Kestra Private Wealth Services LLC Buys 34,371 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Kestra Private Wealth Services LLC lifted its stake in The Bank of New York Mellon Co. (NYSE:BK) by 437.1% in the 4th quarter, Holdings Channel reports. The institutional investor owned 42,234 shares of the bank’s stock after acquiring an additional 34,371 shares during the period. Kestra Private Wealth Services LLC’s holdings in Bank of New York Mellon were worth $3,245,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Stephens Inc. AR increased its holdings in Bank of New York Mellon by 30.8% in the 4th quarter. Stephens Inc. AR now owns 91,132 shares of the bank’s stock valued at $7,002,000 after buying an additional 21,441 shares during the period. Stockman Wealth Management Inc. acquired a new stake in shares of Bank of New York Mellon during the 4th quarter valued at about $211,000. Quotient Wealth Partners LLC increased its stake in Bank of New York Mellon by 6.0% in the fourth quarter. Quotient Wealth Partners LLC now owns 3,030 shares of the bank’s stock valued at $233,000 after acquiring an additional 172 shares during the period. Empowered Funds LLC raised its position in Bank of New York Mellon by 743.6% in the fourth quarter. Empowered Funds LLC now owns 116,085 shares of the bank’s stock worth $8,919,000 after purchasing an additional 102,325 shares in the last quarter. Finally, Apollon Wealth Management LLC raised its position in Bank of New York Mellon by 16.2% in the fourth quarter. Apollon Wealth Management LLC now owns 21,927 shares of the bank’s stock worth $1,685,000 after purchasing an additional 3,059 shares in the last quarter. 85.31% of the stock is owned by institutional investors and hedge funds.

Bank of New York Mellon Stock Performance

BK stock opened at $84.99 on Tuesday. The stock has a market capitalization of $61.79 billion, a PE ratio of 14.63, a price-to-earnings-growth ratio of 0.98 and a beta of 1.08. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.69 and a quick ratio of 0.70. The company has a 50 day moving average price of $80.70 and a 200 day moving average price of $74.83. The Bank of New York Mellon Co. has a fifty-two week low of $52.64 and a fifty-two week high of $87.70.

Bank of New York Mellon (NYSE:BK) last released its earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share for the quarter, topping analysts’ consensus estimates of $1.54 by $0.18. The company had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.66 billion. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. The firm’s quarterly revenue was up 11.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.28 earnings per share. Analysts forecast that The Bank of New York Mellon Co. will post 6.89 EPS for the current year.

Bank of New York Mellon Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Monday, January 27th were paid a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 2.21%. The ex-dividend date of this dividend was Monday, January 27th. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 32.36%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Wolfe Research lowered Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. Wells Fargo & Company upped their price target on Bank of New York Mellon from $82.00 to $86.00 and gave the company an “equal weight” rating in a research report on Thursday, January 16th. StockNews.com cut Bank of New York Mellon from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. UBS Group boosted their target price on shares of Bank of New York Mellon from $88.00 to $94.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. Finally, Barclays increased their target price on shares of Bank of New York Mellon from $102.00 to $104.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $88.00.

About Bank of New York Mellon

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.