Sciencast Management LP Has $3.04 Million Stock Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Sciencast Management LP increased its position in The Bank of New York Mellon Co. (NYSE:BK) by 1.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 39,541 shares of the bank’s stock after acquiring an additional 468 shares during the quarter. Sciencast Management LP’s holdings in Bank of New York Mellon were worth $3,038,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Centricity Wealth Management LLC acquired a new position in Bank of New York Mellon in the 4th quarter valued at approximately $39,000. TCTC Holdings LLC grew its stake in shares of Bank of New York Mellon by 257.5% in the fourth quarter. TCTC Holdings LLC now owns 597 shares of the bank’s stock worth $46,000 after purchasing an additional 430 shares during the last quarter. Modus Advisors LLC acquired a new stake in Bank of New York Mellon in the fourth quarter valued at $49,000. Friedenthal Financial bought a new position in Bank of New York Mellon during the 4th quarter worth $56,000. Finally, Asset Dedication LLC lifted its holdings in Bank of New York Mellon by 342.1% during the 4th quarter. Asset Dedication LLC now owns 756 shares of the bank’s stock worth $58,000 after buying an additional 585 shares during the period. Institutional investors own 85.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on BK. Keefe, Bruyette & Woods increased their price target on Bank of New York Mellon from $87.00 to $96.00 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. 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. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Bank of New York Mellon from $94.00 to $98.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Citigroup lifted 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. Finally, Wells Fargo & Company upped their price target on shares of Bank of New York Mellon from $86.00 to $96.00 and gave the company an “equal weight” rating in a research report on Monday, March 3rd. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $89.50.

Bank of New York Mellon Stock Down 0.6 %

BK stock opened at $83.46 on Friday. 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 Bank of New York Mellon Co. has a fifty-two week low of $52.64 and a fifty-two week high of $90.34. The stock’s 50 day simple moving average is $84.88 and its 200 day simple moving average is $78.94. The company has a market cap of $59.92 billion, a P/E ratio of 14.36, a price-to-earnings-growth ratio of 0.97 and a beta of 1.06.

Bank of New York Mellon (NYSE:BK) last issued its earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share for the quarter, topping analysts’ consensus estimates of $1.54 by $0.18. The company had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.66 billion. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. Bank of New York Mellon’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.28 earnings per share. On average, research analysts expect that The Bank of New York Mellon Co. will post 6.96 earnings per share for the current fiscal year.

Bank of New York Mellon Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Monday, January 27th were given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 2.25%. The ex-dividend date was Monday, January 27th. Bank of New York Mellon’s payout ratio is presently 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.