Wealth Quarterback LLC Increases Stock Position in The Bank of New York Mellon Co. (NYSE:BK)

Wealth Quarterback LLC boosted its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 3.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,598 shares of the bank’s stock after purchasing an additional 357 shares during the quarter. Wealth Quarterback LLC’s holdings in Bank of New York Mellon were worth $891,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Bleakley Financial Group LLC grew its holdings in Bank of New York Mellon by 6.4% during the third quarter. Bleakley Financial Group LLC now owns 10,664 shares of the bank’s stock worth $766,000 after acquiring an additional 646 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in Bank of New York Mellon by 1.0% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 75,763 shares of the bank’s stock valued at $5,444,000 after buying an additional 769 shares in the last quarter. Net Worth Advisory Group purchased a new position in Bank of New York Mellon in the 3rd quarter valued at approximately $372,000. Blue Trust Inc. raised its stake in shares of Bank of New York Mellon by 95.4% during the 3rd quarter. Blue Trust Inc. now owns 1,673 shares of the bank’s stock worth $120,000 after buying an additional 817 shares during the last quarter. Finally, Resonant Capital Advisors LLC lifted its holdings in shares of Bank of New York Mellon by 6.1% in the third quarter. Resonant Capital Advisors LLC now owns 4,484 shares of the bank’s stock valued at $322,000 after purchasing an additional 256 shares in the last quarter. 85.31% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Morgan Stanley upped their target price on Bank of New York Mellon from $90.00 to $97.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Bank of America lifted their target price on shares of Bank of New York Mellon from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Wells Fargo & Company lifted their price objective on Bank of New York Mellon from $82.00 to $86.00 and gave the company an “equal weight” rating in a research report on Thursday, January 16th. Deutsche Bank Aktiengesellschaft lifted their price target on Bank of New York Mellon from $94.00 to $98.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Finally, Barclays lifted their price target on shares of Bank of New York Mellon from $102.00 to $104.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $88.00.

Bank of New York Mellon Price Performance

Shares of NYSE BK opened at $87.94 on Monday. The firm has a market cap of $63.94 billion, a PE ratio of 15.14, a price-to-earnings-growth ratio of 0.98 and a beta of 1.08. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.83. The business has a 50 day moving average price of $81.23 and a two-hundred day moving average price of $75.57. The Bank of New York Mellon Co. has a fifty-two week low of $52.64 and a fifty-two week high of $88.25.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings results on Wednesday, January 15th. The bank reported $1.72 EPS for the quarter, topping the consensus estimate of $1.54 by $0.18. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The business had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.66 billion. During the same quarter last year, the company posted $1.28 earnings per share. The company’s quarterly revenue was up 11.2% compared to the same quarter last year. Sell-side analysts expect that The Bank of New York Mellon Co. will post 6.89 earnings per share for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Monday, January 27th were given a $0.47 dividend. The ex-dividend date of this dividend was Monday, January 27th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.14%. Bank of New York Mellon’s payout ratio is currently 32.36%.

About Bank of New York Mellon

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.