Transcend Capital Advisors LLC Makes New $282,000 Investment in The Bank of New York Mellon Co. (NYSE:BK)

Transcend Capital Advisors LLC bought a new position in The Bank of New York Mellon Co. (NYSE:BK) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 3,674 shares of the bank’s stock, valued at approximately $282,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Blue Trust Inc. grew its holdings in shares of Bank of New York Mellon by 95.4% in the third quarter. Blue Trust Inc. now owns 1,673 shares of the bank’s stock worth $120,000 after acquiring an additional 817 shares during the period. Private Advisor Group LLC grew its holdings in shares of Bank of New York Mellon by 4.0% in the third quarter. Private Advisor Group LLC now owns 53,646 shares of the bank’s stock worth $3,855,000 after acquiring an additional 2,062 shares during the period. Lake Street Advisors Group LLC grew its holdings in shares of Bank of New York Mellon by 11.3% in the third quarter. Lake Street Advisors Group LLC now owns 5,228 shares of the bank’s stock worth $376,000 after acquiring an additional 530 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Bank of New York Mellon by 10.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 121,652 shares of the bank’s stock worth $8,722,000 after acquiring an additional 11,325 shares during the period. Finally, Forsta AP Fonden grew its holdings in shares of Bank of New York Mellon by 5.2% in the third quarter. Forsta AP Fonden now owns 232,200 shares of the bank’s stock worth $16,686,000 after acquiring an additional 11,500 shares during the period. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Price Performance

Shares of Bank of New York Mellon stock opened at $87.29 on Monday. The stock’s 50-day simple moving average is $82.04 and its 200-day simple moving average is $76.46. The Bank of New York Mellon Co. has a 52 week low of $52.64 and a 52 week high of $89.44. The company has a market capitalization of $63.46 billion, a price-to-earnings ratio of 15.02, a PEG 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.

Bank of New York Mellon (NYSE:BK) last posted its earnings results on Wednesday, January 15th. The bank reported $1.72 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.18. The company had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.66 billion. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. The firm’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.28 earnings per share. As a group, analysts expect that The Bank of New York Mellon Co. will post 6.94 earnings per share for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Monday, January 27th were given a $0.47 dividend. The ex-dividend date was Monday, January 27th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.15%. Bank of New York Mellon’s dividend payout ratio is currently 32.36%.

Wall Street Analyst Weigh In

Several brokerages recently commented on BK. Evercore ISI lifted their price objective on Bank of New York Mellon from $79.00 to $83.00 and gave the stock an “in-line” rating in a report on Thursday, January 16th. Morgan Stanley boosted their price target on Bank of New York Mellon from $90.00 to $97.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Deutsche Bank Aktiengesellschaft boosted 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. UBS Group boosted their price target on Bank of New York Mellon from $88.00 to $94.00 and gave the company a “buy” rating in a report on Tuesday, January 21st. Finally, Truist Financial boosted their price target on Bank of New York Mellon from $91.00 to $93.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $88.00.

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.