AlphaQuest LLC Invests $1.20 Million in The Bank of New York Mellon Co. (NYSE:BK)

AlphaQuest LLC acquired a new position in shares of The Bank of New York Mellon Co. (NYSE:BK) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 15,570 shares of the bank’s stock, valued at approximately $1,196,000.

Several other hedge funds and other institutional investors also recently modified their holdings of BK. Centricity Wealth Management LLC purchased a new position in shares of Bank of New York Mellon during the fourth quarter worth about $39,000. Ashton Thomas Securities LLC purchased a new position in shares of Bank of New York Mellon during the third quarter worth about $46,000. Modus Advisors LLC purchased a new position in shares of Bank of New York Mellon during the fourth quarter worth about $49,000. Friedenthal Financial purchased a new stake in Bank of New York Mellon in the fourth quarter worth approximately $56,000. Finally, Asset Dedication LLC boosted its stake in Bank of New York Mellon by 342.1% in the fourth quarter. Asset Dedication LLC now owns 756 shares of the bank’s stock worth $58,000 after buying an additional 585 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 $85.98 on Monday. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.83. The company has a market cap of $61.73 billion, a PE ratio of 14.80, a P/E/G ratio of 0.97 and a beta of 1.06. The business has a 50 day moving average of $83.85 and a 200 day moving average of $78.03. The Bank of New York Mellon Co. has a 52 week low of $52.64 and a 52 week high of $90.34.

Bank of New York Mellon (NYSE:BK) last announced its 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 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 firm’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.28 earnings per share. As a group, equities research analysts forecast that The Bank of New York Mellon Co. will post 6.96 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 7th. Investors 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 2.19%. Bank of New York Mellon’s dividend payout ratio is presently 32.36%.

Wall Street Analyst Weigh In

BK has been the subject of several research reports. StockNews.com lowered Bank of New York Mellon from a “buy” rating to a “hold” rating in a research note on Wednesday, February 19th. Citigroup upped their target price on Bank of New York Mellon from $75.00 to $82.00 and gave the stock a “neutral” rating in a research note on Monday, November 25th. Keefe, Bruyette & Woods upped 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. Barclays upped their target price 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, January 16th. Finally, UBS Group increased their price objective on 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. Six 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, the company has a consensus rating of “Moderate Buy” and an average price target of $88.71.

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.