Certuity LLC Raises Stock Position in The Bank of New York Mellon Co. (NYSE:BK)

Certuity LLC grew its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 9.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,736 shares of the bank’s stock after purchasing an additional 897 shares during the quarter. Certuity LLC’s holdings in Bank of New York Mellon were worth $825,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of BK. McClarren Financial Advisors Inc. boosted its position in Bank of New York Mellon by 586.4% during the third quarter. McClarren Financial Advisors Inc. now owns 405 shares of the bank’s stock worth $29,000 after acquiring an additional 346 shares during the last quarter. Fortitude Family Office LLC boosted its position in Bank of New York Mellon by 130.6% during the third quarter. Fortitude Family Office LLC now owns 611 shares of the bank’s stock worth $44,000 after acquiring an additional 346 shares during the last quarter. Modus Advisors LLC acquired a new stake in Bank of New York Mellon during the fourth quarter worth approximately $49,000. Ashton Thomas Securities LLC acquired a new stake in Bank of New York Mellon during the third quarter worth approximately $46,000. Finally, Grove Bank & Trust boosted its position in Bank of New York Mellon by 28.8% during the third quarter. Grove Bank & Trust now owns 644 shares of the bank’s stock worth $46,000 after acquiring an additional 144 shares during the last quarter. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. UBS Group raised their target price on shares of Bank of New York Mellon from $88.00 to $94.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. Deutsche Bank Aktiengesellschaft increased their price target on shares of Bank of New York Mellon from $94.00 to $98.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Bank of America increased their price target on shares of Bank of New York Mellon from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Wolfe Research downgraded shares of Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. Finally, Wells Fargo & Company increased their price target on shares of Bank of New York Mellon from $82.00 to $86.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 16th. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $88.00.

Bank of New York Mellon Stock Performance

Bank of New York Mellon stock opened at $85.56 on Wednesday. The Bank of New York Mellon Co. has a 12-month low of $52.64 and a 12-month high of $87.70. The company has a market capitalization of $62.21 billion, a price-to-earnings ratio of 14.73, a price-to-earnings-growth ratio of 0.98 and a beta of 1.08. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.69 and a quick ratio of 0.70. The firm’s fifty day moving average price is $80.77 and its 200 day moving average price is $74.97.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.66 billion. During the same quarter in the previous year, the firm posted $1.28 EPS. The firm’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 6.89 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Monday, January 27th were issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 2.20%. The ex-dividend date of this dividend was Monday, January 27th. Bank of New York Mellon’s dividend payout ratio is currently 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.