Sax Wealth Advisors LLC Purchases Shares of 5,161 The Bank of New York Mellon Co. (NYSE:BK)

Sax Wealth Advisors LLC acquired a new position in shares of The Bank of New York Mellon Co. (NYSE:BK) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 5,161 shares of the bank’s stock, valued at approximately $397,000.

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

Bank of New York Mellon Stock Up 1.3 %

NYSE BK opened at $83.31 on Friday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.70 and a current ratio of 0.70. The Bank of New York Mellon Co. has a 52 week low of $52.64 and a 52 week high of $83.67. The stock has a market capitalization of $60.57 billion, a P/E ratio of 18.11, a price-to-earnings-growth ratio of 0.76 and a beta of 1.08. The stock has a fifty day moving average of $78.87 and a 200-day moving average of $72.24.

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 for the quarter, topping the consensus estimate of $1.54 by $0.18. Bank of New York Mellon had a return on equity of 12.06% and a net margin of 9.44%. The firm had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.66 billion. During the same period in the previous year, the business posted $1.28 EPS. The company’s quarterly revenue was up 11.2% compared to the same quarter last year. On average, equities research analysts forecast that The Bank of New York Mellon Co. will post 5.87 EPS for the current year.

Bank of New York Mellon Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Monday, January 27th will be issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date is Monday, January 27th. Bank of New York Mellon’s dividend payout ratio is presently 40.87%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on BK shares. Deutsche Bank Aktiengesellschaft raised their target price on Bank of New York Mellon from $94.00 to $98.00 and gave the stock a “buy” rating in a research report on Thursday. The Goldman Sachs Group lifted their price objective on Bank of New York Mellon from $74.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Citigroup upped their target price on shares of Bank of New York Mellon from $75.00 to $82.00 and gave the stock a “neutral” rating in a report on Monday, November 25th. UBS Group lifted their price target on shares of Bank of New York Mellon from $73.00 to $82.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Bank of New York Mellon from $69.00 to $77.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $87.14.

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.