Smith Moore & CO. Buys Shares of 4,038 The Bank of New York Mellon Co. (NYSE:BK)

Smith Moore & CO. bought a new stake in The Bank of New York Mellon Co. (NYSE:BK) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 4,038 shares of the bank’s stock, valued at approximately $310,000.

Several other institutional investors also recently modified their holdings of BK. Wescott Financial Advisory Group LLC bought a new stake in Bank of New York Mellon in the fourth quarter valued at about $207,000. Thoroughbred Financial Services LLC boosted its holdings in Bank of New York Mellon by 9.8% during the fourth quarter. Thoroughbred Financial Services LLC now owns 9,912 shares of the bank’s stock worth $761,000 after buying an additional 886 shares during the last quarter. Yoffe Investment Management LLC acquired a new position in shares of Bank of New York Mellon during the 4th quarter worth about $784,000. Pitcairn Co. increased its stake in shares of Bank of New York Mellon by 2.9% in the 4th quarter. Pitcairn Co. now owns 25,811 shares of the bank’s stock valued at $1,983,000 after acquiring an additional 732 shares during the last quarter. Finally, World Investment Advisors raised its position in shares of Bank of New York Mellon by 14.8% in the 4th quarter. World Investment Advisors now owns 41,833 shares of the bank’s stock valued at $3,214,000 after acquiring an additional 5,408 shares during the period. Institutional investors and hedge funds own 85.31% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on BK shares. Bank of America boosted their price target on shares of Bank of New York Mellon from $90.00 to $95.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Royal Bank of Canada reissued a “sector perform” rating and issued a $90.00 target price on shares of Bank of New York Mellon in a research note on Monday, March 17th. Wells Fargo & Company increased their price target on Bank of New York Mellon from $86.00 to $96.00 and gave the stock an “equal weight” rating in a report on Monday, March 3rd. Deutsche Bank Aktiengesellschaft lifted their price objective on Bank of New York Mellon from $94.00 to $98.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Finally, Morgan Stanley lowered their target price on Bank of New York Mellon from $99.00 to $98.00 and set an “overweight” rating for the company in a research note on Wednesday. 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.com, the company has an average rating of “Moderate Buy” and an average target price of $89.86.

Bank of New York Mellon Trading Down 8.4 %

Shares of NYSE:BK opened at $73.17 on Friday. The company’s 50-day moving average price is $84.98 and its two-hundred day moving average price is $80.02. The Bank of New York Mellon Co. has a one year low of $52.64 and a one year high of $90.34. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.69 and a quick ratio of 0.70. The stock has a market capitalization of $52.53 billion, a PE ratio of 12.59, a price-to-earnings-growth ratio of 0.97 and a beta of 1.03.

Bank of New York Mellon (NYSE:BK) last issued 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. The firm had revenue of $4.85 billion during the quarter, compared to analysts’ expectations 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 business’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.28 earnings per share. On average, equities analysts forecast that The Bank of New York Mellon Co. will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

The company 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 yield of 2.57%. Bank of New York Mellon’s payout ratio is 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.