Fisher Funds Management LTD Purchases Shares of 135,202 The Bank of New York Mellon Co. (NYSE:BK)

Fisher Funds Management LTD acquired a new position in shares of The Bank of New York Mellon Co. (NYSE:BK) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 135,202 shares of the bank’s stock, valued at approximately $10,390,000.

A number of other large investors have also recently made changes to their positions in BK. Centricity Wealth Management LLC acquired a new stake in shares of Bank of New York Mellon in the 4th quarter worth about $39,000. Fortitude Family Office LLC increased its holdings in Bank of New York Mellon by 130.6% during the 3rd quarter. Fortitude Family Office LLC now owns 611 shares of the bank’s stock worth $44,000 after purchasing an additional 346 shares in the last quarter. Ashton Thomas Securities LLC purchased a new stake in shares of Bank of New York Mellon in the third quarter worth approximately $46,000. Modus Advisors LLC bought a new position in shares of Bank of New York Mellon in the fourth quarter valued at approximately $49,000. Finally, Concord Wealth Partners boosted its position in shares of Bank of New York Mellon by 150.5% during the third quarter. Concord Wealth Partners now owns 754 shares of the bank’s stock valued at $54,000 after buying an additional 453 shares during the last quarter. 85.31% of the stock is owned by institutional investors.

Bank of New York Mellon Trading Up 0.1 %

NYSE:BK opened at $87.29 on Friday. The Bank of New York Mellon Co. has a 1 year low of $52.64 and a 1 year high of $89.44. The stock’s fifty day moving average price is $82.04 and its two-hundred day moving average price is $76.36. 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 company has a market cap of $63.46 billion, a P/E ratio of 15.02, a P/E/G ratio of 0.98 and a beta of 1.08.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings data 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. The business had revenue of $4.85 billion for the quarter, compared to analysts’ expectations 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 quarterly revenue was up 11.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.28 EPS. As a group, analysts expect that The Bank of New York Mellon Co. will post 6.94 EPS for the current year.

Bank of New York Mellon Announces Dividend

The company 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. The ex-dividend date of this dividend was Monday, January 27th. This represents a $1.88 annualized dividend and a yield of 2.15%. Bank of New York Mellon’s dividend payout ratio is currently 32.36%.

Wall Street Analyst Weigh In

BK has been the topic of several recent analyst reports. Wells Fargo & Company raised their price objective on Bank of New York Mellon from $82.00 to $86.00 and gave the company an “equal weight” rating in a research note 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 company an “overweight” rating in a research report on Thursday, January 16th. StockNews.com downgraded shares of Bank of New York Mellon from a “buy” rating to a “hold” rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Bank of New York Mellon from $94.00 to $98.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Finally, Citigroup upped their target price on 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. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average 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.