Optas LLC Buys 165 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Optas LLC lifted its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 5.4% in the fourth quarter, HoldingsChannel.com reports. The fund owned 3,203 shares of the bank’s stock after acquiring an additional 165 shares during the quarter. Optas LLC’s holdings in Bank of New York Mellon were worth $246,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. One Wealth Advisors LLC lifted its holdings in shares of Bank of New York Mellon by 5.1% in the 4th quarter. One Wealth Advisors LLC now owns 5,468 shares of the bank’s stock worth $420,000 after acquiring an additional 266 shares during the last quarter. Resonant Capital Advisors LLC grew its position in Bank of New York Mellon by 3.6% during the 4th quarter. Resonant Capital Advisors LLC now owns 4,646 shares of the bank’s stock worth $357,000 after acquiring an additional 162 shares during the last quarter. Catalina Capital Group LLC lifted its position in Bank of New York Mellon by 3.1% in the fourth quarter. Catalina Capital Group LLC now owns 7,006 shares of the bank’s stock valued at $538,000 after purchasing an additional 211 shares during the last quarter. Oregon Pacific Wealth Management LLC bought a new position in shares of Bank of New York Mellon in the fourth quarter worth approximately $219,000. Finally, Abner Herrman & Brock LLC raised its holdings in Bank of New York Mellon by 2.6% during the 4th quarter. Abner Herrman & Brock LLC now owns 27,175 shares of the bank’s stock valued at $2,088,000 after buying an additional 700 shares during the last quarter. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Bank of New York Mellon Trading Down 0.3 %

Shares of NYSE:BK opened at $84.90 on Wednesday. The Bank of New York Mellon Co. has a 1 year low of $52.64 and a 1 year high of $87.70. The stock’s fifty day moving average price is $80.37 and its 200-day moving average price is $74.19. The company has a market cap of $61.73 billion, a P/E ratio of 14.61, a PEG ratio of 0.98 and a beta of 1.08. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.69 and a quick ratio of 0.70.

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, topping analysts’ consensus estimates of $1.54 by $0.18. The firm 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 business’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.28 earnings per share. Sell-side analysts expect 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 company also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Monday, January 27th will be paid a $0.47 dividend. The ex-dividend date is Monday, January 27th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.21%. Bank of New York Mellon’s dividend payout ratio (DPR) is currently 32.36%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on BK. Royal Bank of Canada reissued a “sector perform” rating and issued a $79.00 target price on shares of Bank of New York Mellon in a research note on Monday, October 14th. Morgan Stanley boosted their price objective 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. Wells Fargo & Company raised 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. Barclays increased 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 report on Thursday, January 16th. Finally, Bank of America increased their price objective on Bank of New York Mellon from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $88.00.

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.