Hennion & Walsh Asset Management Inc. purchased a new stake in shares of The Bank of New York Mellon Co. (NYSE:BK – Free Report) in the fourth quarter, according to its most recent 13F filing with the SEC. The fund purchased 12,082 shares of the bank’s stock, valued at approximately $928,000.
Several other institutional investors have also recently made changes to their positions in BK. McClarren Financial Advisors Inc. raised its position in Bank of New York Mellon by 586.4% during the third quarter. McClarren Financial Advisors Inc. now owns 405 shares of the bank’s stock valued at $29,000 after purchasing an additional 346 shares in the last quarter. Fortitude Family Office LLC increased its position in shares of 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 valued at $44,000 after purchasing an additional 346 shares during the last quarter. Grove Bank & Trust lifted its position in Bank of New York Mellon by 28.8% in the 3rd quarter. Grove Bank & Trust now owns 644 shares of the bank’s stock worth $46,000 after buying an additional 144 shares during the last quarter. Ashton Thomas Securities LLC purchased a new stake in Bank of New York Mellon in the third quarter worth approximately $46,000. Finally, Modus Advisors LLC bought a new position in Bank of New York Mellon during the fourth quarter valued at approximately $49,000. Institutional investors own 85.31% of the company’s stock.
Analysts Set New Price Targets
Several equities analysts recently commented on the stock. StockNews.com lowered shares of Bank of New York Mellon from a “buy” rating to a “hold” rating in a report on Thursday. Citigroup lifted their price objective on Bank of New York Mellon from $75.00 to $82.00 and gave the stock a “neutral” rating in a report on Monday, November 25th. Bank of America increased their target price on Bank of New York Mellon from $90.00 to $95.00 and gave the company a “buy” rating in a report on Thursday. Barclays raised their price target on Bank of New York Mellon from $102.00 to $104.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, JPMorgan Chase & Co. boosted their price objective on Bank of New York Mellon from $69.00 to $77.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $87.14.
Get Our Latest Report on BK
Bank of New York Mellon Trading Up 1.3 %
BK opened at $83.31 on Monday. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.89. The Bank of New York Mellon Co. has a 52 week low of $52.64 and a 52 week high of $83.67. The stock has a market cap of $60.57 billion, a PE ratio of 18.11, a PEG ratio of 0.76 and a beta of 1.08. The business has a 50 day moving average of $78.87 and a 200-day moving average of $72.32.
Bank of New York Mellon (NYSE:BK – Get Free Report) last announced its earnings results on Wednesday, January 15th. The bank reported $1.72 EPS for the quarter, beating analysts’ consensus estimates of $1.54 by $0.18. The firm had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.66 billion. Bank of New York Mellon had a net margin of 9.44% and a return on equity of 12.06%. The company’s quarterly revenue was up 11.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.28 EPS. Equities research analysts predict that The Bank of New York Mellon Co. will post 5.87 earnings per share for the current fiscal year.
Bank of New York Mellon Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Monday, January 27th will be paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date of this dividend is Monday, January 27th. Bank of New York Mellon’s dividend payout ratio is 40.87%.
Bank of New York Mellon Profile
(Free Report)
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.
See Also
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