Apollon Wealth Management LLC Buys 3,059 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Apollon Wealth Management LLC increased its stake in The Bank of New York Mellon Co. (NYSE:BK) by 16.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 21,927 shares of the bank’s stock after purchasing an additional 3,059 shares during the period. Apollon Wealth Management LLC’s holdings in Bank of New York Mellon were worth $1,685,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of BK. Studio Investment Management LLC raised its position in shares of Bank of New York Mellon by 2.1% in the 3rd quarter. Studio Investment Management LLC now owns 6,636 shares of the bank’s stock valued at $477,000 after buying an additional 134 shares in the last quarter. Stanley Laman Group Ltd. increased its stake in Bank of New York Mellon by 2.2% in the third quarter. Stanley Laman Group Ltd. now owns 6,198 shares of the bank’s stock valued at $445,000 after acquiring an additional 135 shares during the last quarter. Grove Bank & Trust raised its position in Bank of New York Mellon by 21.0% during the fourth quarter. Grove Bank & Trust now owns 779 shares of the bank’s stock valued at $60,000 after purchasing an additional 135 shares in the last quarter. Avidian Wealth Enterprises LLC raised its position in Bank of New York Mellon by 2.0% during the third quarter. Avidian Wealth Enterprises LLC now owns 7,024 shares of the bank’s stock valued at $505,000 after purchasing an additional 137 shares in the last quarter. Finally, Frank Rimerman Advisors LLC lifted its stake in Bank of New York Mellon by 1.1% during the third quarter. Frank Rimerman Advisors LLC now owns 12,908 shares of the bank’s stock worth $928,000 after purchasing an additional 142 shares during the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on BK. Evercore ISI boosted their price target on Bank of New York Mellon from $79.00 to $83.00 and gave the stock an “in-line” rating in a report on Thursday, January 16th. UBS Group boosted their target price on Bank of New York Mellon from $88.00 to $94.00 and gave the stock a “buy” rating in a research note on Tuesday, January 21st. 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. StockNews.com cut shares of Bank of New York Mellon from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Finally, Morgan Stanley raised their target price on shares of Bank of New York Mellon from $90.00 to $97.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, Bank of New York Mellon currently has a consensus rating of “Moderate Buy” and a consensus price target of $88.00.

Bank of New York Mellon Stock Performance

NYSE BK opened at $84.99 on Tuesday. The company has a market capitalization of $61.79 billion, a price-to-earnings ratio of 14.63, a PEG ratio of 0.98 and a beta of 1.08. The Bank of New York Mellon Co. has a twelve month low of $52.64 and a twelve month high of $87.70. The stock has a fifty day simple moving average of $80.70 and a 200 day simple moving average of $74.83. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.83.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings data on Wednesday, January 15th. The bank reported $1.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.54 by $0.18. The company had revenue of $4.85 billion during the quarter, compared to the consensus estimate 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 was up 11.2% compared to the same quarter last year. During the same period last year, the company earned $1.28 earnings per share. Sell-side analysts expect that The Bank of New York Mellon Co. will post 6.89 EPS for the current year.

Bank of New York Mellon Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Monday, January 27th were paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date was Monday, January 27th. Bank of New York Mellon’s dividend 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.