The Bank of New York Mellon Co. (NYSE:BK) Position Boosted by HighPoint Advisor Group LLC

HighPoint Advisor Group LLC raised its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK) by 14.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,559 shares of the bank’s stock after acquiring an additional 975 shares during the period. HighPoint Advisor Group LLC’s holdings in Bank of New York Mellon were worth $581,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Franklin Resources Inc. increased its stake in shares of Bank of New York Mellon by 2.0% during the fourth quarter. Franklin Resources Inc. now owns 2,297,463 shares of the bank’s stock valued at $176,514,000 after acquiring an additional 44,734 shares during the period. Summit Financial LLC boosted its stake in Bank of New York Mellon by 5.6% during the 4th quarter. Summit Financial LLC now owns 11,393 shares of the bank’s stock valued at $875,000 after purchasing an additional 607 shares in the last quarter. FSB Premier Wealth Management Inc. increased its position in shares of Bank of New York Mellon by 15.9% during the 4th quarter. FSB Premier Wealth Management Inc. now owns 12,577 shares of the bank’s stock valued at $966,000 after purchasing an additional 1,729 shares during the period. O Shaughnessy Asset Management LLC raised its stake in shares of Bank of New York Mellon by 11.7% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 786,496 shares of the bank’s stock worth $60,426,000 after buying an additional 82,671 shares in the last quarter. Finally, CIBC Private Wealth Group LLC lifted its holdings 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 during the period. Institutional investors and hedge funds own 85.31% of the company’s stock.

Analyst Ratings Changes

BK has been the topic of several research reports. Wells Fargo & Company boosted their price target on shares of Bank of New York Mellon from $86.00 to $96.00 and gave the stock an “equal weight” rating in a research report on Monday, March 3rd. StockNews.com downgraded shares of Bank of New York Mellon from a “buy” rating to a “hold” rating in a report on Wednesday, February 19th. UBS Group raised their target price on shares of Bank of New York Mellon from $88.00 to $94.00 and gave the stock a “buy” rating in a report on Tuesday, January 21st. Evercore ISI upped their price target on Bank of New York Mellon from $83.00 to $87.00 and gave the company an “in-line” rating in a report on Tuesday. Finally, Citigroup raised their price objective on Bank of New York Mellon from $82.00 to $85.00 and gave the stock a “neutral” rating in a research note on Monday, March 24th. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, Bank of New York Mellon currently has a consensus rating of “Moderate Buy” and a consensus target price of $90.07.

Bank of New York Mellon Stock Up 0.7 %

Bank of New York Mellon stock opened at $84.33 on Thursday. 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 has a debt-to-equity ratio of 0.83, a quick ratio of 0.70 and a current ratio of 0.69. The firm has a market cap of $60.55 billion, a PE ratio of 14.51, a P/E/G ratio of 0.97 and a beta of 1.03. The firm’s 50 day moving average price is $85.33 and its two-hundred day moving average price is $79.94.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings data on Wednesday, January 15th. The bank reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.18. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. The business had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.66 billion. During the same period last year, the company earned $1.28 earnings per share. Bank of New York Mellon’s quarterly revenue was up 11.2% compared to the same quarter last year. On average, research analysts predict that The Bank of New York Mellon Co. will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Monday, January 27th were given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 2.23%. The ex-dividend date was Monday, January 27th. Bank of New York Mellon’s payout ratio is presently 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.