Redhawk Wealth Advisors Inc. Invests $569,000 in The Bank of New York Mellon Co. (NYSE:BK)

Redhawk Wealth Advisors Inc. bought a new stake in The Bank of New York Mellon Co. (NYSE:BK) in the fourth quarter, HoldingsChannel reports. The fund bought 7,409 shares of the bank’s stock, valued at approximately $569,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of BK. McClarren Financial Advisors Inc. grew its stake in shares of Bank of New York Mellon by 586.4% during 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 period. Fortitude Family Office LLC boosted its holdings in Bank of New York Mellon by 130.6% in the third quarter. Fortitude Family Office LLC now owns 611 shares of the bank’s stock valued at $44,000 after acquiring an additional 346 shares during the last quarter. Grove Bank & Trust grew its position in Bank of New York Mellon by 28.8% during the third quarter. Grove Bank & Trust now owns 644 shares of the bank’s stock valued at $46,000 after acquiring an additional 144 shares during the period. Ashton Thomas Securities LLC acquired a new stake in Bank of New York Mellon during the third quarter worth about $46,000. Finally, Modus Advisors LLC purchased a new position in shares of Bank of New York Mellon in the 4th quarter worth about $49,000. Institutional investors and hedge funds own 85.31% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on BK. Citigroup boosted their target price on Bank of New York Mellon from $75.00 to $82.00 and gave the stock a “neutral” rating in a report on Monday, November 25th. Morgan Stanley increased 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 report on Thursday. StockNews.com lowered shares of Bank of New York Mellon from a “buy” rating to a “hold” rating in a report on Thursday. Deutsche Bank Aktiengesellschaft increased their price target on Bank of New York Mellon from $94.00 to $98.00 and gave the company a “buy” rating in a report on Thursday. Finally, Barclays boosted their price objective on Bank of New York Mellon from $102.00 to $104.00 and gave the stock an “overweight” rating in a research note on Thursday. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $87.14.

Bank of New York Mellon Trading Up 0.3 %

NYSE BK opened at $82.28 on Friday. The company has a market capitalization of $59.83 billion, a price-to-earnings ratio of 17.89, a price-to-earnings-growth ratio of 0.76 and a beta of 1.08. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.70 and a quick ratio of 0.70. The Bank of New York Mellon Co. has a 12 month low of $52.64 and a 12 month high of $82.72. The company’s fifty day moving average price is $78.65 and its two-hundred day moving average price is $72.01.

Bank of New York Mellon (NYSE:BK) last issued 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. The business had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.66 billion. Bank of New York Mellon had a net margin of 9.44% and a return on equity of 12.06%. The company’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same quarter last year, the company posted $1.28 earnings per share. As a group, research analysts predict that The Bank of New York Mellon Co. will post 5.87 earnings per share for the current fiscal year.

Bank of New York Mellon Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Monday, January 27th will be issued a $0.47 dividend. The ex-dividend date is Monday, January 27th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.28%. Bank of New York Mellon’s dividend payout ratio (DPR) is 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.