NewEdge Advisors LLC Raises Position in The Bank of New York Mellon Co. (NYSE:BK)

NewEdge Advisors LLC raised its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK) by 1,556.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 433,202 shares of the bank’s stock after buying an additional 407,054 shares during the quarter. NewEdge Advisors LLC owned about 0.06% of Bank of New York Mellon worth $33,283,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the business. Main Street Financial Solutions LLC purchased a new stake in shares of Bank of New York Mellon during the 4th quarter valued at $233,000. United Capital Financial Advisors LLC increased its stake in Bank of New York Mellon by 0.5% in the fourth quarter. United Capital Financial Advisors LLC now owns 31,336 shares of the bank’s stock valued at $2,408,000 after acquiring an additional 165 shares during the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. raised its position in Bank of New York Mellon by 163.6% during the fourth quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 14,500 shares of the bank’s stock valued at $1,114,000 after purchasing an additional 9,000 shares in the last quarter. Jump Financial LLC lifted its stake in Bank of New York Mellon by 1,339.4% during the fourth quarter. Jump Financial LLC now owns 86,482 shares of the bank’s stock worth $6,644,000 after purchasing an additional 80,474 shares during the last quarter. Finally, Bridgewater Associates LP boosted its holdings in shares of Bank of New York Mellon by 90.1% in the 4th quarter. Bridgewater Associates LP now owns 990,319 shares of the bank’s stock worth $76,086,000 after purchasing an additional 469,398 shares in the last quarter. 85.31% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on BK. Royal Bank of Canada reissued a “sector perform” rating and set a $90.00 price objective on shares of Bank of New York Mellon in a report on Monday, March 17th. Wolfe Research downgraded shares of Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. Wells Fargo & Company upped their price objective on shares of Bank of New York Mellon from $86.00 to $96.00 and gave the company an “equal weight” rating in a research note on Monday, March 3rd. Evercore ISI increased their target price on shares of Bank of New York Mellon from $83.00 to $87.00 and gave the company an “in-line” rating in a report on Tuesday, April 1st. Finally, Deutsche Bank Aktiengesellschaft boosted 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 research note on Thursday, January 16th. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Bank of New York Mellon currently has an average rating of “Moderate Buy” and an average target price of $89.64.

Bank of New York Mellon Stock Up 0.3 %

Shares of NYSE:BK opened at $77.74 on Wednesday. The stock’s 50-day moving average is $83.29 and its 200 day moving average is $80.26. The company has a market cap of $55.81 billion, a PE ratio of 13.38, a P/E/G ratio of 0.97 and a beta of 1.03. 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 Bank of New York Mellon Co. has a 1 year low of $52.64 and a 1 year high of $90.34.

Bank of New York Mellon (NYSE:BK) last posted its earnings results on Friday, April 11th. The bank reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.08. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. The firm had revenue of $4.79 billion for the quarter, compared to analysts’ expectations of $4.76 billion. During the same period in the previous year, the firm earned $1.29 earnings per share. The business’s revenue was up 5.9% compared to the same quarter last year. Sell-side analysts anticipate that The Bank of New York Mellon Co. will post 6.96 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 2nd. Shareholders of record on Monday, April 21st will be issued a $0.47 dividend. The ex-dividend date of this dividend is Monday, April 21st. This represents a $1.88 annualized dividend and a yield of 2.42%. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 30.62%.

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.