McGlone Suttner Wealth Management Inc. Buys Shares of 4,905 The Bank of New York Mellon Co. (NYSE:BK)

McGlone Suttner Wealth Management Inc. purchased a new position in shares of The Bank of New York Mellon Co. (NYSE:BK) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 4,905 shares of the bank’s stock, valued at approximately $255,000.

A number of other hedge funds also recently modified their holdings of the business. Ritholtz Wealth Management lifted its holdings in shares of Bank of New York Mellon by 10.6% during the fourth quarter. Ritholtz Wealth Management now owns 23,937 shares of the bank’s stock worth $1,246,000 after purchasing an additional 2,289 shares during the period. Next Level Private LLC acquired a new position in shares of Bank of New York Mellon during the fourth quarter worth $237,000. IFG Advisory LLC lifted its holdings in shares of Bank of New York Mellon by 62.7% during the fourth quarter. IFG Advisory LLC now owns 92,355 shares of the bank’s stock worth $4,807,000 after purchasing an additional 35,582 shares during the period. Tectonic Advisors LLC lifted its holdings in shares of Bank of New York Mellon by 18.2% during the fourth quarter. Tectonic Advisors LLC now owns 7,620 shares of the bank’s stock worth $397,000 after purchasing an additional 1,172 shares during the period. Finally, Abundance Wealth Counselors acquired a new position in shares of Bank of New York Mellon during the fourth quarter worth $240,000. Institutional investors and hedge funds own 85.31% of the company’s stock.

Bank of New York Mellon Stock Up 1.2 %

Bank of New York Mellon stock traded up $0.70 during midday trading on Thursday, hitting $57.63. 3,116,276 shares of the stock were exchanged, compared to its average volume of 4,036,419. The Bank of New York Mellon Co. has a 52-week low of $39.65 and a 52-week high of $57.88. The stock has a market capitalization of $43.39 billion, a price-to-earnings ratio of 14.52, a price-to-earnings-growth ratio of 1.20 and a beta of 1.11. The business’s 50-day moving average price is $55.42 and its 200-day moving average price is $49.80. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.87.

Bank of New York Mellon (NYSE:BK) last released its earnings results on Friday, January 12th. The bank reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.16. The firm had revenue of $4.31 billion for the quarter, compared to analysts’ expectations of $4.30 billion. Bank of New York Mellon had a net margin of 10.01% and a return on equity of 11.63%. The company’s quarterly revenue was up 10.0% on a year-over-year basis. During the same period in the previous year, the company earned $1.30 earnings per share. On average, research analysts expect that The Bank of New York Mellon Co. will post 5.26 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 2nd. Shareholders of record on Monday, January 22nd were paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date of this dividend was Friday, January 19th. Bank of New York Mellon’s payout ratio is 42.32%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on BK shares. JPMorgan Chase & Co. upgraded shares of Bank of New York Mellon from a “neutral” rating to an “overweight” rating and set a $54.50 target price on the stock in a report on Monday, December 18th. Royal Bank of Canada restated a “sector perform” rating and issued a $58.00 target price on shares of Bank of New York Mellon in a report on Wednesday. UBS Group boosted their target price on shares of Bank of New York Mellon from $54.00 to $62.00 and gave the company a “buy” rating in a report on Tuesday, January 9th. Morgan Stanley upgraded shares of Bank of New York Mellon from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $52.00 to $62.00 in a report on Tuesday, January 30th. Finally, Citigroup boosted their target price on shares of Bank of New York Mellon from $60.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, February 14th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $55.65.

Insider Buying and Selling at Bank of New York Mellon

In related news, VP Hanneke Smits sold 15,425 shares of the company’s stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $55.16, for a total transaction of $850,843.00. Following the sale, the vice president now directly owns 119,656 shares in the company, valued at approximately $6,600,224.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, VP Hanneke Smits sold 15,425 shares of the company’s stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $55.16, for a total transaction of $850,843.00. Following the sale, the vice president now directly owns 119,656 shares in the company, valued at approximately $6,600,224.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Catherine Keating sold 4,498 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $54.81, for a total transaction of $246,535.38. Following the sale, the vice president now owns 123,490 shares in the company, valued at $6,768,486.90. The disclosure for this sale can be found here. Corporate insiders own 0.14% of the company’s stock.

Bank of New York Mellon Company 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.