FSB Premier Wealth Management Inc. Boosts Position in The Bank of New York Mellon Co. (NYSE:BK)

FSB Premier Wealth Management Inc. lifted its position in The Bank of New York Mellon Co. (NYSE:BK) by 15.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,577 shares of the bank’s stock after purchasing an additional 1,729 shares during the quarter. FSB Premier Wealth Management Inc.’s holdings in Bank of New York Mellon were worth $966,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. O Shaughnessy Asset Management LLC lifted its position in Bank of New York Mellon by 11.7% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 786,496 shares of the bank’s stock valued at $60,426,000 after buying an additional 82,671 shares during the last quarter. CIBC Private Wealth Group LLC grew its stake in shares of Bank of New York Mellon by 0.5% in the fourth quarter. CIBC Private Wealth Group LLC now owns 146,627 shares of the bank’s stock valued at $11,430,000 after buying an additional 776 shares in the last quarter. Dorsey Wright & Associates purchased a new stake in shares of Bank of New York Mellon in the 4th quarter valued at $6,512,000. RWA Wealth Partners LLC lifted its stake in Bank of New York Mellon by 5.6% during the 4th quarter. RWA Wealth Partners LLC now owns 13,003 shares of the bank’s stock worth $999,000 after acquiring an additional 685 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its stake in Bank of New York Mellon by 17.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 7,751,219 shares of the bank’s stock worth $595,526,000 after acquiring an additional 1,125,493 shares in the last quarter. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on BK shares. Barclays increased 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. UBS Group raised their price target on shares of Bank of New York Mellon from $88.00 to $94.00 and gave the company a “buy” rating in a research report on Tuesday, January 21st. StockNews.com downgraded shares of Bank of New York Mellon from a “buy” rating to a “hold” rating in a research note on Wednesday, February 19th. Evercore ISI increased their price objective on Bank of New York Mellon from $79.00 to $83.00 and gave the company an “in-line” rating in a research note on Thursday, January 16th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $90.00 price target on shares of Bank of New York Mellon in a report on Monday, March 17th. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $89.71.

Bank of New York Mellon Stock Down 2.1 %

BK stock opened at $82.67 on Monday. The stock has a market cap of $59.35 billion, a P/E ratio of 14.23, a PEG ratio of 0.97 and a beta of 1.06. The company has a current ratio of 0.69, a quick ratio of 0.70 and a debt-to-equity ratio of 0.83. 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’s 50 day moving average is $85.34 and its two-hundred day moving average is $79.69.

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, topping the consensus estimate of $1.54 by $0.18. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The firm had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.66 billion. During the same period last year, the business earned $1.28 EPS. Bank of New York Mellon’s revenue for the quarter was up 11.2% compared to the same quarter last year. Research 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 company also recently announced a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Monday, January 27th were given a $0.47 dividend. 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 2.27%. Bank of New York Mellon’s dividend payout ratio (DPR) 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.