PUREfi Wealth LLC Invests $247,000 in The Bank of New York Mellon Co. (NYSE:BK)

PUREfi Wealth LLC bought a new position in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 3,210 shares of the bank's stock, valued at approximately $247,000.

A number of other institutional investors have also recently added to or reduced their stakes in BK. McClarren Financial Advisors Inc. increased its stake in shares of Bank of New York Mellon by 586.4% in the third quarter. McClarren Financial Advisors Inc. now owns 405 shares of the bank's stock valued at $29,000 after buying an additional 346 shares during the period. Fortitude Family Office LLC increased its position 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 purchasing an additional 346 shares during the period. Modus Advisors LLC bought a new position in Bank of New York Mellon during the 4th quarter worth approximately $49,000. Ashton Thomas Securities LLC acquired a new position in shares of Bank of New York Mellon in the 3rd quarter worth approximately $46,000. Finally, Friedenthal Financial bought a new stake in shares of Bank of New York Mellon in the 4th quarter valued at $56,000. 85.31% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on BK shares. Wells Fargo & Company boosted their target price on shares of Bank of New York Mellon from $82.00 to $86.00 and gave the company an "equal weight" rating in a report on Thursday, January 16th. UBS Group upped their target price on Bank of New York Mellon from $88.00 to $94.00 and gave the company a "buy" rating in a research report on Tuesday, January 21st. Keefe, Bruyette & Woods raised their target price on Bank of New York Mellon from $87.00 to $96.00 and gave the stock an "outperform" rating in a research note on Tuesday, December 3rd. StockNews.com lowered Bank of New York Mellon from a "buy" rating to a "hold" rating in a research note on Wednesday. Finally, Deutsche Bank Aktiengesellschaft raised 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 equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $88.00.

Bank of New York Mellon Stock Down 0.6 %

Shares of NYSE:BK traded down $0.55 during mid-day trading on Wednesday, hitting $88.36. 4,038,631 shares of the company traded hands, compared to its average volume of 3,927,351. The stock has a market cap of $64.24 billion, a P/E ratio of 15.21, a P/E/G ratio of 0.99 and a beta of 1.08. The stock has a 50-day moving average price of $81.54 and a two-hundred day moving average price of $75.92. The Bank of New York Mellon Co. has a 12-month low of $52.64 and a 12-month high of $89.44. The company has a current ratio of 0.69, a quick ratio of 0.70 and a debt-to-equity ratio of 0.83.

Bank of New York Mellon (NYSE:BK - Get Free Report) last posted 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. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The firm had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.66 billion. During the same quarter in the prior year, the business posted $1.28 EPS. The business's revenue was up 11.2% compared to the same quarter last year. On average, equities research analysts forecast that The Bank of New York Mellon Co. will post 6.93 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

The company also recently announced 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. The ex-dividend date of this dividend was Monday, January 27th. This represents a $1.88 annualized dividend and a dividend yield of 2.13%. Bank of New York Mellon's dividend payout ratio is currently 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.