The Bank of New York Mellon Co. (NYSE:BK) Shares Acquired by Borer Denton & Associates Inc.

Borer Denton & Associates Inc. lifted its position in The Bank of New York Mellon Co. (NYSE:BK) by 9.0% during the fourth quarter, HoldingsChannel.com reports. The fund owned 29,009 shares of the bank’s stock after acquiring an additional 2,389 shares during the period. Bank of New York Mellon makes up 0.8% of Borer Denton & Associates Inc.’s portfolio, making the stock its 29th largest position. Borer Denton & Associates Inc.’s holdings in Bank of New York Mellon were worth $2,229,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. Centricity Wealth Management LLC acquired a new position in shares of Bank of New York Mellon during the 4th quarter worth approximately $39,000. TCTC Holdings LLC boosted its stake in Bank of New York Mellon by 257.5% during the fourth quarter. TCTC Holdings LLC now owns 597 shares of the bank’s stock worth $46,000 after buying an additional 430 shares during the last quarter. Modus Advisors LLC purchased a new stake in Bank of New York Mellon in the 4th quarter valued at $49,000. Friedenthal Financial acquired a new stake in shares of Bank of New York Mellon in the 4th quarter worth $56,000. Finally, Asset Dedication LLC raised its holdings in shares of Bank of New York Mellon by 342.1% during the 4th quarter. Asset Dedication LLC now owns 756 shares of the bank’s stock worth $58,000 after acquiring an additional 585 shares during the period. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Bank of New York Mellon Stock Performance

Shares of BK opened at $85.21 on Wednesday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.70 and a current ratio of 0.69. The Bank of New York Mellon Co. has a 1 year low of $52.64 and a 1 year high of $90.34. The stock has a market capitalization of $61.18 billion, a PE ratio of 14.67, a PEG ratio of 0.97 and a beta of 1.06. The stock has a 50-day simple moving average of $85.24 and a 200-day simple moving average of $79.35.

Bank of New York Mellon (NYSE:BK) last posted 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 for 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%. Bank of New York Mellon’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.28 earnings per share. On average, analysts predict 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 business also recently declared a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Monday, January 27th were paid a $0.47 dividend. The ex-dividend date was Monday, January 27th. This represents a $1.88 annualized dividend and a yield of 2.21%. Bank of New York Mellon’s dividend payout ratio is currently 32.36%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on BK shares. Citigroup upped their price objective on shares of Bank of New York Mellon from $82.00 to $85.00 and gave the company a “neutral” rating in a report on Monday. Evercore ISI raised their price target on shares of Bank of New York Mellon from $79.00 to $83.00 and gave the stock an “in-line” rating in a report on Thursday, January 16th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $90.00 price objective on shares of Bank of New York Mellon in a report on Monday, March 17th. UBS Group raised their target price on 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. Finally, Bank of America upped their price target on Bank of New York Mellon from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.71.

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.