YorkBridge Wealth Partners LLC boosted its position in shares of Bank of New York Mellon Corp (NYSE:BK) by 15.1% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 10,216 shares of the bank’s stock after buying an additional 1,340 shares during the period. YorkBridge Wealth Partners LLC’s holdings in Bank of New York Mellon were worth $556,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. Country Trust Bank increased its stake in Bank of New York Mellon by 4.1% during the 3rd quarter. Country Trust Bank now owns 606,030 shares of the bank’s stock worth $32,132,000 after buying an additional 23,683 shares in the last quarter. Sei Investments Co. increased its stake in Bank of New York Mellon by 7.4% during the 3rd quarter. Sei Investments Co. now owns 1,020,622 shares of the bank’s stock worth $54,102,000 after buying an additional 70,619 shares in the last quarter. Wealthfront Inc. increased its stake in Bank of New York Mellon by 6.6% during the 4th quarter. Wealthfront Inc. now owns 47,762 shares of the bank’s stock worth $2,572,000 after buying an additional 2,974 shares in the last quarter. Rothschild Asset Management Inc. purchased a new stake in Bank of New York Mellon during the 3rd quarter worth approximately $612,000. Finally, Steward Partners Investment Advisory LLC purchased a new stake in Bank of New York Mellon during the 3rd quarter worth approximately $748,000. Institutional investors own 83.71% of the company’s stock.
Bank of New York Mellon Corp (BK) traded up $0.67 on Thursday, reaching $57.12. The company had a trading volume of 306,015 shares, compared to its average volume of 4,638,319. Bank of New York Mellon Corp has a 12-month low of $45.12 and a 12-month high of $58.99. The firm has a market capitalization of $57,178.39, a PE ratio of 15.13, a PEG ratio of 1.80 and a beta of 1.21. The company has a quick ratio of 0.69, a current ratio of 0.70 and a debt-to-equity ratio of 0.82.
Bank of New York Mellon (NYSE:BK) last released its quarterly earnings data on Thursday, January 18th. The bank reported $0.91 EPS for the quarter, meeting analysts’ consensus estimates of $0.91. Bank of New York Mellon had a return on equity of 10.69% and a net margin of 24.72%. The firm had revenue of $3.73 billion for the quarter, compared to analysts’ expectations of $4.01 billion. During the same period in the prior year, the firm posted $0.77 earnings per share. The firm’s quarterly revenue was down 1.6% on a year-over-year basis. equities analysts predict that Bank of New York Mellon Corp will post 4.06 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 9th. Investors of record on Tuesday, January 30th were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date was Monday, January 29th. Bank of New York Mellon’s dividend payout ratio is presently 25.74%.
In related news, CFO Thomas P. Gibbons sold 38,152 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $54.15, for a total value of $2,065,930.80. Following the transaction, the chief financial officer now directly owns 310,002 shares in the company, valued at $16,786,608.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 3.60% of the company’s stock.
A number of equities research analysts have recently issued reports on BK shares. Morgan Stanley upgraded Bank of New York Mellon from an “equal weight” rating to an “overweight” rating and set a $60.00 price target for the company in a research report on Friday, January 19th. Barclays upped their price target on Bank of New York Mellon from $55.00 to $66.00 and gave the company an “overweight” rating in a research report on Tuesday, January 2nd. Zacks Investment Research upgraded Bank of New York Mellon from a “hold” rating to a “buy” rating and set a $61.00 price target for the company in a research report on Wednesday, December 20th. JPMorgan Chase & Co. lowered Bank of New York Mellon from a “neutral” rating to an “underweight” rating and set a $55.50 price target for the company. in a research report on Friday, January 19th. Finally, ValuEngine upgraded Bank of New York Mellon from a “hold” rating to a “buy” rating in a research report on Tuesday, December 5th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company’s stock. Bank of New York Mellon currently has an average rating of “Hold” and a consensus target price of $56.76.
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Bank of New York Mellon Company Profile
The Bank of New York Mellon Corporation is an investments company. The Company operates businesses through two segments: Investment Management and Investment Services. The Company also has an Other segment, which includes the leasing portfolio, corporate treasury activities (including its investment securities portfolio), derivatives and other trading, corporate and bank-owned life insurance and renewable energy investments, and business exits.
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