Wealthspire Advisors LLC Buys 144 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Wealthspire Advisors LLC raised its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 1.0% in the fourth quarter, HoldingsChannel.com reports. The firm owned 14,740 shares of the bank’s stock after purchasing an additional 144 shares during the quarter. Wealthspire Advisors LLC’s holdings in Bank of New York Mellon were worth $1,132,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Centricity Wealth Management LLC bought a new stake in shares of Bank of New York Mellon during the 4th quarter valued at about $39,000. Fortitude Family Office LLC lifted its stake in Bank of New York Mellon by 130.6% in the third quarter. Fortitude Family Office LLC now owns 611 shares of the bank’s stock valued at $44,000 after buying an additional 346 shares during the period. Ashton Thomas Securities LLC bought a new position in shares of Bank of New York Mellon during the 3rd quarter worth approximately $46,000. Modus Advisors LLC acquired a new stake in shares of Bank of New York Mellon during the 4th quarter worth approximately $49,000. Finally, Concord Wealth Partners grew its position in shares of Bank of New York Mellon by 150.5% during the 3rd quarter. Concord Wealth Partners now owns 754 shares of the bank’s stock worth $54,000 after buying an additional 453 shares during the period. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Stock Up 0.8 %

Shares of NYSE:BK opened at $87.97 on Tuesday. The business’s 50 day moving average is $82.21 and its 200 day moving average is $76.64. The Bank of New York Mellon Co. has a 12-month low of $52.64 and a 12-month high of $89.44. The stock has a market cap of $63.96 billion, a price-to-earnings ratio of 15.14, a PEG ratio of 0.98 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.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings data on Wednesday, January 15th. The bank reported $1.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.54 by $0.18. The firm had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.66 billion. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The business’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.28 EPS. On average, sell-side analysts forecast that The Bank of New York Mellon Co. will post 6.94 earnings per share for the current fiscal year.

Bank of New York Mellon Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Monday, January 27th were given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date was Monday, January 27th. Bank of New York Mellon’s payout ratio is 32.36%.

Analyst Ratings Changes

Several brokerages recently issued reports on BK. Deutsche Bank Aktiengesellschaft increased their target price on shares of Bank of New York Mellon from $94.00 to $98.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Citigroup increased their price objective on shares of Bank of New York Mellon from $75.00 to $82.00 and gave the stock a “neutral” rating in a research report on Monday, November 25th. Barclays boosted their target price on 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. Morgan Stanley increased their price target 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. Finally, StockNews.com downgraded Bank of New York Mellon from a “buy” rating to a “hold” rating in a report on Wednesday, February 19th. Six equities 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 has a consensus rating of “Moderate Buy” and a consensus price target 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.