Donoghue Forlines LLC Makes New Investment in The Bank of New York Mellon Co. (NYSE:BK)

Donoghue Forlines LLC acquired a new position in The Bank of New York Mellon Co. (NYSE:BK) in the 4th quarter, HoldingsChannel.com reports. The fund acquired 46,265 shares of the bank’s stock, valued at approximately $3,555,000. Bank of New York Mellon makes up 1.2% of Donoghue Forlines LLC’s investment portfolio, making the stock its 8th largest holding.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. McClarren Financial Advisors Inc. boosted its stake in Bank of New York Mellon by 586.4% during the third quarter. McClarren Financial Advisors Inc. now owns 405 shares of the bank’s stock valued at $29,000 after buying an additional 346 shares during the period. Fortitude Family Office LLC increased its position in shares of Bank of New York Mellon by 130.6% in the third quarter. Fortitude Family Office LLC now owns 611 shares of the bank’s stock valued at $44,000 after acquiring an additional 346 shares during the period. Grove Bank & Trust boosted its holdings in shares of Bank of New York Mellon by 28.8% during the third quarter. Grove Bank & Trust now owns 644 shares of the bank’s stock worth $46,000 after purchasing an additional 144 shares during the period. Ashton Thomas Securities LLC bought a new stake in shares of Bank of New York Mellon in the third quarter worth about $46,000. Finally, Modus Advisors LLC purchased a new position in Bank of New York Mellon during the 4th quarter valued at about $49,000. Institutional investors own 85.31% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on BK. 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. Morgan Stanley boosted their price target on shares of Bank of New York Mellon from $90.00 to $97.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. JPMorgan Chase & Co. raised their target price on Bank of New York Mellon from $69.00 to $77.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Wolfe Research lowered Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Bank of New York Mellon from $94.00 to $98.00 and gave the company a “buy” rating in a research note 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $88.00.

Bank of New York Mellon Price Performance

BK stock opened at $84.38 on Thursday. The Bank of New York Mellon Co. has a 12 month low of $52.64 and a 12 month high of $85.81. The stock has a market cap of $61.35 billion, a PE ratio of 14.53, a P/E/G ratio of 0.97 and a beta of 1.08. The company has a 50-day moving average price of $79.23 and a 200 day moving average price of $72.82. The company has a current ratio of 0.69, a quick ratio of 0.70 and a debt-to-equity ratio of 0.83.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings results on Wednesday, January 15th. The bank reported $1.72 EPS for the quarter, beating the consensus estimate of $1.54 by $0.18. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. The firm had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.66 billion. During the same quarter last year, the firm posted $1.28 earnings per share. The business’s revenue for the quarter was up 11.2% on a year-over-year basis. Equities research analysts anticipate that The Bank of New York Mellon Co. will post 6.86 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Monday, January 27th will be issued 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 yield of 2.23%. Bank of New York Mellon’s dividend payout ratio is currently 32.36%.

About Bank of New York Mellon

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.