The Bank of New York Mellon Co. (NYSE:BK) Shares Purchased by Great Lakes Advisors LLC

Great Lakes Advisors LLC raised its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 1.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 38,734 shares of the bank’s stock after purchasing an additional 639 shares during the period. Great Lakes Advisors LLC’s holdings in Bank of New York Mellon were worth $2,976,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Assetmark Inc. raised its position in shares of Bank of New York Mellon by 64.7% during the 3rd quarter. Assetmark Inc. now owns 1,869 shares of the bank’s stock worth $134,000 after buying an additional 734 shares in the last quarter. Sigma Planning Corp raised its position in shares of Bank of New York Mellon by 2.7% during the 3rd quarter. Sigma Planning Corp now owns 5,470 shares of the bank’s stock worth $393,000 after buying an additional 143 shares in the last quarter. Venturi Wealth Management LLC raised its position in shares of Bank of New York Mellon by 21.5% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,147 shares of the bank’s stock worth $82,000 after buying an additional 203 shares in the last quarter. Apollon Wealth Management LLC raised its position in shares of Bank of New York Mellon by 4.7% during the 3rd quarter. Apollon Wealth Management LLC now owns 18,868 shares of the bank’s stock worth $1,356,000 after buying an additional 840 shares in the last quarter. Finally, Aptus Capital Advisors LLC raised its position in shares of Bank of New York Mellon by 4.2% during the 3rd quarter. Aptus Capital Advisors LLC now owns 6,665 shares of the bank’s stock worth $479,000 after buying an additional 271 shares in the last quarter. 85.31% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently commented on BK. UBS Group boosted their target price on shares of Bank of New York Mellon from $88.00 to $94.00 and gave the stock a “buy” rating in a report on Tuesday, January 21st. StockNews.com downgraded shares of Bank of New York Mellon from a “buy” rating to a “hold” rating in a report on Wednesday, February 19th. Barclays boosted 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 report on Thursday, January 16th. Wolfe Research downgraded shares of Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. Finally, Bank of America boosted their target price on shares of Bank of New York Mellon from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $88.71.

Bank of New York Mellon Stock Performance

Shares of BK opened at $81.87 on Friday. The company has a market capitalization of $58.78 billion, a PE ratio of 14.09, a PEG ratio of 0.97 and a beta of 1.06. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.70 and a current ratio of 0.69. The company’s 50 day moving average price is $84.30 and its 200 day moving average price is $78.40. The Bank of New York Mellon Co. has a 52 week low of $52.64 and a 52 week high of $90.34.

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, beating the consensus estimate of $1.54 by $0.18. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The business 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 company posted $1.28 EPS. Bank of New York Mellon’s revenue was up 11.2% on a year-over-year basis. Research analysts expect that The Bank of New York Mellon Co. will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Monday, January 27th were paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.30%. 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%.

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.