SteelPeak Wealth LLC Purchases 57,172 Shares of The Bank of New York Mellon Co. (NYSE:BK)

SteelPeak Wealth LLC grew its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 1,796.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 60,354 shares of the bank's stock after acquiring an additional 57,172 shares during the quarter. SteelPeak Wealth LLC's holdings in Bank of New York Mellon were worth $4,637,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in BK. Patriot Financial Group Insurance Agency LLC boosted its position in Bank of New York Mellon by 5.1% during the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 17,541 shares of the bank's stock worth $1,348,000 after buying an additional 857 shares during the period. Perigon Wealth Management LLC grew its stake in shares of Bank of New York Mellon by 7.3% in the fourth quarter. Perigon Wealth Management LLC now owns 6,369 shares of the bank's stock worth $524,000 after purchasing an additional 431 shares during the last quarter. Revolve Wealth Partners LLC acquired a new stake in Bank of New York Mellon in the fourth quarter valued at $220,000. Nilsine Partners LLC raised its position in Bank of New York Mellon by 29.5% during the 4th quarter. Nilsine Partners LLC now owns 12,053 shares of the bank's stock worth $926,000 after purchasing an additional 2,746 shares during the last quarter. Finally, Capital Asset Advisory Services LLC grew its position in shares of Bank of New York Mellon by 14.1% in the 4th quarter. Capital Asset Advisory Services LLC now owns 4,159 shares of the bank's stock valued at $320,000 after buying an additional 513 shares during the last quarter. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Bank of New York Mellon Stock Down 0.6 %

Shares of NYSE:BK traded down $0.49 during midday trading on Friday, hitting $86.01. 3,905,697 shares of the company's stock were exchanged, compared to its average volume of 3,812,559. The Bank of New York Mellon Co. has a 12 month low of $52.64 and a 12 month high of $87.70. The company has a market cap of $62.53 billion, a PE ratio of 14.80, a price-to-earnings-growth ratio of 0.98 and a beta of 1.08. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.69 and a quick ratio of 0.70. The stock has a 50 day moving average price of $80.29 and a 200-day moving average price of $73.91.

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 for the quarter, beating analysts' consensus estimates of $1.54 by $0.18. The company had revenue of $4.85 billion for the quarter, compared to analyst estimates 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 company's revenue for the quarter was up 11.2% on a year-over-year basis. During the same quarter last year, the company earned $1.28 earnings per share. On average, sell-side analysts anticipate 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 business also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Monday, January 27th will be given a dividend of $0.47 per share. The ex-dividend date is Monday, January 27th. This represents a $1.88 annualized dividend and a yield of 2.19%. Bank of New York Mellon's payout ratio is currently 32.36%.

Analyst Ratings Changes

A number of research firms recently commented on BK. StockNews.com raised Bank of New York Mellon from a "hold" rating to a "buy" rating in a research note on Tuesday. Keefe, Bruyette & Woods increased their price objective on shares of Bank of New York Mellon from $87.00 to $96.00 and gave the stock an "outperform" rating in a research report on Tuesday, December 3rd. 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. Deutsche Bank Aktiengesellschaft increased their price target on Bank of New York Mellon from $94.00 to $98.00 and gave the stock a "buy" rating in a report on Thursday, January 16th. Finally, 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. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $88.00.

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.