GABELLI & Co INVESTMENT ADVISERS INC. Purchases 9,000 Shares of The Bank of New York Mellon Co. (NYSE:BK)

GABELLI & Co INVESTMENT ADVISERS INC. boosted its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 163.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 14,500 shares of the bank’s stock after acquiring an additional 9,000 shares during the period. GABELLI & Co INVESTMENT ADVISERS INC.’s holdings in Bank of New York Mellon were worth $1,114,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Graney & King LLC bought a new position in shares of Bank of New York Mellon in the fourth quarter worth $35,000. Centricity Wealth Management LLC bought a new stake in shares of Bank of New York Mellon during the 4th quarter worth approximately $39,000. TCTC Holdings LLC increased its stake in Bank of New York Mellon by 257.5% in the fourth quarter. TCTC Holdings LLC now owns 597 shares of the bank’s stock valued at $46,000 after acquiring an additional 430 shares during the last quarter. Modus Advisors LLC acquired a new position in Bank of New York Mellon during the fourth quarter valued at approximately $49,000. Finally, Friedenthal Financial bought a new stake in shares of Bank of New York Mellon during the 4th quarter worth $56,000. 85.31% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Barclays raised their price target on shares of Bank of New York Mellon from $102.00 to $104.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Wolfe Research downgraded shares of Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. Wells Fargo & Company boosted their price objective on 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. Royal Bank of Canada reiterated a “sector perform” rating and issued a $90.00 target price on shares of Bank of New York Mellon in a research report on Monday, March 17th. Finally, Morgan Stanley lowered their price objective on Bank of New York Mellon from $99.00 to $98.00 and set an “overweight” rating for the company in a research note on Wednesday, April 2nd. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $89.64.

Bank of New York Mellon Trading Down 0.2 %

BK opened at $77.53 on Tuesday. 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 company’s 50-day moving average is $83.46 and its 200 day moving average is $80.28. The firm has a market capitalization of $55.66 billion, a PE ratio of 13.34, a P/E/G ratio of 0.97 and a beta of 1.03. The Bank of New York Mellon Co. has a fifty-two week low of $52.64 and a fifty-two week high of $90.34.

Bank of New York Mellon (NYSE:BK) last released 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 company had revenue of $4.79 billion during the quarter, compared to analyst estimates of $4.76 billion. During the same period in the prior year, the company posted $1.29 earnings per share. Bank of New York Mellon’s quarterly revenue was up 5.9% on a year-over-year basis. As a group, research 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 Announces Dividend

The firm 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 dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 2.42%. The ex-dividend date of this dividend is Monday, April 21st. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 30.62%.

Bank of New York Mellon 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.