New Age Alpha Advisors LLC Buys 14,292 Shares of The Bank of New York Mellon Co. (NYSE:BK)

New Age Alpha Advisors LLC grew its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 5,626.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,546 shares of the bank’s stock after buying an additional 14,292 shares during the quarter. New Age Alpha Advisors LLC’s holdings in Bank of New York Mellon were worth $1,118,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the company. Norges Bank bought a new stake in Bank of New York Mellon during the fourth quarter valued at about $1,150,462,000. Wellington Management Group LLP raised its stake in Bank of New York Mellon by 2,707.1% during the 3rd quarter. Wellington Management Group LLP now owns 3,258,967 shares of the bank’s stock valued at $234,189,000 after purchasing an additional 3,142,869 shares during the period. Raymond James Financial Inc. bought a new position in Bank of New York Mellon in the 4th quarter worth approximately $90,955,000. Zacks Investment Management purchased a new stake in Bank of New York Mellon during the 3rd quarter valued at approximately $62,589,000. Finally, State Street Corp raised its position in shares of Bank of New York Mellon by 2.0% during the third quarter. State Street Corp now owns 33,313,594 shares of the bank’s stock valued at $2,393,915,000 after buying an additional 659,096 shares during the last quarter. Institutional investors own 85.31% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on BK. Deutsche Bank Aktiengesellschaft increased their price target on shares of Bank of New York Mellon from $94.00 to $98.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Wells Fargo & Company raised their price objective on shares of Bank of New York Mellon from $86.00 to $96.00 and gave the stock an “equal weight” rating in a research note on Monday, March 3rd. Royal Bank of Canada restated a “sector perform” rating and issued a $90.00 target price on shares of Bank of New York Mellon in a research note on Monday, March 17th. Evercore ISI boosted 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 note on Thursday, January 16th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Bank of New York Mellon from $87.00 to $96.00 and gave the company an “outperform” rating in a research report on Tuesday, December 3rd. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, Bank of New York Mellon currently has an average rating of “Moderate Buy” and a consensus target price of $89.71.

Bank of New York Mellon Trading Up 1.6 %

NYSE:BK opened at $84.00 on Tuesday. The company has a current ratio of 0.69, a quick ratio of 0.70 and a debt-to-equity ratio of 0.83. The stock’s 50 day simple moving average is $85.35 and its 200-day simple moving average is $79.80. The Bank of New York Mellon Co. has a 12-month low of $52.64 and a 12-month high of $90.34. The firm has a market cap of $60.31 billion, a P/E ratio of 14.46, a PEG ratio of 0.97 and a beta of 1.06.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings data on Wednesday, January 15th. The bank reported $1.72 EPS for the quarter, beating 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 firm’s revenue was up 11.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.28 earnings per share. Equities analysts anticipate that The Bank of New York Mellon Co. will post 6.96 EPS for the current year.

Bank of New York Mellon Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Monday, January 27th were given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 2.24%. 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 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.