Burns Matteson Capital Management LLC Invests $245,000 in The Bank of New York Mellon Co. (NYSE:BK)

Burns Matteson Capital Management LLC bought a new stake in The Bank of New York Mellon Co. (NYSE:BK) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 3,193 shares of the bank’s stock, valued at approximately $245,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Angeles Wealth Management LLC acquired a new stake in shares of Bank of New York Mellon in the 4th quarter valued at approximately $202,000. Kestra Private Wealth Services LLC raised its position in Bank of New York Mellon by 437.1% in the fourth quarter. Kestra Private Wealth Services LLC now owns 42,234 shares of the bank’s stock worth $3,245,000 after acquiring an additional 34,371 shares in the last quarter. Stephens Inc. AR lifted its holdings in Bank of New York Mellon by 30.8% in the fourth quarter. Stephens Inc. AR now owns 91,132 shares of the bank’s stock valued at $7,002,000 after acquiring an additional 21,441 shares during the period. Stockman Wealth Management Inc. acquired a new stake in Bank of New York Mellon in the fourth quarter valued at $211,000. Finally, Quotient Wealth Partners LLC boosted its position in shares of Bank of New York Mellon by 6.0% during the 4th quarter. Quotient Wealth Partners LLC now owns 3,030 shares of the bank’s stock worth $233,000 after purchasing an additional 172 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 brokerages recently commented on BK. UBS Group raised their price objective on shares of Bank of New York Mellon from $88.00 to $94.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. Bank of America boosted their price target on Bank of New York Mellon from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $79.00 price objective on shares of Bank of New York Mellon in a report on Monday, October 14th. Deutsche Bank Aktiengesellschaft upped their target price on Bank of New York Mellon from $94.00 to $98.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Finally, Evercore ISI lifted their price target on 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. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, Bank of New York Mellon presently has a consensus rating of “Moderate Buy” and an average price target of $88.00.

Bank of New York Mellon Trading Down 0.3 %

Shares of BK opened at $86.15 on Monday. The Bank of New York Mellon Co. has a fifty-two week low of $52.64 and a fifty-two week high of $87.70. The company has a market capitalization of $62.64 billion, a PE ratio of 14.83, a price-to-earnings-growth ratio of 0.98 and a beta of 1.08. The stock has a fifty day moving average of $80.70 and a two-hundred day moving average of $74.75. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.70 and a current ratio of 0.69.

Bank of New York Mellon (NYSE:BK) last released its 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. The firm had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.66 billion. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. The business’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.28 earnings per share. As a group, analysts forecast that The Bank of New York Mellon Co. will post 6.89 EPS for the current year.

Bank of New York Mellon Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Monday, January 27th were issued a $0.47 dividend. The ex-dividend date was Monday, January 27th. This represents a $1.88 dividend on an annualized basis and a yield of 2.18%. Bank of New York Mellon’s payout ratio is 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.