Ergoteles LLC acquired a new position in The Bank of New York Mellon Co. (NYSE:BK – Get Rating) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 22,759 shares of the bank’s stock, valued at approximately $877,000.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brown Brothers Harriman & Co. raised its position in Bank of New York Mellon by 97.1% in the 1st quarter. Brown Brothers Harriman & Co. now owns 609 shares of the bank’s stock worth $30,000 after purchasing an additional 300 shares during the period. Nelson Van Denburg & Campbell Wealth Management Group LLC bought a new position in Bank of New York Mellon in the 3rd quarter worth about $26,000. Hazlett Burt & Watson Inc. grew its stake in Bank of New York Mellon by 132.2% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 692 shares of the bank’s stock worth $26,000 after acquiring an additional 394 shares in the last quarter. Rock Creek Group LP grew its stake in Bank of New York Mellon by 273.8% in the 2nd quarter. Rock Creek Group LP now owns 729 shares of the bank’s stock worth $30,000 after acquiring an additional 534 shares in the last quarter. Finally, FinTrust Capital Advisors LLC bought a new position in Bank of New York Mellon in the 3rd quarter worth about $32,000. 82.29% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
BK has been the topic of a number of research analyst reports. Wolfe Research upgraded shares of Bank of New York Mellon from a “peer perform” rating to an “outperform” rating and set a $60.00 target price on the stock in a research note on Wednesday, January 4th. Barclays upped their target price on shares of Bank of New York Mellon from $57.00 to $64.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 3rd. The Goldman Sachs Group upgraded shares of Bank of New York Mellon from a “neutral” rating to a “buy” rating and set a $59.00 price objective on the stock in a research note on Wednesday, January 4th. Morgan Stanley increased their price objective on shares of Bank of New York Mellon from $47.00 to $49.00 and gave the company an “underweight” rating in a research note on Wednesday, February 1st. Finally, Bank of America initiated coverage on shares of Bank of New York Mellon in a research note on Thursday, January 12th. They set a “buy” rating and a $56.00 price objective on the stock. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $52.19.
Bank of New York Mellon Trading Up 0.3 %
Bank of New York Mellon (NYSE:BK – Get Rating) last posted its earnings results on Friday, January 13th. The bank reported $1.30 EPS for the quarter, beating analysts’ consensus estimates of $1.22 by $0.08. Bank of New York Mellon had a net margin of 12.87% and a return on equity of 10.78%. The company had revenue of $3.92 billion during the quarter, compared to analysts’ expectations of $4.12 billion. During the same quarter in the prior year, the company posted $1.04 earnings per share. Bank of New York Mellon’s revenue for the quarter was down 2.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Bank of New York Mellon Co. will post 4.79 earnings per share for the current fiscal year.
Bank of New York Mellon Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, February 3rd. Shareholders of record on Monday, January 23rd were issued a $0.37 dividend. The ex-dividend date was Friday, January 20th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.93%. Bank of New York Mellon’s dividend payout ratio is currently 51.03%.
Bank of New York Mellon Company Profile
The Bank of New York Mellon Corp. is a bank holding company, which engages in the provision of financial services. It operates through the following segments: Securities Services, Market and Wealth Services, Investment and Wealth Management, and Other segment. The Securities Services segment includes Asset Servicing business, which provides global custody, fund accounting, integrated middle-office solutions, transfer agency and data and analytics solutions.
Read More
- Get a free copy of the StockNews.com research report on Bank of New York Mellon (BK)
- MarketBeat Week in Review – 2/20 – 2/24
- Carvana Skidding On Revenue Decrease, Heavy Debt Burden
- What Are Consumer Staples Stocks?
- Is Rocky Brands Dividend A Good Fit For Your Portfolio?
- Beyond Meat Stock Is Not Beyond Hope
Receive News & Ratings for Bank of New York Mellon Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bank of New York Mellon and related companies with MarketBeat.com's FREE daily email newsletter.
