The Bank of New York Mellon Co. (NYSE:BK) Shares Acquired by Independent Advisor Alliance

Independent Advisor Alliance increased its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 106.2% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 11,487 shares of the bank’s stock after purchasing an additional 5,915 shares during the quarter. Independent Advisor Alliance’s holdings in Bank of New York Mellon were worth $883,000 as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of BK. Cape Investment Advisory Inc. raised its stake in shares of Bank of New York Mellon by 12.6% during the 4th quarter. Cape Investment Advisory Inc. now owns 1,172 shares of the bank’s stock worth $90,000 after buying an additional 131 shares during the last quarter. Oppenheimer & Co. Inc. increased its holdings in Bank of New York Mellon by 0.4% during the 4th quarter. Oppenheimer & Co. Inc. now owns 34,536 shares of the bank’s stock valued at $2,653,000 after acquiring an additional 133 shares in the last quarter. Studio Investment Management LLC raised its position in Bank of New York Mellon by 2.1% during the third quarter. Studio Investment Management LLC now owns 6,636 shares of the bank’s stock worth $477,000 after acquiring an additional 134 shares during the last quarter. Grove Bank & Trust lifted its holdings in shares of Bank of New York Mellon by 21.0% in 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. Finally, Valeo Financial Advisors LLC grew its position in shares of Bank of New York Mellon by 1.6% in the fourth quarter. Valeo Financial Advisors LLC now owns 9,041 shares of the bank’s stock valued at $695,000 after purchasing an additional 139 shares during the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on BK. Citigroup lifted their price objective on Bank of New York Mellon from $75.00 to $82.00 and gave the stock a “neutral” rating in a research report on Monday, November 25th. Wells Fargo & Company boosted their price target on Bank of New York Mellon from $86.00 to $96.00 and gave the stock an “equal weight” rating in a report on Monday, March 3rd. UBS Group increased their price objective on Bank of New York Mellon from $88.00 to $94.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. Morgan Stanley boosted 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 note on Thursday, January 16th. Finally, Barclays upped their target price on shares of Bank of New York Mellon from $102.00 to $104.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $88.71.

Bank of New York Mellon Price Performance

Shares of Bank of New York Mellon stock opened at $81.87 on Friday. The business’s fifty day moving average price is $84.30 and its 200 day moving average price is $78.47. The Bank of New York Mellon Co. has a twelve month low of $52.64 and a twelve month high of $90.34. The company has a current ratio of 0.69, a quick ratio of 0.70 and a debt-to-equity ratio of 0.83. The stock has a market capitalization of $58.78 billion, a P/E ratio of 14.09, a PEG ratio of 0.97 and a beta of 1.06.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings data on Wednesday, January 15th. The bank reported $1.72 earnings per share 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 business had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.66 billion. During the same period in the previous year, the company posted $1.28 EPS. The company’s revenue was up 11.2% compared to the same quarter last year. As a group, research analysts anticipate that The Bank of New York Mellon Co. will post 6.96 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The firm also recently announced 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 2.30%. The ex-dividend date was Monday, January 27th. Bank of New York Mellon’s dividend payout ratio is presently 32.36%.

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.