Ritholtz Wealth Management Has $1.99 Million Position in The Bank of New York Mellon Co. (NYSE:BK)

Ritholtz Wealth Management lifted its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 10.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 27,643 shares of the bank’s stock after purchasing an additional 2,718 shares during the quarter. Ritholtz Wealth Management’s holdings in Bank of New York Mellon were worth $1,986,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Olistico Wealth LLC bought a new stake in Bank of New York Mellon in the 2nd quarter valued at $30,000. Clearstead Trust LLC acquired a new stake in shares of Bank of New York Mellon during the 2nd quarter worth $32,000. Kathleen S. Wright Associates Inc. acquired a new stake in shares of Bank of New York Mellon during the 1st quarter worth $32,000. Able Wealth Management LLC acquired a new stake in shares of Bank of New York Mellon during the 4th quarter worth $32,000. Finally, Family Firm Inc. acquired a new stake in Bank of New York Mellon in the second quarter valued at about $40,000. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BK has been the topic of several research analyst reports. Morgan Stanley raised their price objective on Bank of New York Mellon from $72.00 to $78.00 and gave the company an “equal weight” rating in a research note on Monday, September 30th. Evercore ISI raised their target price on Bank of New York Mellon from $61.00 to $66.00 and gave the stock an “in-line” rating in a research note on Monday, July 15th. The Goldman Sachs Group raised their price objective on Bank of New York Mellon from $74.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. UBS Group lifted their target price on Bank of New York Mellon from $73.00 to $82.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $75.00 target price (up previously from $70.00) on shares of Bank of New York Mellon in a research report on Monday, July 15th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Bank of New York Mellon presently has a consensus rating of “Moderate Buy” and an average target price of $72.92.

Bank of New York Mellon Price Performance

NYSE:BK opened at $74.15 on Monday. The business’s 50-day moving average is $68.37 and its 200 day moving average is $62.46. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.85. The Bank of New York Mellon Co. has a 12 month low of $39.66 and a 12 month high of $76.15. The company has a market capitalization of $55.45 billion, a P/E ratio of 17.16, a P/E/G ratio of 1.16 and a beta of 1.08.

Bank of New York Mellon (NYSE:BK) last released its earnings results on Friday, October 11th. The bank reported $1.52 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $0.11. The firm had revenue of $4.65 billion for the quarter, compared to analysts’ expectations of $4.52 billion. Bank of New York Mellon had a return on equity of 11.87% and a net margin of 9.40%. On average, equities research analysts forecast that The Bank of New York Mellon Co. will post 5.66 earnings per share for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Monday, October 21st will be issued a dividend of $0.47 per share. The ex-dividend date of this dividend is Monday, October 21st. This represents a $1.88 annualized dividend and a dividend yield of 2.54%. Bank of New York Mellon’s dividend payout ratio is presently 43.52%.

Insider Activity at Bank of New York Mellon

In related news, VP Hanneke Smits sold 15,000 shares of the company’s stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $64.11, for a total value of $961,650.00. Following the transaction, the vice president now directly owns 173,930 shares of the company’s stock, valued at $11,150,652.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.14% of the stock is owned by insiders.

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.