The Bank of New York Mellon Co. (NYSE:BK) Stock Position Raised by Kestra Private Wealth Services LLC

Kestra Private Wealth Services LLC boosted its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 437.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 42,234 shares of the bank’s stock after purchasing an additional 34,371 shares during the period. Kestra Private Wealth Services LLC’s holdings in Bank of New York Mellon were worth $3,245,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in BK. McClarren Financial Advisors Inc. raised its position 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 valued at $29,000 after buying 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 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. Grove Bank & Trust increased its holdings in shares of Bank of New York Mellon by 28.8% in the 3rd quarter. Grove Bank & Trust now owns 644 shares of the bank’s stock valued at $46,000 after purchasing an additional 144 shares during the period. Ashton Thomas Securities LLC purchased a new stake in shares of Bank of New York Mellon in the third quarter worth approximately $46,000. Finally, Modus Advisors LLC acquired a new stake in shares of Bank of New York Mellon during the fourth quarter worth approximately $49,000. 85.31% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have weighed in on BK shares. Citigroup upped their price objective on shares of Bank of New York Mellon from $75.00 to $82.00 and gave the company a “neutral” rating in a research note on Monday, November 25th. Deutsche Bank Aktiengesellschaft increased their price objective on Bank of New York Mellon from $94.00 to $98.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Bank of America boosted their target price on Bank of New York Mellon from $90.00 to $95.00 and gave the company a “buy” rating in a research note 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 note on Thursday, January 16th. Finally, UBS Group boosted their price target on Bank of New York Mellon from $88.00 to $94.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, Bank of New York Mellon has a consensus rating of “Moderate Buy” and an average price target of $88.00.

Bank of New York Mellon Price Performance

NYSE BK opened at $84.99 on Tuesday. The company has a market cap of $61.79 billion, a P/E ratio of 14.63, a P/E/G ratio of 0.98 and a beta of 1.08. The Bank of New York Mellon Co. has a 1 year low of $52.64 and a 1 year high of $87.70. 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 company has a fifty day simple moving average of $80.70 and a 200 day simple moving average of $74.83.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.66 billion. During the same period last year, the business posted $1.28 earnings per share. The firm’s revenue was up 11.2% compared to the same quarter last year. On average, sell-side analysts predict that The Bank of New York Mellon Co. will post 6.89 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Monday, January 27th were issued a dividend of $0.47 per share. The ex-dividend date was Monday, January 27th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.21%. Bank of New York Mellon’s dividend payout ratio (DPR) 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.