Avantax Advisory Services Inc. Grows Stock Position in The Bank of New York Mellon Co. (NYSE:BK)

Avantax Advisory Services Inc. increased its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 6.9% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 63,431 shares of the bank’s stock after buying an additional 4,090 shares during the period. Avantax Advisory Services Inc.’s holdings in Bank of New York Mellon were worth $4,873,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in BK. Assetmark Inc. boosted its position in shares of Bank of New York Mellon by 64.7% in the 3rd quarter. Assetmark Inc. now owns 1,869 shares of the bank’s stock worth $134,000 after buying an additional 734 shares in the last quarter. Sigma Planning Corp lifted its holdings in Bank of New York Mellon by 2.7% in the 3rd quarter. Sigma Planning Corp now owns 5,470 shares of the bank’s stock valued at $393,000 after purchasing an additional 143 shares in the last quarter. Venturi Wealth Management LLC lifted its holdings in Bank of New York Mellon by 21.5% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,147 shares of the bank’s stock valued at $82,000 after purchasing an additional 203 shares in the last quarter. Apollon Wealth Management LLC lifted its holdings in Bank of New York Mellon by 4.7% in the 3rd quarter. Apollon Wealth Management LLC now owns 18,868 shares of the bank’s stock valued at $1,356,000 after purchasing an additional 840 shares in the last quarter. Finally, Aptus Capital Advisors LLC lifted its holdings in Bank of New York Mellon by 4.2% in the 3rd quarter. Aptus Capital Advisors LLC now owns 6,665 shares of the bank’s stock valued at $479,000 after purchasing an additional 271 shares in the last quarter. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Citigroup upped their target price on shares of Bank of New York Mellon from $75.00 to $82.00 and gave the company a “neutral” rating in a report on Monday, November 25th. UBS Group upped their target price on shares of Bank of New York Mellon from $88.00 to $94.00 and gave the company a “buy” rating in a report on Tuesday, January 21st. Bank of America upped their target price on shares of Bank of New York Mellon from $90.00 to $95.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Wells Fargo & Company upped their price objective on shares of Bank of New York Mellon from $86.00 to $96.00 and gave the company an “equal weight” rating in a research note on Monday, March 3rd. Finally, Keefe, Bruyette & Woods upped their price objective on shares of 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. 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 company currently has a consensus rating of “Moderate Buy” and a consensus target price of $88.71.

Bank of New York Mellon Stock Up 2.8 %

BK opened at $81.87 on Friday. The firm has a 50 day moving average price of $84.30 and a 200 day moving average price of $78.40. The company has a market cap of $58.78 billion, a PE ratio of 14.09, a price-to-earnings-growth ratio of 0.97 and a beta of 1.06. The Bank of New York Mellon Co. has a 1 year low of $52.64 and a 1 year high of $90.34. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.70 and a current ratio of 0.69.

Bank of New York Mellon (NYSE:BK) last posted 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. The firm had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.66 billion. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The company’s revenue was up 11.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.28 EPS. Sell-side analysts expect 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 business also recently declared a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Monday, January 27th were issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date of this dividend was Monday, January 27th. Bank of New York Mellon’s dividend payout ratio is presently 32.36%.

Bank of New York Mellon Company 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.