2,858 Shares in The Bank of New York Mellon Co. (NYSE:BK) Purchased by Revolve Wealth Partners LLC

Revolve Wealth Partners LLC acquired a new stake in shares of The Bank of New York Mellon Co. (NYSE:BK) in the fourth quarter, HoldingsChannel.com reports. The firm acquired 2,858 shares of the bank’s stock, valued at approximately $220,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Studio Investment Management LLC boosted its position in shares of Bank of New York Mellon by 2.1% during the third quarter. Studio Investment Management LLC now owns 6,636 shares of the bank’s stock valued at $477,000 after buying an additional 134 shares during the last quarter. Stanley Laman Group Ltd. grew its stake in shares of Bank of New York Mellon by 2.2% in the third quarter. Stanley Laman Group Ltd. now owns 6,198 shares of the bank’s stock worth $445,000 after acquiring an additional 135 shares during the period. Grove Bank & Trust raised its holdings in shares of Bank of New York Mellon by 21.0% during the fourth quarter. Grove Bank & Trust now owns 779 shares of the bank’s stock valued at $60,000 after purchasing an additional 135 shares during the last quarter. Avidian Wealth Enterprises LLC lifted its position in Bank of New York Mellon by 2.0% during the third quarter. Avidian Wealth Enterprises LLC now owns 7,024 shares of the bank’s stock valued at $505,000 after purchasing an additional 137 shares during the period. Finally, Frank Rimerman Advisors LLC boosted its holdings in Bank of New York Mellon by 1.1% in the third quarter. Frank Rimerman Advisors LLC now owns 12,908 shares of the bank’s stock worth $928,000 after purchasing an additional 142 shares during the last quarter. 85.31% of the stock is currently owned by institutional investors.

Bank of New York Mellon Price Performance

Shares of Bank of New York Mellon stock opened at $86.52 on Wednesday. The company has a market capitalization of $62.90 billion, a price-to-earnings ratio of 14.89, a PEG ratio of 0.96 and a beta of 1.08. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.83. The stock’s 50-day simple moving average is $79.67 and its 200-day simple moving average is $73.44. The Bank of New York Mellon Co. has a 52 week low of $52.64 and a 52 week high of $86.69.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings results on Wednesday, January 15th. The bank reported $1.72 EPS for the quarter, topping 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 analysts’ expectations of $4.66 billion. During the same period in the previous year, the firm earned $1.28 EPS. The firm’s revenue was up 11.2% compared to the same quarter last year. As a group, analysts expect that The Bank of New York Mellon Co. will post 6.86 earnings per share for the current fiscal year.

Bank of New York Mellon Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on BK. Morgan Stanley boosted their target price on shares of Bank of New York Mellon from $90.00 to $97.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Keefe, Bruyette & Woods increased their target price on Bank of New York Mellon from $87.00 to $96.00 and gave the company an “outperform” rating in a report on Tuesday, December 3rd. JPMorgan Chase & Co. boosted their price target on Bank of New York Mellon from $69.00 to $77.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Wells Fargo & Company increased their price objective on shares of Bank of New York Mellon from $82.00 to $86.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 16th. Finally, Barclays boosted their target price on shares of 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. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, Bank of New York Mellon currently has an average rating of “Moderate Buy” and an average target price of $88.00.

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.