Invesco LLC Invests $204,000 in The Bank of New York Mellon Co. (NYSE:BK)

Invesco LLC acquired a new stake in The Bank of New York Mellon Co. (NYSE:BK) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 2,658 shares of the bank’s stock, valued at approximately $204,000.

Several other large investors also recently bought and sold shares of BK. McClarren Financial Advisors Inc. raised its stake in Bank of New York Mellon by 586.4% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 405 shares of the bank’s stock worth $29,000 after acquiring an additional 346 shares during the last quarter. Fortitude Family Office LLC increased its holdings in Bank of New York Mellon by 130.6% in the 3rd quarter. Fortitude Family Office LLC now owns 611 shares of the bank’s stock worth $44,000 after buying an additional 346 shares during the period. Grove Bank & Trust lifted its stake in Bank of New York Mellon by 28.8% during the 3rd 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 purchased a new stake in shares of Bank of New York Mellon in the 3rd quarter valued at $46,000. Finally, Modus Advisors LLC acquired a new stake in shares of Bank of New York Mellon in the fourth quarter worth $49,000. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Trading Up 1.2 %

Shares of BK traded up $1.06 during mid-day trading on Wednesday, reaching $87.40. The stock had a trading volume of 211,528 shares, compared to its average volume of 4,053,385. The Bank of New York Mellon Co. has a 52-week low of $52.64 and a 52-week high of $87.39. The business’s fifty day moving average is $79.85 and its 200 day moving average is $73.59. The firm has a market cap of $63.55 billion, a price-to-earnings ratio of 15.03, a P/E/G ratio of 0.96 and a beta of 1.08. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.69 and a quick ratio of 0.70.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings data on Wednesday, January 15th. The bank reported $1.72 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.66 billion. During the same quarter in the previous year, the business earned $1.28 EPS. The company’s quarterly revenue was up 11.2% compared to the same quarter last year. On average, sell-side analysts predict that The Bank of New York Mellon Co. will post 6.86 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Monday, January 27th will be given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date is Monday, January 27th. Bank of New York Mellon’s dividend payout ratio is currently 32.36%.

Analysts Set New Price Targets

A number of brokerages have issued reports on BK. Bank of America boosted their price target on Bank of New York Mellon from $90.00 to $95.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Royal Bank of Canada restated a “sector perform” rating and issued a $79.00 price target on shares of Bank of New York Mellon in a research note on Monday, October 14th. Wolfe Research cut Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. Deutsche Bank Aktiengesellschaft increased their target price on Bank of New York Mellon from $94.00 to $98.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Finally, Wells Fargo & Company boosted their price target on shares of Bank of New York Mellon from $82.00 to $86.00 and gave the stock an “equal weight” rating in a report on Thursday, January 16th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Bank of New York Mellon has an average rating of “Moderate Buy” and an average price target of $88.00.

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.