Pallas Capital Advisors LLC Purchases 237 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Pallas Capital Advisors LLC grew its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 4.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,663 shares of the bank’s stock after purchasing an additional 237 shares during the period. Pallas Capital Advisors LLC’s holdings in Bank of New York Mellon were worth $435,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. United Advisor Group LLC purchased a new position in Bank of New York Mellon during the third quarter worth about $595,000. Principal Financial Group Inc. boosted its position in shares of Bank of New York Mellon by 1.7% during the 3rd quarter. Principal Financial Group Inc. now owns 883,853 shares of the bank’s stock valued at $63,514,000 after acquiring an additional 14,916 shares during the last quarter. Chase Investment Counsel Corp grew its holdings in shares of Bank of New York Mellon by 67.2% during the third quarter. Chase Investment Counsel Corp now owns 83,530 shares of the bank’s stock worth $6,002,000 after purchasing an additional 33,558 shares in the last quarter. Ameriprise Financial Inc. increased its position in shares of Bank of New York Mellon by 4.2% in the second quarter. Ameriprise Financial Inc. now owns 10,416,436 shares of the bank’s stock worth $623,891,000 after purchasing an additional 421,161 shares during the last quarter. Finally, Czech National Bank raised its stake in Bank of New York Mellon by 4.9% in the fourth quarter. Czech National Bank now owns 157,645 shares of the bank’s stock valued at $12,112,000 after purchasing an additional 7,316 shares in the last quarter. Institutional investors own 85.31% of the company’s stock.

Analyst Ratings Changes

BK has been the subject of a number of research reports. Barclays boosted their price target on shares of Bank of New York Mellon from $86.00 to $102.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. StockNews.com raised shares of Bank of New York Mellon from a “hold” rating to a “buy” rating in a report on Saturday, December 14th. Truist Financial began coverage on Bank of New York Mellon in a research note on Tuesday, January 7th. They issued a “buy” rating and a $91.00 target price on the stock. Deutsche Bank Aktiengesellschaft lifted their price target on Bank of New York Mellon from $82.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Finally, Wells Fargo & Company upped their price objective on Bank of New York Mellon from $81.00 to $82.00 and gave the stock an “equal weight” rating in a report on Thursday, January 2nd. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $82.64.

Bank of New York Mellon Stock Performance

Shares of BK stock opened at $75.93 on Wednesday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.70 and a current ratio of 0.70. The Bank of New York Mellon Co. has a fifty-two week low of $52.64 and a fifty-two week high of $82.72. The company has a market capitalization of $55.21 billion, a P/E ratio of 16.51, a PEG ratio of 0.91 and a beta of 1.08. The stock has a 50 day moving average price of $78.58 and a two-hundred day moving average price of $71.94.

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.