Tectonic Advisors LLC Buys 464 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Tectonic Advisors LLC boosted its position in The Bank of New York Mellon Co. (NYSE:BK) by 5.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,162 shares of the bank’s stock after acquiring an additional 464 shares during the quarter. Tectonic Advisors LLC’s holdings in Bank of New York Mellon were worth $704,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in BK. McClarren Financial Advisors Inc. grew its holdings in shares of Bank of New York Mellon by 586.4% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 405 shares of the bank’s stock valued at $29,000 after purchasing an additional 346 shares during the last quarter. Fortitude Family Office LLC boosted its position in Bank of New York Mellon by 130.6% during the third quarter. Fortitude Family Office LLC now owns 611 shares of the bank’s stock valued at $44,000 after buying an additional 346 shares during the period. Grove Bank & Trust grew its stake in shares of Bank of New York Mellon by 28.8% during the third quarter. Grove Bank & Trust now owns 644 shares of the bank’s stock valued at $46,000 after buying an additional 144 shares during the last quarter. Ashton Thomas Securities LLC bought a new stake in shares of Bank of New York Mellon in the 3rd quarter valued at about $46,000. Finally, Modus Advisors LLC bought a new stake in shares of Bank of New York Mellon in the 4th quarter valued at about $49,000. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Wall Street Analysts Forecast Growth

BK has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft lifted their price target on Bank of New York Mellon from $94.00 to $98.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. UBS Group upped their price target on shares of 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. Bank of America increased their price target on shares of Bank of New York Mellon from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Citigroup boosted their price objective on shares of Bank of New York Mellon from $75.00 to $82.00 and gave the company a “neutral” rating in a research report on Monday, November 25th. Finally, Wolfe Research cut Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $88.00.

Bank of New York Mellon Stock Up 1.1 %

BK stock opened at $85.79 on Thursday. The business has a 50 day moving average of $80.44 and a 200 day moving average of $74.35. The firm has a market cap of $62.38 billion, a PE ratio of 14.77, a price-to-earnings-growth ratio of 0.98 and a beta of 1.08. The Bank of New York Mellon Co. has a twelve month low of $52.64 and a twelve month high of $87.70. 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 issued its quarterly earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $4.66 billion. During the same period last year, the company earned $1.28 earnings per share. The company’s revenue was up 11.2% on a year-over-year basis. On average, research analysts forecast that The Bank of New York Mellon Co. will post 6.86 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Monday, January 27th will be issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date is Monday, January 27th. Bank of New York Mellon’s payout ratio is 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.