Vivid Wealth Management LLC Acquires Shares of 29,197 The Bank of New York Mellon Co. (NYSE:BK)

Vivid Wealth Management LLC acquired a new stake in shares of The Bank of New York Mellon Co. (NYSE:BK) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 29,197 shares of the bank’s stock, valued at approximately $2,243,000.

Other institutional investors have also added to or reduced their stakes in the company. McClarren Financial Advisors Inc. increased its holdings in shares of 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 worth $29,000 after buying an additional 346 shares in the last quarter. Fortitude Family Office LLC increased its holdings in shares of 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 worth $44,000 after buying an additional 346 shares in the last quarter. Ashton Thomas Securities LLC acquired a new position in shares of Bank of New York Mellon during the third quarter worth $46,000. Modus Advisors LLC acquired a new position in shares of Bank of New York Mellon during the fourth quarter worth $49,000. Finally, Concord Wealth Partners increased its holdings in shares of 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 buying an additional 453 shares in the last quarter. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently issued reports on BK shares. Deutsche Bank Aktiengesellschaft upped their price target on shares of Bank of New York Mellon from $94.00 to $98.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. UBS Group boosted their price objective 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, January 21st. Keefe, Bruyette & Woods boosted their price objective on shares of Bank of New York Mellon from $87.00 to $96.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 3rd. Evercore ISI boosted their price objective on shares of Bank of New York Mellon from $79.00 to $83.00 and gave the stock an “in-line” rating in a research note on Thursday, January 16th. Finally, Morgan Stanley boosted their price objective on shares of Bank of New York Mellon from $90.00 to $97.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $88.00.

Bank of New York Mellon Stock Up 1.2 %

BK opened at $87.94 on Friday. 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 firm has a 50 day moving average price of $81.08 and a 200-day moving average price of $75.26. The Bank of New York Mellon Co. has a twelve month low of $52.64 and a twelve month high of $88.25. The stock has a market capitalization of $63.94 billion, a price-to-earnings ratio of 15.14, a PEG ratio of 0.98 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 earnings per share for the quarter, topping analysts’ consensus estimates of $1.54 by $0.18. The business had revenue of $4.85 billion during the quarter, compared to analyst estimates 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 company’s revenue was up 11.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.28 earnings per share. Equities research analysts forecast that The Bank of New York Mellon Co. will post 6.89 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Monday, January 27th were paid a dividend of $0.47 per share. The ex-dividend date of this dividend was Monday, January 27th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.14%. Bank of New York Mellon’s dividend 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.