Heritage Trust Co Purchases Shares of 3,406 The Bank of New York Mellon Co. (NYSE:BK)

Heritage Trust Co acquired a new position in shares of The Bank of New York Mellon Co. (NYSE:BK) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 3,406 shares of the bank’s stock, valued at approximately $262,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. FMR LLC raised its stake in Bank of New York Mellon by 19.3% during the fourth quarter. FMR LLC now owns 23,071,584 shares of the bank’s stock valued at $1,772,590,000 after purchasing an additional 3,732,862 shares in the last quarter. Norges Bank purchased a new stake in shares of Bank of New York Mellon during the 4th quarter valued at about $1,150,462,000. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Bank of New York Mellon by 17.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 7,751,219 shares of the bank’s stock valued at $595,526,000 after acquiring an additional 1,125,493 shares during the last quarter. Invesco Ltd. grew its position in Bank of New York Mellon by 2.4% in the fourth quarter. Invesco Ltd. now owns 7,596,210 shares of the bank’s stock worth $583,617,000 after acquiring an additional 175,704 shares in the last quarter. Finally, Amundi raised its position in Bank of New York Mellon by 5.1% during the fourth quarter. Amundi now owns 7,363,015 shares of the bank’s stock valued at $573,947,000 after purchasing an additional 359,942 shares during the period. 85.31% of the stock is currently owned by institutional investors.

Bank of New York Mellon Trading Up 1.5 %

Shares of NYSE BK opened at $77.75 on Friday. The Bank of New York Mellon Co. has a twelve month low of $52.64 and a twelve month high of $90.34. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.83. The business has a fifty day simple moving average of $83.63 and a two-hundred day simple moving average of $80.18. The firm has a market cap of $55.82 billion, a PE ratio of 13.38, a price-to-earnings-growth ratio of 0.97 and a beta of 1.03.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings data on Friday, April 11th. The bank reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.50 by $0.08. The company had revenue of $4.79 billion during the quarter, compared to analyst estimates of $4.76 billion. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The firm’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.29 earnings per share. 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Monday, January 27th were issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 2.42%. The ex-dividend date was Monday, January 27th. Bank of New York Mellon’s payout ratio is 30.62%.

Analysts Set New Price Targets

BK has been the topic of several analyst reports. StockNews.com downgraded Bank of New York Mellon from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Royal Bank of Canada reiterated a “sector perform” rating and set a $90.00 price objective on shares of Bank of New York Mellon in a research report on Monday, March 17th. Bank of America raised their target price on shares of Bank of New York Mellon from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. 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 report on Monday, March 3rd. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of 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. 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 company currently has an average rating of “Moderate Buy” and an average price target of $89.86.

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.