Alerus Financial NA Makes New Investment in The Bank of New York Mellon Co. (NYSE:BK)

Alerus Financial NA acquired a new stake in The Bank of New York Mellon Co. (NYSE:BK - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 19,566 shares of the bank's stock, valued at approximately $1,503,000.

A number of other hedge funds have also made changes to their positions in BK. denkapparat Operations GmbH bought a new position in Bank of New York Mellon during the 4th quarter valued at $372,000. Pictet Asset Management Holding SA boosted its stake in Bank of New York Mellon by 12.0% during the fourth quarter. Pictet Asset Management Holding SA now owns 485,346 shares of the bank's stock valued at $37,289,000 after buying an additional 52,112 shares in the last quarter. New Age Alpha Advisors LLC grew its holdings in Bank of New York Mellon by 5,626.8% during the fourth quarter. New Age Alpha Advisors LLC now owns 14,546 shares of the bank's stock worth $1,118,000 after acquiring an additional 14,292 shares during the period. Norges Bank bought a new stake in Bank of New York Mellon in the fourth quarter worth about $1,150,462,000. Finally, Blair William & Co. IL lifted its holdings in Bank of New York Mellon by 3.9% in the 4th quarter. Blair William & Co. IL now owns 24,605 shares of the bank's stock valued at $1,890,000 after acquiring an additional 930 shares during the last quarter. Institutional investors and hedge funds own 85.31% of the company's stock.

Bank of New York Mellon Stock Down 0.2 %

Bank of New York Mellon stock traded down $0.18 during mid-day trading on Tuesday, hitting $83.69. 931,934 shares of the company's stock were exchanged, compared to its average volume of 3,888,188. The Bank of New York Mellon Co. has a 1-year low of $52.64 and a 1-year high of $90.34. The stock has a 50 day moving average of $85.35 and a two-hundred day moving average of $79.80. 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 stock has a market cap of $60.09 billion, a P/E ratio of 14.42, a P/E/G ratio of 0.97 and a beta of 1.06.

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Bank of New York Mellon (NYSE:BK - Get Free Report) last issued its quarterly earnings data on Wednesday, January 15th. The bank reported $1.72 EPS for the quarter, beating analysts' consensus estimates 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 business had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.66 billion. During the same quarter in the prior year, the firm posted $1.28 EPS. The firm's revenue for the quarter was up 11.2% on a year-over-year basis. As a group, analysts anticipate that The Bank of New York Mellon Co. will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

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 $0.47 dividend. The ex-dividend date was Monday, January 27th. This represents a $1.88 annualized dividend and a yield of 2.25%. Bank of New York Mellon's dividend payout ratio (DPR) is presently 32.36%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on BK. StockNews.com cut Bank of New York Mellon from a "buy" rating to a "hold" rating in a report on Wednesday, February 19th. Evercore ISI boosted their price objective on Bank of New York Mellon from $83.00 to $87.00 and gave the stock an "in-line" rating in a report on Tuesday. Keefe, Bruyette & Woods raised their target price on shares of Bank of New York Mellon from $87.00 to $96.00 and gave the stock an "outperform" rating in a report on Tuesday, December 3rd. Wells Fargo & Company boosted their price target on shares of Bank of New York Mellon from $86.00 to $96.00 and gave the company an "equal weight" rating in a report on Monday, March 3rd. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Bank of New York Mellon from $94.00 to $98.00 and gave the stock a "buy" rating in a research report 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, Bank of New York Mellon has a consensus rating of "Moderate Buy" and a consensus price target of $90.00.

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.