Y Intercept Hong Kong Ltd Invests $1.25 Million in The Bank of New York Mellon Co. (NYSE:BK)

Y Intercept Hong Kong Ltd bought a new position in shares of The Bank of New York Mellon Co. (NYSE:BK) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 16,221 shares of the bank’s stock, valued at approximately $1,246,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Arkadios Wealth Advisors bought a new stake in Bank of New York Mellon in the third quarter valued at about $339,000. PFG Investments LLC increased its holdings in Bank of New York Mellon by 15.7% in the third quarter. PFG Investments LLC now owns 5,424 shares of the bank’s stock valued at $390,000 after buying an additional 735 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in Bank of New York Mellon by 39.4% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 89,421 shares of the bank’s stock valued at $6,426,000 after buying an additional 25,294 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in Bank of New York Mellon by 67.8% in the third quarter. Nisa Investment Advisors LLC now owns 132,496 shares of the bank’s stock valued at $9,521,000 after buying an additional 53,534 shares during the last quarter. Finally, Pallas Capital Advisors LLC increased its holdings in Bank of New York Mellon by 6.5% in the third quarter. Pallas Capital Advisors LLC now owns 5,426 shares of the bank’s stock valued at $415,000 after buying an additional 331 shares during the last quarter. 85.31% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on BK. Morgan Stanley boosted their price objective on Bank of New York Mellon from $90.00 to $97.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Bank of America boosted their price objective on Bank of New York Mellon from $90.00 to $95.00 and gave the company a “buy” rating in a report on Thursday, January 16th. StockNews.com lowered Bank of New York Mellon from a “buy” rating to a “hold” rating in a report on Wednesday, February 19th. Barclays upped their target price on 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. Finally, UBS Group upped their target price on Bank of New York Mellon from $88.00 to $94.00 and gave the company a “buy” rating in a report on Tuesday, January 21st. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $88.00.

Bank of New York Mellon Stock Performance

Shares of NYSE BK opened at $86.23 on Thursday. The company has a current ratio of 0.69, a quick ratio of 0.70 and a debt-to-equity ratio of 0.83. The stock has a 50 day simple moving average of $82.59 and a 200-day simple moving average of $76.86. The company has a market cap of $62.70 billion, a PE ratio of 14.84, a P/E/G ratio of 0.97 and a beta of 1.08. The Bank of New York Mellon Co. has a 12-month low of $52.64 and a 12-month high of $89.44.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings data 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. The business had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.66 billion. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. The business’s revenue was up 11.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.28 earnings per share. On average, equities 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 Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Monday, January 27th were given a $0.47 dividend. The ex-dividend date was Monday, January 27th. This represents a $1.88 dividend on an annualized basis and a yield of 2.18%. Bank of New York Mellon’s dividend payout ratio (DPR) is 32.36%.

Bank of New York Mellon Profile

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.