The Bank of New York Mellon Co. (NYSE:BK) Shares Purchased by Bfsg LLC

Bfsg LLC increased its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 185.7% during the 4th quarter, HoldingsChannel.com reports. The fund owned 15,735 shares of the bank’s stock after purchasing an additional 10,228 shares during the period. Bfsg LLC’s holdings in Bank of New York Mellon were worth $1,209,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Studio Investment Management LLC increased its holdings in Bank of New York Mellon by 2.1% during the 3rd quarter. Studio Investment Management LLC now owns 6,636 shares of the bank’s stock worth $477,000 after purchasing an additional 134 shares during the last quarter. Stanley Laman Group Ltd. increased its holdings in Bank of New York Mellon by 2.2% during the 3rd quarter. Stanley Laman Group Ltd. now owns 6,198 shares of the bank’s stock worth $445,000 after purchasing an additional 135 shares during the last quarter. Grove Bank & Trust increased its holdings in Bank of New York Mellon by 21.0% during the 4th quarter. Grove Bank & Trust now owns 779 shares of the bank’s stock worth $60,000 after purchasing an additional 135 shares during the last quarter. Avidian Wealth Enterprises LLC increased its holdings in Bank of New York Mellon by 2.0% during the 3rd quarter. Avidian Wealth Enterprises LLC now owns 7,024 shares of the bank’s stock worth $505,000 after purchasing an additional 137 shares during the last quarter. Finally, Valeo Financial Advisors LLC increased its holdings in Bank of New York Mellon by 1.6% during the 4th quarter. Valeo Financial Advisors LLC now owns 9,041 shares of the bank’s stock worth $695,000 after purchasing an additional 139 shares during the last quarter. 85.31% of the stock is owned by institutional investors and hedge funds.

Bank of New York Mellon Price Performance

Shares of BK opened at $88.94 on Wednesday. The company has a market cap of $64.66 billion, a P/E ratio of 15.31, a PEG ratio of 0.98 and a beta of 1.08. The stock has a fifty day moving average price of $81.54 and a 200 day moving average price of $75.92. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.69 and a quick ratio of 0.70. The Bank of New York Mellon Co. has a 12 month low of $52.64 and a 12 month high of $89.44.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings data on Wednesday, January 15th. The bank reported $1.72 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.18. The firm had revenue of $4.85 billion during 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 was up 11.2% on a year-over-year basis. During the same period in the prior year, the business earned $1.28 EPS. On average, research analysts forecast that The Bank of New York Mellon Co. will post 6.89 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Monday, January 27th were given a dividend of $0.47 per share. The ex-dividend date was Monday, January 27th. This represents a $1.88 dividend on an annualized basis and a yield of 2.11%. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 32.36%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on BK shares. Keefe, Bruyette & Woods lifted their price objective on Bank of New York Mellon from $87.00 to $96.00 and gave the stock an “outperform” rating in a report on Tuesday, December 3rd. 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. Deutsche Bank Aktiengesellschaft lifted their price objective on Bank of New York Mellon from $94.00 to $98.00 and gave the stock 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, 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. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $88.00.

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.