Accurate Wealth Management LLC purchased a new position in shares of The Bank of New York Mellon Co. (NYSE:BK – Get Rating) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 3,574 shares of the bank’s stock, valued at approximately $172,000.
A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. grew its stake in Bank of New York Mellon by 1.8% in the 3rd quarter. Vanguard Group Inc. now owns 67,626,336 shares of the bank’s stock valued at $2,604,967,000 after buying an additional 1,183,130 shares during the last quarter. Dodge & Cox grew its stake in Bank of New York Mellon by 1.5% in the 2nd quarter. Dodge & Cox now owns 58,774,502 shares of the bank’s stock valued at $2,451,484,000 after buying an additional 883,395 shares during the last quarter. Artisan Partners Limited Partnership grew its stake in Bank of New York Mellon by 16.4% in the 2nd quarter. Artisan Partners Limited Partnership now owns 21,915,465 shares of the bank’s stock valued at $914,094,000 after buying an additional 3,087,942 shares during the last quarter. Victory Capital Management Inc. grew its stake in Bank of New York Mellon by 13.8% in the 3rd quarter. Victory Capital Management Inc. now owns 9,278,963 shares of the bank’s stock valued at $357,425,000 after buying an additional 1,127,786 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in Bank of New York Mellon by 149.6% in the 2nd quarter. Goldman Sachs Group Inc. now owns 8,104,949 shares of the bank’s stock valued at $338,058,000 after buying an additional 4,857,962 shares during the last quarter. 82.29% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of research firms recently issued reports on BK. Morgan Stanley raised their target price 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. Barclays increased their price target on shares of Bank of New York Mellon from $57.00 to $64.00 and gave the company an “overweight” rating in a report on Tuesday, January 3rd. Citigroup increased their price target on shares of Bank of New York Mellon from $50.00 to $55.00 in a report on Friday, December 9th. The Goldman Sachs Group raised shares of Bank of New York Mellon from a “neutral” rating to a “buy” rating and set a $59.00 price target for the company in a report on Wednesday, January 4th. Finally, Wolfe Research raised shares of Bank of New York Mellon from a “peer perform” rating to an “outperform” rating and set a $60.00 price target for the company in a report on Wednesday, January 4th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Bank of New York Mellon has a consensus rating of “Hold” and a consensus price target of $52.19.
Bank of New York Mellon Price Performance
Bank of New York Mellon (NYSE:BK – Get Rating) last announced its earnings results on Friday, January 13th. The bank reported $1.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.22 by $0.08. The business had revenue of $3.92 billion during the quarter, compared to analysts’ expectations of $4.12 billion. Bank of New York Mellon had a net margin of 12.87% and a return on equity of 10.78%. The firm’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same quarter last year, the company posted $1.04 EPS. As a group, equities research analysts anticipate that The Bank of New York Mellon Co. will post 4.83 earnings per share for the current fiscal year.
Bank of New York Mellon Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, February 3rd. Investors of record on Monday, January 23rd were given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.48%. The ex-dividend date of this dividend was Friday, January 20th. Bank of New York Mellon’s dividend payout ratio (DPR) 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.
Recommended Stories
- Get a free copy of the StockNews.com research report on Bank of New York Mellon (BK)
- MarketBeat Week in Review – 3/13 – 3/17
- This Small Tech With Big Growth Prospects Is Nearing A Buy Point
- Don’t Chase FedEx Higher, Wait For The Pullback
- 3 Stocks For A Defensive Tech Portfolio
- Milk the Dividends on These 3 Cash Cows
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.
