Gladstone Institutional Advisory LLC Acquires Shares of 16,654 The Bank of New York Mellon Co. (NYSE:BK)

Gladstone Institutional Advisory LLC acquired a new stake in The Bank of New York Mellon Co. (NYSE:BK) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 16,654 shares of the bank’s stock, valued at approximately $1,280,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. McClarren Financial Advisors Inc. grew its holdings in Bank of New York Mellon by 586.4% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 405 shares of the bank’s stock valued at $29,000 after purchasing an additional 346 shares during the last quarter. Fortitude Family Office LLC boosted its position in shares of Bank of New York Mellon by 130.6% during the third quarter. Fortitude Family Office LLC now owns 611 shares of the bank’s stock valued at $44,000 after buying an additional 346 shares during the period. Ashton Thomas Securities LLC bought a new position in shares of Bank of New York Mellon during the third quarter valued at approximately $46,000. Modus Advisors LLC purchased a new stake in shares of Bank of New York Mellon in the fourth quarter worth approximately $49,000. Finally, Concord Wealth Partners lifted its stake in shares of Bank of New York Mellon by 150.5% during the 3rd quarter. Concord Wealth Partners now owns 754 shares of the bank’s stock worth $54,000 after acquiring an additional 453 shares during the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Trading Up 1.9 %

BK opened at $86.95 on Friday. The company has a current ratio of 0.69, a quick ratio of 0.70 and a debt-to-equity ratio of 0.83. The firm has a market cap of $63.22 billion, a price-to-earnings ratio of 14.97, a PEG ratio of 0.98 and a beta of 1.08. The Bank of New York Mellon Co. has a 12 month low of $52.64 and a 12 month high of $87.70. The stock has a fifty day moving average price of $80.97 and a 200-day moving average price of $75.18.

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, topping analysts’ consensus estimates of $1.54 by $0.18. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The business had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.66 billion. During the same period in the previous year, the company posted $1.28 earnings per share. The firm’s revenue was up 11.2% on a year-over-year basis. As a group, equities research analysts anticipate that The Bank of New York Mellon Co. will post 6.89 earnings per share for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Monday, January 27th were issued a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 2.16%. The ex-dividend date of this dividend was Monday, January 27th. Bank of New York Mellon’s dividend payout ratio is currently 32.36%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on BK shares. Truist Financial upped their price objective on Bank of New York Mellon from $91.00 to $93.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Wolfe Research cut shares of Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. Wells Fargo & Company lifted their price objective on shares of Bank of New York Mellon from $82.00 to $86.00 and gave the company an “equal weight” rating in a report on Thursday, January 16th. Evercore ISI raised their target price on shares of 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. Finally, Deutsche Bank Aktiengesellschaft lifted their price target 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 analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, Bank of New York Mellon currently has a consensus rating of “Moderate Buy” and a consensus price target of $88.00.

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.