The Bank of New York Mellon Co. (NYSE:BK) Shares Bought by Choreo LLC

Choreo LLC raised its holdings in The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 6.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 52,913 shares of the bank's stock after buying an additional 3,374 shares during the quarter. Choreo LLC's holdings in Bank of New York Mellon were worth $4,077,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of BK. McClarren Financial Advisors Inc. raised its holdings in shares of Bank of New York Mellon by 586.4% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 405 shares of the bank's stock worth $29,000 after acquiring an additional 346 shares during the last quarter. Fortitude Family Office LLC lifted its stake in Bank of New York Mellon by 130.6% during the 3rd quarter. Fortitude Family Office LLC now owns 611 shares of the bank's stock valued at $44,000 after acquiring an additional 346 shares in the last quarter. Grove Bank & Trust lifted its position in shares of Bank of New York Mellon by 28.8% during the third quarter. Grove Bank & Trust now owns 644 shares of the bank's stock valued at $46,000 after purchasing an additional 144 shares in the last quarter. Ashton Thomas Securities LLC bought a new stake in Bank of New York Mellon in the 3rd quarter worth about $46,000. Finally, Modus Advisors LLC purchased a new stake in Bank of New York Mellon in the 4th quarter valued at about $49,000. 85.31% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on BK. Wells Fargo & Company boosted their target price on Bank of New York Mellon from $82.00 to $86.00 and gave the stock an "equal weight" rating in a research note on Thursday, January 16th. Morgan Stanley lifted their price objective on shares of Bank of New York Mellon from $90.00 to $97.00 and gave the stock an "overweight" rating in a research report on Thursday, January 16th. Bank of America increased their price objective on 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. Citigroup upped their price target on Bank of New York Mellon from $75.00 to $82.00 and gave the company a "neutral" rating in a research report on Monday, November 25th. Finally, Royal Bank of Canada reissued a "sector perform" rating and issued a $79.00 price target on shares of Bank of New York Mellon in a research report on Monday, October 14th. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $88.00.

Bank of New York Mellon Price Performance

Shares of BK traded down $0.25 during midday trading on Friday, hitting $86.15. 3,438,147 shares of the company traded hands, compared to its average volume of 3,879,773. The firm has a 50 day moving average of $80.70 and a 200-day moving average of $74.75. The Bank of New York Mellon Co. has a 52 week low of $52.64 and a 52 week high of $87.70. The stock has a market cap of $62.64 billion, a price-to-earnings ratio of 14.83, a PEG ratio of 0.98 and a beta of 1.08. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.70 and a current ratio of 0.69.

Bank of New York Mellon (NYSE:BK - Get Free Report) last released its quarterly earnings data on Wednesday, January 15th. The bank reported $1.72 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $4.66 billion. During the same quarter last year, the business earned $1.28 earnings per share. Bank of New York Mellon's quarterly revenue was up 11.2% compared to the same quarter last year. On average, analysts forecast that The Bank of New York Mellon Co. will post 6.89 EPS 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. Investors of record on Monday, January 27th were issued a $0.47 dividend. The ex-dividend date of this dividend was Monday, January 27th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.18%. 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.