Bill Few Associates Inc. Grows Position in The Bank of New York Mellon Co. (NYSE:BK)

Bill Few Associates Inc. increased its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 75.4% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 5,917 shares of the bank’s stock after buying an additional 2,543 shares during the quarter. Bill Few Associates Inc.’s holdings in Bank of New York Mellon were worth $455,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. McClarren Financial Advisors Inc. boosted its holdings in Bank of New York Mellon by 586.4% in the third quarter. McClarren Financial Advisors Inc. now owns 405 shares of the bank’s stock worth $29,000 after purchasing an additional 346 shares during the last quarter. Fortitude Family Office LLC increased its holdings in Bank of New York Mellon by 130.6% during the third quarter. Fortitude Family Office LLC now owns 611 shares of the bank’s stock valued at $44,000 after buying an additional 346 shares during the last quarter. Modus Advisors LLC bought a new stake in shares of Bank of New York Mellon during the 4th quarter valued at $49,000. Ashton Thomas Securities LLC bought a new position in Bank of New York Mellon in the 3rd quarter worth $46,000. Finally, Grove Bank & Trust lifted its position in Bank of New York Mellon by 28.8% during the third quarter. Grove Bank & Trust now owns 644 shares of the bank’s stock valued at $46,000 after purchasing an additional 144 shares in the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Wall Street Analyst Weigh In

BK has been the topic of a number of analyst reports. The Goldman Sachs Group lifted their price objective on Bank of New York Mellon from $74.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Deutsche Bank Aktiengesellschaft upped their price objective on 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. UBS Group boosted their price target on shares of Bank of New York Mellon from $88.00 to $94.00 and gave the stock a “buy” rating in a research note on Tuesday. Citigroup increased their target price on Bank of New York Mellon from $75.00 to $82.00 and gave the company a “neutral” rating in a research report on Monday, November 25th. Finally, Barclays boosted their price target on shares of Bank of New York Mellon from $102.00 to $104.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $88.00.

Bank of New York Mellon Stock Down 0.7 %

Shares of NYSE BK opened at $84.33 on Thursday. 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 firm has a 50-day simple moving average of $79.23 and a two-hundred day simple moving average of $72.82. The Bank of New York Mellon Co. has a 1 year low of $52.64 and a 1 year high of $85.81. The company has a market cap of $61.31 billion, a P/E ratio of 14.51, a PEG ratio of 0.97 and a beta of 1.08.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings results on Wednesday, January 15th. The bank reported $1.72 EPS for the quarter, topping the consensus estimate of $1.54 by $0.18. The company had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.66 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 was up 11.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.28 EPS. Research analysts anticipate that The Bank of New York Mellon Co. will post 6.86 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Monday, January 27th will be paid a $0.47 dividend. The ex-dividend date of this dividend is Monday, January 27th. This represents a $1.88 annualized dividend and a yield of 2.23%. Bank of New York Mellon’s dividend payout ratio (DPR) is currently 32.36%.

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.