130.00 to $133.00 and gave the company a “buy” rating in a research note on Monday, October 20th. Finally, Wells Fargo & Company lifted their price objective on shares of 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. Ten analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $111.29.

Bank of New York Mellon Price Performance

NYSE:BK opened at $110.60 on Friday. The Bank of New York Mellon Corporation has a 52 week low of $70.46 and a 52 week high of $113.74. 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 firm’s 50-day simple moving average is $107.70 and its 200 day simple moving average is $98.99. The firm has a market cap of $77.13 billion, a price-to-earnings ratio of 15.96, a P/E/G ratio of 0.98 and a beta of 1.13.

Bank of New York Mellon (NYSE:BK) last announced its earnings results on Tuesday, March 26th. The bank reported $1.30 earnings per share (EPS) for the quarter. Bank of New York Mellon had a net margin of 12.86% and a return on equity of 14.03%. The firm had revenue of $4.38 billion for the quarter. As a group, 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 Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 7th. Investors of record on Monday, October 27th were paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend was Monday, October 27th. Bank of New York Mellon’s payout ratio is 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.