The Bank of New York Mellon Co. (NYSE:BK) Shares Acquired by IVC Wealth Advisors LLC

IVC Wealth Advisors LLC grew its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 2.3% in the 4th quarter, HoldingsChannel reports. The firm owned 7,475 shares of the bank’s stock after acquiring an additional 167 shares during the quarter. IVC Wealth Advisors LLC’s holdings in Bank of New York Mellon were worth $574,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Donoghue Forlines LLC purchased a new stake in Bank of New York Mellon in the 4th quarter worth about $3,555,000. Avior Wealth Management LLC boosted its holdings in shares of Bank of New York Mellon by 33.4% during the fourth quarter. Avior Wealth Management LLC now owns 5,940 shares of the bank’s stock worth $456,000 after purchasing an additional 1,488 shares during the period. Endeavor Private Wealth Inc. purchased a new position in Bank of New York Mellon during the fourth quarter valued at approximately $204,000. Bill Few Associates Inc. increased its stake in Bank of New York Mellon by 75.4% in the 4th quarter. Bill Few Associates Inc. now owns 5,917 shares of the bank’s stock valued at $455,000 after buying an additional 2,543 shares during the period. Finally, Teamwork Financial Advisors LLC purchased a new stake in Bank of New York Mellon in the 4th quarter worth approximately $2,841,000. Institutional investors and hedge funds own 85.31% of the company’s stock.

Bank of New York Mellon Stock Up 0.5 %

NYSE BK opened at $84.75 on Friday. The Bank of New York Mellon Co. has a twelve month low of $52.64 and a twelve month high of $85.81. The stock has a market cap of $61.62 billion, a PE ratio of 14.59, a PEG ratio of 0.97 and a beta of 1.08. The firm has a 50-day simple moving average of $79.23 and a 200 day simple moving average of $72.82. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.70 and a current ratio of 0.69.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings data on Wednesday, January 15th. The bank reported $1.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 return on equity of 12.68% and a net margin of 11.35%. During the same period in the previous year, the business posted $1.28 earnings per share. Bank of New York Mellon’s quarterly revenue was up 11.2% on a year-over-year basis. On average, research analysts forecast 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 firm 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. This represents a $1.88 annualized dividend and a yield of 2.22%. The ex-dividend date is Monday, January 27th. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 32.36%.

Wall Street Analysts Forecast Growth

BK has been the topic of a number of research reports. Bank of America upped their price target on shares of Bank of New York Mellon from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Deutsche Bank Aktiengesellschaft lifted their price target on Bank of New York Mellon from $94.00 to $98.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Morgan Stanley increased their price objective on Bank of New York Mellon from $90.00 to $97.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. JPMorgan Chase & Co. boosted 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 report on Monday, October 7th. Finally, Wells Fargo & Company raised their price target on shares of 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. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $88.00.

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.