Argus Investors Counsel Inc. Makes New Investment in The Bank of New York Mellon Co. (NYSE:BK)

Argus Investors Counsel Inc. purchased a new stake in The Bank of New York Mellon Co. (NYSE:BK - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,602 shares of the bank's stock, valued at approximately $584,000.

Several other institutional investors also recently bought and sold shares of BK. United Advisor Group LLC purchased a new position in Bank of New York Mellon during the third quarter worth about $595,000. Czech National Bank raised its holdings in shares of Bank of New York Mellon by 4.9% in the 4th quarter. Czech National Bank now owns 157,645 shares of the bank's stock valued at $12,112,000 after purchasing an additional 7,316 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Bank of New York Mellon by 1.7% during the 3rd quarter. Principal Financial Group Inc. now owns 883,853 shares of the bank's stock worth $63,514,000 after acquiring an additional 14,916 shares in the last quarter. Chase Investment Counsel Corp increased its stake in Bank of New York Mellon by 67.2% in the third quarter. Chase Investment Counsel Corp now owns 83,530 shares of the bank's stock valued at $6,002,000 after purchasing an additional 33,558 shares during the last quarter. Finally, HighTower Advisors LLC raised its holdings in Bank of New York Mellon by 130.1% during the third quarter. HighTower Advisors LLC now owns 326,372 shares of the bank's stock worth $23,449,000 after purchasing an additional 184,560 shares in the last quarter. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on BK. 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 research report on Thursday, January 16th. Citigroup boosted their price objective on Bank of New York Mellon from $75.00 to $82.00 and gave the company a "neutral" rating in a research note on Monday, November 25th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of 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. UBS Group increased their price target on shares of Bank of New York Mellon from $88.00 to $94.00 and gave the stock a "buy" rating in a research note on Tuesday, January 21st. Finally, Royal Bank of Canada restated a "sector perform" rating and issued a $79.00 price objective on shares of Bank of New York Mellon in a research note on Monday, October 14th. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $88.00.

Bank of New York Mellon Price Performance

Bank of New York Mellon stock traded down $1.16 during midday trading on Monday, reaching $84.99. The company's stock had a trading volume of 2,436,634 shares, compared to its average volume of 3,850,833. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.70 and a current ratio of 0.69. The Bank of New York Mellon Co. has a fifty-two week low of $52.64 and a fifty-two week high of $87.70. The firm has a market capitalization of $61.79 billion, a PE ratio of 14.63, a P/E/G ratio of 0.98 and a beta of 1.08. The stock's 50 day simple moving average is $80.70 and its 200 day simple moving average is $74.83.

Bank of New York Mellon (NYSE:BK - Get Free Report) last posted its quarterly earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.54 by $0.18. The company had revenue of $4.85 billion during the quarter, compared to the consensus estimate 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 company's revenue for the quarter was up 11.2% on a year-over-year basis. During the same period last year, the firm earned $1.28 EPS. On average, equities research analysts forecast that The Bank of New York Mellon Co. will post 6.89 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Monday, January 27th were given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 2.21%. The ex-dividend date was Monday, January 27th. Bank of New York Mellon's payout ratio is 32.36%.

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.