Sequoia Financial Advisors LLC Buys Shares of 12,033 The Bank of New York Mellon Co. (NYSE:BK)

Sequoia Financial Advisors LLC acquired a new stake in The Bank of New York Mellon Co. (NYSE:BK – Get Rating) in the 4th quarter, Holdings Channel.com reports. The fund acquired 12,033 shares of the bank’s stock, valued at approximately $548,000.

Other large investors have also recently added to or reduced their stakes in the company. Hazlett Burt & Watson Inc. increased its position in Bank of New York Mellon by 132.2% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 692 shares of the bank’s stock worth $26,000 after buying an additional 394 shares during the period. Nelson Van Denburg & Campbell Wealth Management Group LLC acquired a new position in shares of Bank of New York Mellon in the third quarter valued at approximately $26,000. Brown Brothers Harriman & Co. raised its stake in shares of Bank of New York Mellon by 97.1% during the first quarter. Brown Brothers Harriman & Co. now owns 609 shares of the bank’s stock valued at $30,000 after acquiring an additional 300 shares during the last quarter. Gradient Investments LLC lifted its holdings in Bank of New York Mellon by 74.0% during the 3rd quarter. Gradient Investments LLC now owns 802 shares of the bank’s stock worth $31,000 after buying an additional 341 shares during the period. Finally, FinTrust Capital Advisors LLC acquired a new position in shares of Bank of New York Mellon in the third quarter worth approximately $32,000. Institutional investors own 82.29% of the company’s stock.

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Bank of New York Mellon Stock Performance

NYSE:BK opened at $43.64 on Tuesday. The Bank of New York Mellon Co. has a 1 year low of $36.22 and a 1 year high of $53.63. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.66 and a quick ratio of 0.66. The business has a fifty day simple moving average of $48.96 and a two-hundred day simple moving average of $45.32. The company has a market capitalization of $34.90 billion, a P/E ratio of 15.05, a P/E/G ratio of 1.11 and a beta of 1.11.

Bank of New York Mellon (NYSE:BK – Get Rating) last announced its quarterly earnings data on Friday, January 13th. The bank reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.22 by $0.08. The business had revenue of $3.92 billion for the quarter, compared to analysts’ expectations of $4.12 billion. Bank of New York Mellon had a return on equity of 10.78% and a net margin of 12.87%. The firm’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same period in the previous year, the business posted $1.04 EPS. On average, analysts expect that The Bank of New York Mellon Co. will post 4.83 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 3rd. Investors of record on Monday, January 23rd were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 3.39%. The ex-dividend date was Friday, January 20th. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 51.03%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on BK. Wolfe Research upgraded 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 report on Wednesday, January 4th. StockNews.com initiated coverage on shares of Bank of New York Mellon in a research report on Thursday, March 16th. They set a “hold” rating for the company. The Goldman Sachs Group raised Bank of New York Mellon from a “neutral” rating to a “buy” rating and set a $59.00 target price on the stock in a research report on Wednesday, January 4th. Citigroup raised their price target on shares of Bank of New York Mellon from $50.00 to $55.00 in a research report on Friday, December 9th. Finally, Barclays upped their price objective on shares of Bank of New York Mellon from $57.00 to $64.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 3rd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $51.81.

About Bank of New York Mellon

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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.

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