Verdence Capital Advisors LLC Boosts Stake in The Bank of New York Mellon Co. (NYSE:BK)

Verdence Capital Advisors LLC grew its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 14.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 23,317 shares of the bank’s stock after buying an additional 3,032 shares during the quarter. Verdence Capital Advisors LLC’s holdings in Bank of New York Mellon were worth $1,791,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. FMR LLC grew its holdings in shares of Bank of New York Mellon by 78.6% during the 3rd quarter. FMR LLC now owns 19,338,722 shares of the bank’s stock valued at $1,389,680,000 after purchasing an additional 8,512,404 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Bank of New York Mellon by 2,707.1% during the 3rd quarter. Wellington Management Group LLP now owns 3,258,967 shares of the bank’s stock valued at $234,189,000 after purchasing an additional 3,142,869 shares during the last quarter. Zacks Investment Management bought a new position in shares of Bank of New York Mellon during the 3rd quarter valued at $62,589,000. State Street Corp grew its holdings in shares of Bank of New York Mellon by 2.0% during the 3rd quarter. State Street Corp now owns 33,313,594 shares of the bank’s stock valued at $2,393,915,000 after purchasing an additional 659,096 shares during the last quarter. Finally, National Bank of Canada FI grew its holdings in shares of Bank of New York Mellon by 248.3% during the 3rd quarter. National Bank of Canada FI now owns 858,831 shares of the bank’s stock valued at $61,715,000 after purchasing an additional 612,287 shares during the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Trading Up 1.2 %

NYSE:BK opened at $86.61 on Thursday. The company has a 50-day moving average price of $83.56 and a 200-day moving average price of $77.67. The Bank of New York Mellon Co. has a 12 month low of $52.64 and a 12 month high of $90.34. The company has a current ratio of 0.69, a quick ratio of 0.70 and a debt-to-equity ratio of 0.83. The stock has a market cap of $62.04 billion, a price-to-earnings ratio of 14.91, a P/E/G ratio of 0.97 and a beta of 1.06.

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 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 firm had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.66 billion. During the same period last year, the company posted $1.28 EPS. The company’s quarterly revenue was up 11.2% compared to the same quarter last year. Equities analysts predict that The Bank of New York Mellon Co. will post 6.96 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Monday, January 27th were paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 2.17%. The ex-dividend date was Monday, January 27th. Bank of New York Mellon’s payout ratio is currently 32.36%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Citigroup increased their target price on shares of Bank of New York Mellon from $75.00 to $82.00 and gave the company a “neutral” rating in a report on Monday, November 25th. Wolfe Research lowered shares of Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. Evercore ISI raised their price target on shares of 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 raised their price target on shares of Bank of New York Mellon from $90.00 to $97.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Finally, Bank of America raised their price target on shares of Bank of New York Mellon from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $88.71.

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.