Nilsine Partners LLC Raises Stock Position in The Bank of New York Mellon Co. (NYSE:BK)

Nilsine Partners LLC raised its stake in shares of The Bank of New York Mellon Co. (NYSE:BKFree Report) by 29.5% during the 4th quarter, HoldingsChannel.com reports. The firm owned 12,053 shares of the bank’s stock after acquiring an additional 2,746 shares during the quarter. Nilsine Partners LLC’s holdings in Bank of New York Mellon were worth $926,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of BK. McClarren Financial Advisors Inc. lifted its stake in Bank of New York Mellon by 586.4% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 405 shares of the bank’s stock valued at $29,000 after buying an additional 346 shares in the last quarter. Fortitude Family Office LLC lifted its position in shares of Bank of New York Mellon by 130.6% in the third 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 boosted its stake in shares of Bank of New York Mellon by 28.8% in the third quarter. Grove Bank & Trust now owns 644 shares of the bank’s stock worth $46,000 after acquiring an additional 144 shares during the last quarter. Ashton Thomas Securities LLC purchased a new stake in shares of Bank of New York Mellon during the third quarter worth approximately $46,000. Finally, Modus Advisors LLC acquired a new position in Bank of New York Mellon in the 4th quarter valued at $49,000. Institutional investors and hedge funds own 85.31% of the company’s stock.

Bank of New York Mellon Price Performance

BK stock opened at $86.52 on Wednesday. The business’s fifty day moving average price is $79.67 and its 200 day moving average price is $73.44. The Bank of New York Mellon Co. has a 12-month low of $52.64 and a 12-month high of $86.69. The company has a market capitalization of $62.90 billion, a PE ratio of 14.89, a P/E/G ratio of 0.96 and a beta of 1.08. The company has a current ratio of 0.69, a quick ratio of 0.70 and a debt-to-equity ratio of 0.83.

Bank of New York Mellon (NYSE:BKGet Free Report) last issued its quarterly earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.18. The business had revenue of $4.85 billion for the quarter, compared to analysts’ expectations 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 business’s quarterly revenue was up 11.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.28 earnings per share. On average, sell-side analysts anticipate that The Bank of New York Mellon Co. will post 6.86 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Monday, January 27th will be given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date is Monday, January 27th. Bank of New York Mellon’s dividend payout ratio is currently 32.36%.

Analyst Ratings Changes

Several equities research analysts have issued reports on BK shares. JPMorgan Chase & Co. lifted their target price 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. 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. Wolfe Research lowered shares of Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. Barclays upped their price target on Bank of New York Mellon from $102.00 to $104.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Finally, StockNews.com upgraded Bank of New York Mellon from a “hold” rating to a “buy” rating in a research report on Tuesday. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $88.00.

View Our Latest Report on BK

About Bank of New York Mellon

(Free Report)

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.

Read More

Want to see what other hedge funds are holding BK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Bank of New York Mellon Co. (NYSE:BKFree Report).

Institutional Ownership by Quarter for Bank of New York Mellon (NYSE:BK)

Receive News & Ratings for Bank of New York Mellon Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bank of New York Mellon and related companies with MarketBeat.com's FREE daily email newsletter.