Shilanski & Associates Inc. Purchases New Shares in The Bank of New York Mellon Co. (NYSE:BK)

Shilanski & Associates Inc. purchased a new position in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 8,233 shares of the bank's stock, valued at approximately $633,000.

A number of other large investors have also made changes to their positions in the company. MFA Wealth Services acquired a new stake in shares of Bank of New York Mellon in the 4th quarter valued at about $418,000. McGlone Suttner Wealth Management Inc. raised its position in Bank of New York Mellon by 6.2% in the 4th quarter. McGlone Suttner Wealth Management Inc. now owns 7,084 shares of the bank's stock valued at $544,000 after buying an additional 414 shares during the last quarter. New Century Financial Group LLC acquired a new stake in Bank of New York Mellon in the 4th quarter valued at approximately $342,000. Apeiron RIA LLC acquired a new stake in shares of Bank of New York Mellon in the fourth quarter valued at approximately $594,000. Finally, IVC Wealth Advisors LLC lifted its position in shares of Bank of New York Mellon by 2.3% in the fourth quarter. IVC Wealth Advisors LLC now owns 7,475 shares of the bank's stock worth $574,000 after purchasing an additional 167 shares in the last quarter. Institutional investors own 85.31% of the company's stock.

Bank of New York Mellon Price Performance

Shares of BK stock traded up $0.78 during trading on Friday, hitting $85.51. The company had a trading volume of 1,983,113 shares, compared to its average volume of 4,279,057. The Bank of New York Mellon Co. has a 52 week low of $52.64 and a 52 week high of $86.34. The stock has a market capitalization of $62.17 billion, a price-to-earnings ratio of 14.72, a price-to-earnings-growth ratio of 0.96 and a beta of 1.08. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.83. The stock's 50-day moving average is $79.38 and its two-hundred day moving average is $72.91.

Bank of New York Mellon (NYSE:BK - Get Free Report) last announced its earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.18. The company 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 firm's quarterly revenue was up 11.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.28 earnings per share. As a group, analysts predict that The Bank of New York Mellon Co. will post 6.86 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Monday, January 27th will be issued 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 2.20%. Bank of New York Mellon's payout ratio is 32.36%.

Wall Street Analyst Weigh In

BK has been the subject of several analyst reports. JPMorgan Chase & Co. raised their price objective on Bank of New York Mellon from $69.00 to $77.00 and gave the company an "overweight" rating in a report on Monday, October 7th. Citigroup increased their price objective on Bank of New York Mellon from $75.00 to $82.00 and gave the company a "neutral" rating in a report on Monday, November 25th. Royal Bank of Canada restated a "sector perform" rating and set a $79.00 target price on shares of Bank of New York Mellon in a report on Monday, October 14th. Morgan Stanley raised their target price on shares of Bank of New York Mellon from $90.00 to $97.00 and gave the stock an "overweight" rating in a research note on Thursday, January 16th. Finally, Wells Fargo & Company lifted their price target on 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. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target 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.