The Bank of New York Mellon Co. (NYSE:BK) Shares Bought by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC increased its stake in The Bank of New York Mellon Co. (NYSE:BK) by 3.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 167,092 shares of the bank’s stock after acquiring an additional 5,977 shares during the period. Exchange Traded Concepts LLC’s holdings in Bank of New York Mellon were worth $12,838,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. McClarren Financial Advisors Inc. grew its holdings in shares of Bank of New York Mellon by 586.4% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 405 shares of the bank’s stock worth $29,000 after purchasing an additional 346 shares during the period. Fortitude Family Office LLC grew its stake in Bank of New York Mellon by 130.6% during the third quarter. Fortitude Family Office LLC now owns 611 shares of the bank’s stock worth $44,000 after buying an additional 346 shares during the period. Modus Advisors LLC acquired a new stake in shares of Bank of New York Mellon in the fourth quarter worth $49,000. Ashton Thomas Securities LLC acquired a new stake in Bank of New York Mellon in the 3rd quarter valued at $46,000. Finally, Grove Bank & Trust boosted its position in shares of Bank of New York Mellon by 28.8% in the third quarter. Grove Bank & Trust now owns 644 shares of the bank’s stock worth $46,000 after buying an additional 144 shares during the period. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Bank of New York Mellon Stock Up 0.6 %

Shares of BK stock opened at $85.27 on Friday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.70 and a current ratio of 0.69. The stock has a market cap of $61.99 billion, a PE ratio of 14.65, a price-to-earnings-growth ratio of 0.96 and a beta of 1.08. The business’s fifty day moving average is $79.23 and its 200-day moving average is $72.82. The Bank of New York Mellon Co. has a 1 year low of $52.64 and a 1 year high of $85.81.

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 (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.18. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The company had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.66 billion. During the same quarter in the previous year, the company posted $1.28 EPS. The business’s revenue was up 11.2% compared to the same quarter last year. Equities analysts expect that The Bank of New York Mellon Co. will post 6.86 earnings per share for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Monday, January 27th will be given a $0.47 dividend. The ex-dividend date of this dividend is Monday, January 27th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.20%. Bank of New York Mellon’s dividend payout ratio (DPR) is 32.36%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on BK. Keefe, Bruyette & Woods raised their target price on 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. Morgan Stanley raised their price objective on 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. UBS Group upped their target price on Bank of New York Mellon from $88.00 to $94.00 and gave the company a “buy” rating in a research report on Tuesday. Evercore ISI raised their price target on shares of Bank of New York Mellon from $79.00 to $83.00 and gave the stock an “in-line” rating in a research report on Thursday, January 16th. Finally, StockNews.com cut shares of Bank of New York Mellon from a “buy” rating to a “hold” 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 company. According to data from MarketBeat, Bank of New York Mellon has an average rating of “Moderate Buy” and a consensus price target of $88.00.

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.