McGlone Suttner Wealth Management Inc. Boosts Stock Position in The Bank of New York Mellon Co. (NYSE:BK)

McGlone Suttner Wealth Management Inc. boosted its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 6.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,084 shares of the bank’s stock after acquiring an additional 414 shares during the quarter. McGlone Suttner Wealth Management Inc.’s holdings in Bank of New York Mellon were worth $544,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. New Century Financial Group LLC purchased a new position in shares of Bank of New York Mellon in the fourth quarter valued at approximately $342,000. Apeiron RIA LLC purchased a new position in Bank of New York Mellon in the 4th quarter valued at approximately $594,000. IVC Wealth Advisors LLC increased its position in shares of Bank of New York Mellon by 2.3% during the fourth quarter. IVC Wealth Advisors LLC now owns 7,475 shares of the bank’s stock worth $574,000 after acquiring an additional 167 shares during the period. Donoghue Forlines LLC purchased a new position in Bank of New York Mellon in the fourth quarter valued at $3,555,000. Finally, Avior Wealth Management LLC grew its stake in Bank of New York Mellon by 33.4% during the 4th quarter. Avior Wealth Management LLC now owns 5,940 shares of the bank’s stock worth $456,000 after purchasing an additional 1,488 shares in the last quarter. 85.31% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BK has been the topic of a number of analyst reports. The Goldman Sachs Group increased their price target on Bank of New York Mellon from $74.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $79.00 price target on shares of Bank of New York Mellon in a research note on Monday, October 14th. Wolfe Research cut shares of Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. Truist Financial raised their price objective on shares of 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. Finally, Citigroup boosted their target price on shares of Bank of New York Mellon from $75.00 to $82.00 and gave the stock a “neutral” rating in a research note on Monday, November 25th. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $88.00.

Bank of New York Mellon Stock Performance

Shares of BK stock opened at $84.75 on Friday. The Bank of New York Mellon Co. has a 1 year low of $52.64 and a 1 year high of $85.81. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.70 and a current ratio of 0.69. The firm has a market cap of $61.62 billion, a price-to-earnings ratio of 14.59, a PEG ratio of 0.97 and a beta of 1.08. The stock’s 50-day moving average is $79.23 and its two-hundred day moving average is $72.82.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.54 by $0.18. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. The firm had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.66 billion. During the same quarter last year, the business posted $1.28 EPS. The firm’s quarterly revenue was up 11.2% compared to the same quarter last year. Analysts predict that The Bank of New York Mellon Co. will post 6.86 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Monday, January 27th will be paid a dividend of $0.47 per share. The ex-dividend date of this dividend is Monday, January 27th. This represents a $1.88 annualized dividend and a dividend yield of 2.22%. Bank of New York Mellon’s dividend payout ratio (DPR) is 32.36%.

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.