Transform Wealth LLC Buys New Shares 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) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 126,029 shares of the bank’s stock, valued at approximately $9,683,000.

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

Bank of New York Mellon Trading Up 1.3 %

Shares of NYSE BK opened at $83.31 on Tuesday. The company’s 50 day simple moving average is $78.96 and its 200 day simple moving average is $72.57. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.69 and a quick ratio of 0.70. The Bank of New York Mellon Co. has a fifty-two week low of $52.64 and a fifty-two week high of $83.67. The firm has a market capitalization of $60.57 billion, a P/E ratio of 14.34, a P/E/G ratio of 0.95 and a beta of 1.08.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share for the quarter, beating 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 company had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.66 billion. During the same quarter in the prior year, the business posted $1.28 EPS. The firm’s quarterly revenue was up 11.2% on a year-over-year basis. On average, analysts predict that The Bank of New York Mellon Co. will post 6.86 EPS for the current year.

Bank of New York Mellon Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on BK shares. Wells Fargo & Company lifted their price objective on Bank of New York Mellon from $82.00 to $86.00 and gave the company an “equal weight” rating in a report on Thursday, January 16th. Keefe, Bruyette & Woods boosted their price target on 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. Wolfe Research cut Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. The Goldman Sachs Group raised their price objective on shares of Bank of New York Mellon from $74.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Finally, Evercore ISI lifted their target price on shares of Bank of New York Mellon from $79.00 to $83.00 and gave the company an “in-line” rating in a research note on Thursday, January 16th. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average 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.