The Bank of New York Mellon Co. (NYSE:BK) Shares Bought by Empirical Financial Services LLC d.b.a. Empirical Wealth Management

Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its holdings in The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 130.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,177 shares of the bank's stock after purchasing an additional 4,065 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management's holdings in Bank of New York Mellon were worth $551,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. State Street Corp increased its stake in shares of Bank of New York Mellon by 2.0% during the 3rd quarter. State Street Corp now owns 33,313,594 shares of the bank's stock worth $2,393,915,000 after purchasing an additional 659,096 shares during the last quarter. FMR LLC increased its stake in Bank of New York Mellon by 78.6% during the 3rd quarter. FMR LLC now owns 19,338,722 shares of the bank's stock worth $1,389,680,000 after acquiring an additional 8,512,404 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Bank of New York Mellon by 1.8% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,634,088 shares of the bank's stock valued at $476,726,000 after purchasing an additional 117,974 shares in the last quarter. Wellington Management Group LLP increased its stake in Bank of New York Mellon by 2,707.1% in the third quarter. Wellington Management Group LLP now owns 3,258,967 shares of the bank's stock valued at $234,189,000 after acquiring an additional 3,142,869 shares during the last quarter. Finally, Franklin Resources Inc. raised its position in Bank of New York Mellon by 8.3% during the third quarter. Franklin Resources Inc. now owns 2,252,729 shares of the bank's stock valued at $172,348,000 after purchasing an additional 173,347 shares in the last quarter. 85.31% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on BK shares. StockNews.com raised Bank of New York Mellon from a "hold" rating to a "buy" rating in a research report on Tuesday. Wolfe Research lowered shares of Bank of New York Mellon from an "outperform" rating to a "peer perform" rating in a report on Friday, January 3rd. Citigroup upped their target price 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. 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 note on Monday, October 14th. Finally, Wells Fargo & Company lifted their price objective on shares of Bank of New York Mellon from $82.00 to $86.00 and gave the company an "equal weight" rating in a research note on Thursday, January 16th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat, Bank of New York Mellon has an average rating of "Moderate Buy" and an average target price of $88.00.

Bank of New York Mellon Stock Performance

NYSE:BK traded up $1.12 during mid-day trading on Thursday, reaching $87.16. The company's stock had a trading volume of 586,894 shares, compared to its average volume of 4,042,667. The firm's fifty day moving average price is $80.02 and its two-hundred day moving average price is $73.68. The stock has a market cap of $63.37 billion, a P/E ratio of 15.00, a PEG ratio of 0.96 and a beta of 1.08. 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 Bank of New York Mellon Co. has a 12-month low of $52.64 and a 12-month high of $87.70.

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 EPS for the quarter, beating analysts' consensus estimates of $1.54 by $0.18. The business had revenue of $4.85 billion for 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% on a year-over-year basis. During the same period last year, the firm earned $1.28 earnings per share. On average, equities analysts forecast that The Bank of New York Mellon Co. will post 6.86 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Monday, January 27th will be issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 2.16%. The ex-dividend date of this dividend is Monday, January 27th. 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.