Dakota Wealth Management Acquires 9,170 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Dakota Wealth Management grew its stake in The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 5.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 174,637 shares of the bank's stock after purchasing an additional 9,170 shares during the period. Dakota Wealth Management's holdings in Bank of New York Mellon were worth $13,417,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. McClarren Financial Advisors Inc. increased its stake in 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 valued at $29,000 after acquiring an additional 346 shares during the period. Fortitude Family Office LLC grew its holdings in shares of 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 worth $44,000 after purchasing an additional 346 shares in the last quarter. Grove Bank & Trust increased 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 during the period. Ashton Thomas Securities LLC acquired a new position in shares of Bank of New York Mellon in the third quarter valued at $46,000. Finally, Modus Advisors LLC acquired a new position in shares of Bank of New York Mellon in the fourth quarter valued at $49,000. Institutional investors and hedge funds own 85.31% of the company's stock.

Bank of New York Mellon Price Performance

NYSE:BK traded down $0.60 during mid-day trading on Wednesday, reaching $84.33. 4,288,998 shares of the company were exchanged, compared to its average volume of 4,482,965. The Bank of New York Mellon Co. has a 12 month low of $52.64 and a 12 month high of $85.81. The stock has a market cap of $61.31 billion, a PE ratio of 14.51, a PEG ratio of 0.95 and a beta of 1.08. 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 company has a fifty day moving average of $79.10 and a 200 day moving average of $72.74.

Bank of New York Mellon (NYSE:BK - Get Free Report) last posted its quarterly earnings data on Wednesday, January 15th. The bank reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.18. The firm had revenue of $4.85 billion during the quarter, compared to analysts' expectations of $4.66 billion. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. Bank of New York Mellon's revenue was up 11.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.28 EPS. On average, research 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 Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Monday, January 27th will be issued a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 2.23%. The ex-dividend date is Monday, January 27th. Bank of New York Mellon's dividend payout ratio is 32.36%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. 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 report on Monday, October 14th. Barclays increased their price target on shares of Bank of New York Mellon from $102.00 to $104.00 and gave the stock an "overweight" rating in a research report on Thursday, January 16th. StockNews.com downgraded Bank of New York Mellon from a "buy" rating to a "hold" rating in a report on Thursday, January 16th. JPMorgan Chase & Co. increased their target price on Bank of New York Mellon from $69.00 to $77.00 and gave the stock an "overweight" rating in a report on Monday, October 7th. Finally, Bank of America boosted their price target on Bank of New York Mellon from $90.00 to $95.00 and gave the company a "buy" rating in a research note on Thursday, January 16th. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $88.00.

Bank of New York Mellon Company 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.