2,657 Shares in The Bank of New York Mellon Co. (NYSE:BK) Purchased by TCI Wealth Advisors Inc.

TCI Wealth Advisors Inc. bought a new position in The Bank of New York Mellon Co. (NYSE:BK) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 2,657 shares of the bank’s stock, valued at approximately $204,000.

Other hedge funds have also added to or reduced their stakes in the company. State Street Corp boosted its holdings in shares of Bank of New York Mellon by 2.0% in the third quarter. State Street Corp now owns 33,313,594 shares of the bank’s stock valued at $2,393,915,000 after purchasing an additional 659,096 shares during the period. FMR LLC lifted its holdings in shares of Bank of New York Mellon by 78.6% in the 3rd quarter. FMR LLC now owns 19,338,722 shares of the bank’s stock worth $1,389,680,000 after buying an additional 8,512,404 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Bank of New York Mellon by 1.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,634,088 shares of the bank’s stock worth $476,726,000 after buying an additional 117,974 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of Bank of New York Mellon by 2,707.1% during the third quarter. Wellington Management Group LLP now owns 3,258,967 shares of the bank’s stock valued at $234,189,000 after buying an additional 3,142,869 shares during the period. Finally, Franklin Resources Inc. raised its holdings in shares of Bank of New York Mellon by 8.3% in the third quarter. Franklin Resources Inc. now owns 2,252,729 shares of the bank’s stock valued at $172,348,000 after acquiring an additional 173,347 shares in the last quarter. 85.31% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on BK shares. Wolfe Research cut shares of Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Bank of New York Mellon from $94.00 to $98.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Bank of America upped their target price on Bank of New York Mellon from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Citigroup lifted their price target on Bank of New York Mellon from $75.00 to $82.00 and gave the company a “neutral” rating in a report on Monday, November 25th. Finally, Truist Financial upped their price objective on Bank of New York Mellon from $91.00 to $93.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Bank of New York Mellon presently has a consensus rating of “Moderate Buy” and a consensus target price of $88.00.

Bank of New York Mellon Stock Down 0.6 %

BK stock opened at $86.01 on Friday. The stock has a market capitalization of $62.53 billion, a PE ratio of 14.80, a price-to-earnings-growth ratio of 0.98 and a beta of 1.08. The Bank of New York Mellon Co. has a 52 week low of $52.64 and a 52 week high of $87.70. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.83. The firm has a 50 day moving average of $80.17 and a 200 day moving average of $73.77.

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 for the quarter, beating analysts’ consensus estimates 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 net margin of 11.35% and a return on equity of 12.68%. The business’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.28 earnings per share. Sell-side analysts forecast that The Bank of New York Mellon Co. will post 6.86 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Monday, January 27th will be paid a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 2.19%. The ex-dividend date of this dividend is Monday, January 27th. Bank of New York Mellon’s payout ratio is 32.36%.

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.