U.S. Capital Wealth Advisors LLC purchased a new stake in The Bank of New York Mellon Co. (NYSE:BK - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 104,327 shares of the bank's stock, valued at approximately $5,430,000.
Several other institutional investors have also added to or reduced their stakes in BK. Commonwealth Equity Services LLC raised its stake in Bank of New York Mellon by 1.0% during the 3rd quarter. Commonwealth Equity Services LLC now owns 190,074 shares of the bank's stock worth $8,107,000 after buying an additional 1,905 shares during the period. Raymond James & Associates increased its stake in Bank of New York Mellon by 5.9% during the 3rd quarter. Raymond James & Associates now owns 470,999 shares of the bank's stock valued at $20,088,000 after purchasing an additional 26,219 shares in the last quarter. Stratos Wealth Partners LTD. raised its holdings in Bank of New York Mellon by 1.4% during the third quarter. Stratos Wealth Partners LTD. now owns 22,285 shares of the bank's stock worth $950,000 after buying an additional 301 shares during the last quarter. Stratos Wealth Advisors LLC bought a new position in shares of Bank of New York Mellon in the third quarter valued at $218,000. Finally, Bank of New York Mellon Corp grew its holdings in shares of Bank of New York Mellon by 3.7% during the third quarter. Bank of New York Mellon Corp now owns 6,387,455 shares of the bank's stock valued at $272,425,000 after buying an additional 226,834 shares during the last quarter. 85.31% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of equities research analysts recently weighed in on the stock. Royal Bank of Canada restated a "sector perform" rating and issued a $58.00 target price on shares of Bank of New York Mellon in a report on Wednesday, March 27th. Jefferies Financial Group raised their target price on Bank of New York Mellon from $67.00 to $68.00 and gave the company a "buy" rating in a report on Thursday, April 18th. Bank of America upped their price target on Bank of New York Mellon from $64.00 to $66.00 and gave the stock a "buy" rating in a report on Wednesday, April 17th. Evercore ISI raised their price objective on Bank of New York Mellon from $57.00 to $61.00 and gave the company an "in-line" rating in a research note on Thursday, April 4th. Finally, Citigroup upped their target price on shares of Bank of New York Mellon from $60.00 to $65.00 and gave the stock a "buy" rating in a research note on Wednesday, February 14th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $60.17.
Check Out Our Latest Stock Report on Bank of New York Mellon
Insider Activity
In other news, EVP J Kevin Mccarthy sold 40,000 shares of the firm's stock in a transaction on Friday, April 19th. The stock was sold at an average price of $56.15, for a total value of $2,246,000.00. Following the completion of the transaction, the executive vice president now directly owns 100,404 shares of the company's stock, valued at $5,637,684.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP J Kevin Mccarthy sold 40,000 shares of the company's stock in a transaction dated Friday, April 19th. The stock was sold at an average price of $56.15, for a total transaction of $2,246,000.00. Following the sale, the executive vice president now directly owns 100,404 shares in the company, valued at $5,637,684.60. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Catherine Keating sold 54,070 shares of the stock in a transaction dated Thursday, April 18th. The stock was sold at an average price of $54.88, for a total transaction of $2,967,361.60. Following the completion of the sale, the vice president now directly owns 78,350 shares in the company, valued at $4,299,848. The disclosure for this sale can be found here. Insiders have sold a total of 98,568 shares of company stock valued at $5,459,897 over the last quarter. Company insiders own 0.14% of the company's stock.
Bank of New York Mellon Stock Performance
BK traded up $0.40 during trading on Friday, hitting $57.00. 2,214,001 shares of the company traded hands, compared to its average volume of 3,813,908. The firm has a market cap of $42.91 billion, a P/E ratio of 13.90, a price-to-earnings-growth ratio of 1.22 and a beta of 1.11. The company has a quick ratio of 0.72, a current ratio of 0.71 and a debt-to-equity ratio of 0.90. The Bank of New York Mellon Co. has a one year low of $39.65 and a one year high of $58.28. The stock's fifty day moving average is $56.16 and its 200 day moving average is $52.30.
Bank of New York Mellon (NYSE:BK - Get Free Report) last posted its quarterly earnings results on Tuesday, April 16th. The bank reported $1.29 EPS for the quarter, topping analysts' consensus estimates of $1.19 by $0.10. Bank of New York Mellon had a net margin of 9.48% and a return on equity of 11.80%. The company had revenue of $4.53 billion for the quarter, compared to analysts' expectations of $4.39 billion. During the same quarter in the previous year, the firm posted $1.13 EPS. Bank of New York Mellon's revenue was up 3.8% on a year-over-year basis. As a group, equities analysts predict that The Bank of New York Mellon Co. will post 5.43 EPS for the current fiscal year.
Bank of New York Mellon Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 9th. Stockholders of record on Friday, April 26th will be given a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 2.95%. The ex-dividend date of this dividend is Thursday, April 25th. Bank of New York Mellon's dividend payout ratio (DPR) is currently 40.98%.
About Bank of New York Mellon
(
Free Report)
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.
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