Manchester Capital Management LLC Increases Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Manchester Capital Management LLC increased its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK) by 34.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,476 shares of the bank’s stock after purchasing an additional 2,703 shares during the period. Manchester Capital Management LLC’s holdings in Bank of New York Mellon were worth $805,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. McClarren Financial Advisors Inc. boosted its position in Bank of New York Mellon by 586.4% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 405 shares of the bank’s stock valued at $29,000 after buying an additional 346 shares during the last quarter. Fortitude Family Office LLC raised its stake in shares of Bank of New York Mellon by 130.6% in 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 in the last quarter. Ashton Thomas Securities LLC acquired a new stake in shares of Bank of New York Mellon in the 3rd quarter valued at about $46,000. Modus Advisors LLC acquired a new stake in shares of Bank of New York Mellon in the 4th quarter valued at about $49,000. Finally, Concord Wealth Partners raised its stake in Bank of New York Mellon by 150.5% during the third quarter. Concord Wealth Partners now owns 754 shares of the bank’s stock worth $54,000 after acquiring an additional 453 shares during the period. 85.31% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BK has been the topic of several analyst reports. Wolfe Research lowered shares of Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. Barclays raised their price target on shares of Bank of New York Mellon from $102.00 to $104.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Morgan Stanley increased their price objective on shares of Bank of New York Mellon from $90.00 to $97.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Evercore ISI increased their price objective on shares of Bank of New York Mellon from $79.00 to $83.00 and gave the company an “in-line” rating in a report on Thursday, January 16th. Finally, StockNews.com cut shares of Bank of New York Mellon from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $88.00.

Bank of New York Mellon Trading Up 1.2 %

Shares of BK stock opened at $87.94 on Friday. The Bank of New York Mellon Co. has a 12 month low of $52.64 and a 12 month high of $88.25. 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’s 50 day moving average is $81.08 and its two-hundred day moving average is $75.26. The company has a market cap of $63.94 billion, a PE ratio of 15.14, a price-to-earnings-growth ratio of 0.98 and a beta of 1.08.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings results on Wednesday, January 15th. The bank reported $1.72 EPS for the quarter, beating the consensus estimate of $1.54 by $0.18. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. The company had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.66 billion. During the same quarter last year, the company posted $1.28 earnings per share. The company’s revenue for the quarter was up 11.2% compared to the same quarter last year. Equities analysts predict that The Bank of New York Mellon Co. will post 6.89 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Monday, January 27th were issued a dividend of $0.47 per share. The ex-dividend date was Monday, January 27th. This represents a $1.88 annualized dividend and a yield of 2.14%. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 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.