Transform Wealth LLC Makes New Investment in The Bank of New York Mellon Co. (NYSE:BK)

Transform Wealth LLC purchased a new position in The Bank of New York Mellon Co. (NYSE:BK) in the 4th quarter, Holdings Channel reports. The institutional investor purchased 126,029 shares of the bank’s stock, valued at approximately $9,683,000.

Several other hedge funds have also recently bought and sold shares of the stock. Harbor Investment Advisory LLC boosted its holdings in Bank of New York Mellon by 1,956.0% during the fourth quarter. Harbor Investment Advisory LLC now owns 8,409 shares of the bank’s stock worth $646,000 after purchasing an additional 8,000 shares during the last quarter. UMB Bank n.a. lifted its position in Bank of New York Mellon by 2,123.7% during the 4th quarter. UMB Bank n.a. now owns 97,953 shares of the bank’s stock worth $7,526,000 after buying an additional 93,548 shares in the last quarter. M.E. Allison & CO. Inc. bought a new stake in Bank of New York Mellon during the 4th quarter worth about $371,000. Ellsworth Advisors LLC boosted its stake in shares of Bank of New York Mellon by 26.3% during the 4th quarter. Ellsworth Advisors LLC now owns 6,039 shares of the bank’s stock worth $464,000 after buying an additional 1,256 shares during the last quarter. Finally, Grove Bank & Trust grew its holdings in shares of Bank of New York Mellon by 21.0% in the 4th quarter. Grove Bank & Trust now owns 779 shares of the bank’s stock valued at $60,000 after acquiring an additional 135 shares in the last quarter. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Bank of New York Mellon Stock Up 1.3 %

Shares of NYSE:BK opened at $83.31 on Tuesday. The Bank of New York Mellon Co. has a 52-week low of $52.64 and a 52-week high of $83.67. The company has a market capitalization of $60.57 billion, a PE ratio of 14.34, a price-to-earnings-growth ratio of 0.95 and a beta of 1.08. 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 company has a fifty day moving average of $78.96 and a 200-day moving average of $72.57.

Bank of New York Mellon (NYSE:BK) last issued its earnings results 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. 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 during the quarter, compared to analysts’ expectations of $4.66 billion. During the same quarter in the prior year, the firm earned $1.28 EPS. The business’s revenue for the quarter was up 11.2% compared to the same quarter last year. On average, equities analysts predict that The Bank of New York Mellon Co. will post 6.86 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Monday, January 27th will be given a dividend of $0.47 per share. The ex-dividend date of this dividend is Monday, January 27th. This represents a $1.88 annualized dividend and a yield of 2.26%. Bank of New York Mellon’s dividend payout ratio is presently 32.36%.

Analysts Set New Price Targets

BK has been the topic of several recent analyst reports. Keefe, Bruyette & Woods boosted their price target on Bank of New York Mellon from $87.00 to $96.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. Barclays increased their price target on Bank of New York Mellon from $102.00 to $104.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Wells Fargo & Company upped their target price on Bank of New York Mellon from $82.00 to $86.00 and gave the company an “equal weight” rating in a research report on Thursday, January 16th. Morgan Stanley raised their price target on Bank of New York Mellon from $90.00 to $97.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Finally, Evercore ISI upped their price objective 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. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $87.14.

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.