MV Capital Management Inc. Boosts Stake in The Bank of New York Mellon Co. (NYSE:BK)

MV Capital Management Inc. raised its stake in The Bank of New York Mellon Co. (NYSE:BK) by 24.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,254 shares of the bank’s stock after buying an additional 639 shares during the period. MV Capital Management Inc.’s holdings in Bank of New York Mellon were worth $250,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also made changes to their positions in the company. Czech National Bank boosted its stake in Bank of New York Mellon by 4.9% in the fourth quarter. Czech National Bank now owns 157,645 shares of the bank’s stock valued at $12,112,000 after acquiring an additional 7,316 shares in the last quarter. HighTower Advisors LLC lifted its holdings in shares of Bank of New York Mellon by 130.1% during the 3rd quarter. HighTower Advisors LLC now owns 326,372 shares of the bank’s stock valued at $23,449,000 after purchasing an additional 184,560 shares during the last quarter. Fifth Third Bancorp boosted its position in shares of Bank of New York Mellon by 9.2% in the 4th quarter. Fifth Third Bancorp now owns 94,046 shares of the bank’s stock worth $7,226,000 after purchasing an additional 7,935 shares in the last quarter. Natixis Advisors LLC grew its stake in Bank of New York Mellon by 6.5% during the 4th quarter. Natixis Advisors LLC now owns 285,965 shares of the bank’s stock worth $21,971,000 after buying an additional 17,457 shares during the last quarter. Finally, Western Financial Corp CA acquired a new position in Bank of New York Mellon during the 4th quarter valued at about $342,000. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Barclays upped their price objective on shares of Bank of New York Mellon from $102.00 to $104.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. UBS Group upped their price target on shares of Bank of New York Mellon from $88.00 to $94.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. Wells Fargo & Company lifted their price objective on shares of Bank of New York Mellon from $86.00 to $96.00 and gave the stock an “equal weight” rating in a research note on Monday, March 3rd. 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. Finally, Keefe, Bruyette & Woods raised their target price on Bank of New York Mellon from $87.00 to $96.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 3rd. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $89.71.

Bank of New York Mellon Stock Down 2.1 %

BK stock opened at $82.67 on Friday. The Bank of New York Mellon Co. has a one year low of $52.64 and a one year high of $90.34. 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 firm’s fifty day moving average is $85.34 and its 200 day moving average is $79.53. The firm has a market cap of $59.35 billion, a PE ratio of 14.23, a P/E/G ratio of 0.97 and a beta of 1.06.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings data on Wednesday, January 15th. The bank reported $1.72 EPS for the quarter, beating analysts’ consensus estimates 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 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 earned $1.28 EPS. Bank of New York Mellon’s quarterly revenue was up 11.2% on a year-over-year basis. On average, research analysts forecast that The Bank of New York Mellon Co. will post 6.96 EPS for the current year.

Bank of New York Mellon Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Monday, January 27th were given a dividend of $0.47 per share. The ex-dividend date was Monday, January 27th. This represents a $1.88 annualized dividend and a dividend yield of 2.27%. Bank of New York Mellon’s dividend payout ratio 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.