Chemistry Wealth Management LLC Takes $205,000 Position in The Bank of New York Mellon Co. (NYSE:BK)

Chemistry Wealth Management LLC acquired a new position in The Bank of New York Mellon Co. (NYSE:BK) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 2,665 shares of the bank’s stock, valued at approximately $205,000.

A number of other hedge funds also recently bought and sold shares of BK. FMR LLC boosted its holdings in shares of Bank of New York Mellon by 78.6% in the 3rd quarter. FMR LLC now owns 19,338,722 shares of the bank’s stock valued at $1,389,680,000 after buying an additional 8,512,404 shares in the last quarter. Wellington Management Group LLP lifted its position in Bank of New York Mellon by 2,707.1% during the third quarter. Wellington Management Group LLP now owns 3,258,967 shares of the bank’s stock valued at $234,189,000 after acquiring an additional 3,142,869 shares during the last quarter. Marshall Wace LLP boosted its stake in Bank of New York Mellon by 99.4% in the second quarter. Marshall Wace LLP now owns 2,631,213 shares of the bank’s stock valued at $157,583,000 after acquiring an additional 1,311,969 shares in the last quarter. Zacks Investment Management purchased a new position in Bank of New York Mellon in the third quarter worth $62,589,000. Finally, State Street Corp increased its position in shares of Bank of New York Mellon by 2.0% during the third quarter. State Street Corp now owns 33,313,594 shares of the bank’s stock worth $2,393,915,000 after purchasing an additional 659,096 shares in the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Analyst Upgrades and Downgrades

BK has been the subject of a number of recent analyst reports. UBS Group raised their price objective on Bank of New York Mellon from $73.00 to $82.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Barclays boosted their price target on Bank of New York Mellon from $102.00 to $104.00 and gave the stock an “overweight” rating in a research note on Thursday. JPMorgan Chase & Co. increased their price objective on shares of Bank of New York Mellon from $69.00 to $77.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Wolfe Research downgraded shares of Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. Finally, StockNews.com lowered shares of Bank of New York Mellon from a “buy” rating to a “hold” rating in a research note on Thursday. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, Bank of New York Mellon currently has an average rating of “Moderate Buy” and an average price target of $87.14.

Bank of New York Mellon Price Performance

NYSE:BK opened at $83.31 on Friday. The firm has a market cap of $60.57 billion, a price-to-earnings ratio of 18.11, a price-to-earnings-growth ratio of 0.76 and a beta of 1.08. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.70 and a quick ratio of 0.70. The company has a 50 day moving average price of $78.74 and a 200-day moving average price of $72.08. The Bank of New York Mellon Co. has a 1-year low of $52.64 and a 1-year high of $83.67.

Bank of New York Mellon (NYSE:BK) last posted its 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. The business had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.66 billion. Bank of New York Mellon had a net margin of 9.44% and a return on equity of 12.06%. The company’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.28 EPS. Equities research analysts forecast that The Bank of New York Mellon Co. will post 5.87 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Monday, January 27th will be given a dividend of $0.47 per share. The ex-dividend date is Monday, January 27th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.26%. Bank of New York Mellon’s dividend payout ratio (DPR) is 40.87%.

Bank of New York Mellon Company 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.