Bradley Foster & Sargent Inc. CT Increases Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Bradley Foster & Sargent Inc. CT increased its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 0.3% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 95,637 shares of the bank’s stock after purchasing an additional 304 shares during the period. Bradley Foster & Sargent Inc. CT’s holdings in Bank of New York Mellon were worth $7,348,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. United Advisor Group LLC purchased a new stake in shares of Bank of New York Mellon in the third quarter worth about $595,000. Czech National Bank increased its holdings in Bank of New York Mellon by 4.9% during the 4th quarter. Czech National Bank now owns 157,645 shares of the bank’s stock worth $12,112,000 after acquiring an additional 7,316 shares during the period. Principal Financial Group Inc. lifted its stake in Bank of New York Mellon by 1.7% in the 3rd quarter. Principal Financial Group Inc. now owns 883,853 shares of the bank’s stock worth $63,514,000 after purchasing an additional 14,916 shares in the last quarter. Chase Investment Counsel Corp boosted its holdings in Bank of New York Mellon by 67.2% in the 3rd quarter. Chase Investment Counsel Corp now owns 83,530 shares of the bank’s stock valued at $6,002,000 after purchasing an additional 33,558 shares during the period. Finally, HighTower Advisors LLC grew its position 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 in the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Price Performance

Shares of Bank of New York Mellon stock opened at $87.20 on Friday. 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 Bank of New York Mellon Co. has a one year low of $52.64 and a one year high of $89.44. The business’s 50 day simple moving average is $81.87 and its two-hundred day simple moving average is $76.08. The stock has a market capitalization of $63.40 billion, a P/E ratio of 15.01, a price-to-earnings-growth ratio of 1.01 and a beta of 1.08.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings results on Wednesday, January 15th. The bank reported $1.72 EPS for the quarter, beating analysts’ consensus estimates of $1.54 by $0.18. The company had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.66 billion. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The firm’s revenue was up 11.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.28 EPS. Analysts forecast that The Bank of New York Mellon Co. will post 6.93 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. Stockholders of record on Monday, January 27th were issued a dividend of $0.47 per share. The ex-dividend date was Monday, January 27th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.16%. Bank of New York Mellon’s dividend payout ratio is currently 32.36%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Evercore ISI boosted their target price on Bank of New York Mellon from $79.00 to $83.00 and gave the stock an “in-line” rating in a research report on Thursday, January 16th. Barclays upped their price objective on shares of Bank of New York Mellon from $102.00 to $104.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Bank of America lifted their target price on shares of Bank of New York Mellon from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Keefe, Bruyette & Woods increased their price target on shares of Bank of New York Mellon from $87.00 to $96.00 and gave the stock an “outperform” rating in a report on Tuesday, December 3rd. Finally, Wells Fargo & Company lifted their price objective on shares of Bank of New York Mellon from $82.00 to $86.00 and gave the stock an “equal weight” rating in a report 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’s stock. Based on data from MarketBeat, Bank of New York Mellon presently has a consensus rating of “Moderate Buy” and an average target price of $88.00.

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.