Teamwork Financial Advisors LLC Invests $2.84 Million in The Bank of New York Mellon Co. (NYSE:BK)

Teamwork Financial Advisors LLC bought a new position in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 36,984 shares of the bank's stock, valued at approximately $2,841,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. McClarren Financial Advisors Inc. increased its stake in shares of Bank of New York Mellon by 586.4% during the third quarter. McClarren Financial Advisors Inc. now owns 405 shares of the bank's stock worth $29,000 after buying an additional 346 shares during the period. Fortitude Family Office LLC increased its position in shares of Bank of New York Mellon by 130.6% in 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 last quarter. Modus Advisors LLC acquired a new stake in shares of Bank of New York Mellon in the 4th quarter valued at $49,000. Ashton Thomas Securities LLC purchased a new stake in shares of Bank of New York Mellon during the 3rd quarter worth $46,000. Finally, Grove Bank & Trust grew its stake 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 worth $46,000 after purchasing an additional 144 shares in the last quarter. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BK has been the topic of a number of analyst reports. JPMorgan Chase & Co. raised their price target on Bank of New York Mellon from $69.00 to $77.00 and gave the company an "overweight" rating in a research note on Monday, October 7th. Citigroup boosted their target price on Bank of New York Mellon from $75.00 to $82.00 and gave the stock a "neutral" rating in a research note on Monday, November 25th. Evercore ISI increased their price target on shares of Bank of New York Mellon from $79.00 to $83.00 and gave the company an "in-line" rating in a research note on Thursday, January 16th. The Goldman Sachs Group boosted their price objective on shares of Bank of New York Mellon from $74.00 to $80.00 and gave the stock a "buy" rating in a research report on Thursday, September 26th. Finally, Deutsche Bank Aktiengesellschaft increased 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 research report on Thursday, January 16th. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, Bank of New York Mellon has an average rating of "Moderate Buy" and a consensus price target of $88.00.

Bank of New York Mellon Price Performance

Shares of Bank of New York Mellon stock traded up $0.42 during trading on Thursday, hitting $84.75. 1,863,420 shares of the company were exchanged, compared to its average volume of 4,278,360. The Bank of New York Mellon Co. has a fifty-two week low of $52.64 and a fifty-two week high of $85.81. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.83. The firm has a 50 day moving average price of $79.23 and a 200 day moving average price of $72.82. The stock has a market capitalization of $61.62 billion, a price-to-earnings ratio of 14.57, a P/E/G ratio of 0.97 and a beta of 1.08.

Bank of New York Mellon (NYSE:BK - Get Free Report) last issued its quarterly earnings results on Wednesday, January 15th. The bank reported $1.72 EPS for the quarter, topping analysts' consensus estimates 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 the consensus estimate of $4.66 billion. During the same period in the previous year, the firm posted $1.28 earnings per share. The company's quarterly revenue was up 11.2% compared to the same quarter last year. On average, equities analysts expect that The Bank of New York Mellon Co. will post 6.86 earnings per share for the current fiscal year.

Bank of New York Mellon Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Monday, January 27th will be given a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 2.22%. The ex-dividend date of this dividend is Monday, January 27th. Bank of New York Mellon's dividend payout ratio (DPR) is currently 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.