Crews Bank & Trust Purchases New Position in The Bank of New York Mellon Co. (NYSE:BK)

Crews Bank & Trust acquired a new position in shares of The Bank of New York Mellon Co. (NYSE:BK) in the 4th quarter, Holdings Channel.com reports. The firm acquired 2,916 shares of the bank’s stock, valued at approximately $224,000.

Other institutional investors also recently made changes to their positions in the company. Invesco LLC bought a new position in Bank of New York Mellon during the fourth quarter worth about $204,000. Swedbank AB increased its holdings in shares of Bank of New York Mellon by 9.9% during the fourth quarter. Swedbank AB now owns 797,764 shares of the bank’s stock worth $61,292,000 after purchasing an additional 71,900 shares during the period. McKinley Carter Wealth Services Inc. raised its position in shares of Bank of New York Mellon by 1.2% in the fourth quarter. McKinley Carter Wealth Services Inc. now owns 30,765 shares of the bank’s stock valued at $2,364,000 after buying an additional 352 shares in the last quarter. Smith Group Asset Management LLC bought a new stake in shares of Bank of New York Mellon in the fourth quarter valued at approximately $691,000. Finally, BOCHK Asset Management Ltd acquired a new stake in Bank of New York Mellon during the fourth quarter worth approximately $5,562,000. Institutional investors own 85.31% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Morgan Stanley upped their target price on Bank of New York Mellon from $90.00 to $97.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. JPMorgan Chase & Co. upped their price objective on shares of Bank of New York Mellon from $69.00 to $77.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Wolfe Research lowered shares of Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. Evercore ISI upped their price target on shares of Bank of New York Mellon from $79.00 to $83.00 and gave the stock an “in-line” rating in a report on Thursday, January 16th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $79.00 price objective on shares of Bank of New York Mellon in a research note on Monday, October 14th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $88.00.

Bank of New York Mellon Trading Up 0.6 %

Shares of BK stock opened at $86.54 on Friday. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.83. The firm has a market capitalization of $62.92 billion, a P/E ratio of 14.90, a P/E/G ratio of 0.96 and a beta of 1.08. The Bank of New York Mellon Co. has a twelve month low of $52.64 and a twelve month high of $87.70. The stock’s fifty day simple moving average is $80.02 and its 200 day simple moving average is $73.68.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings data on Wednesday, January 15th. The bank reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.18. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. The company had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.66 billion. During the same quarter in the prior year, the firm posted $1.28 earnings per share. The firm’s revenue was up 11.2% compared to the same quarter last year. As a group, sell-side analysts predict that The Bank of New York Mellon Co. will post 6.86 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Monday, January 27th will be issued a dividend of $0.47 per share. The ex-dividend date of this dividend is Monday, January 27th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.17%. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 32.36%.

About Bank of New York Mellon

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.