Resonant Capital Advisors LLC Has $357,000 Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Resonant Capital Advisors LLC boosted its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 3.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,646 shares of the bank’s stock after purchasing an additional 162 shares during the period. Resonant Capital Advisors LLC’s holdings in Bank of New York Mellon were worth $357,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of BK. United Advisor Group LLC bought a new stake in Bank of New York Mellon in the 3rd quarter valued at approximately $595,000. Czech National Bank raised its holdings in shares of Bank of New York Mellon by 4.9% in the fourth quarter. Czech National Bank now owns 157,645 shares of the bank’s stock valued at $12,112,000 after purchasing an additional 7,316 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of Bank of New York Mellon by 1.7% in the third quarter. Principal Financial Group Inc. now owns 883,853 shares of the bank’s stock worth $63,514,000 after purchasing an additional 14,916 shares in the last quarter. Chase Investment Counsel Corp boosted its holdings in Bank of New York Mellon by 67.2% during the third quarter. Chase Investment Counsel Corp now owns 83,530 shares of the bank’s stock worth $6,002,000 after purchasing an additional 33,558 shares during the last quarter. Finally, HighTower Advisors LLC grew its position in Bank of New York Mellon by 130.1% in the third quarter. HighTower Advisors LLC now owns 326,372 shares of the bank’s stock valued at $23,449,000 after purchasing an additional 184,560 shares in the last quarter. 85.31% of the stock is currently owned by institutional investors.

Bank of New York Mellon Trading Down 0.8 %

Shares of NYSE:BK opened at $85.22 on Tuesday. The Bank of New York Mellon Co. has a 12-month low of $52.64 and a 12-month high of $87.70. The business has a 50 day moving average of $80.29 and a 200-day moving average of $74.04. 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 stock has a market cap of $61.96 billion, a PE ratio of 14.67, a P/E/G ratio of 0.98 and a beta of 1.08.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.18. The business had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.66 billion. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. The firm’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same period last year, the firm posted $1.28 EPS. As a group, equities research 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 firm also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Monday, January 27th will be paid a $0.47 dividend. The ex-dividend date of this dividend is Monday, January 27th. This represents a $1.88 annualized dividend and a dividend yield of 2.21%. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 32.36%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. JPMorgan Chase & Co. increased their price objective on shares of Bank of New York Mellon from $69.00 to $77.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Deutsche Bank Aktiengesellschaft raised their price target on Bank of New York Mellon from $94.00 to $98.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Barclays upped their price objective on Bank of New York Mellon from $102.00 to $104.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Keefe, Bruyette & Woods raised their target price on shares of Bank of New York Mellon from $87.00 to $96.00 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. Finally, UBS Group upped their price target on shares of Bank of New York Mellon from $88.00 to $94.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $88.00.

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.