The Bank of New York Mellon Co. (NYSE:BK) Shares Acquired by Wealthfront Advisers LLC

Wealthfront Advisers LLC increased its holdings in The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 401.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 277,558 shares of the bank's stock after purchasing an additional 222,169 shares during the quarter. Wealthfront Advisers LLC's holdings in Bank of New York Mellon were worth $21,325,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. FMR LLC grew its position in Bank of New York Mellon by 78.6% in the third 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. Wellington Management Group LLP grew its holdings in shares of Bank of New York Mellon by 2,707.1% during the third quarter. Wellington Management Group LLP now owns 3,258,967 shares of the bank's stock worth $234,189,000 after purchasing an additional 3,142,869 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Bank of New York Mellon during the fourth quarter worth about $90,955,000. Zacks Investment Management purchased a new stake in Bank of New York Mellon in the 3rd quarter valued at approximately $62,589,000. Finally, State Street Corp boosted its holdings in Bank of New York Mellon by 2.0% in the 3rd quarter. State Street Corp now owns 33,313,594 shares of the bank's stock valued at $2,393,915,000 after purchasing an additional 659,096 shares in the last quarter. Institutional investors and hedge funds own 85.31% of the company's stock.

Bank of New York Mellon Stock Performance

Bank of New York Mellon stock opened at $81.04 on Wednesday. The stock has a market capitalization of $58.18 billion, a price-to-earnings ratio of 13.95, a P/E/G ratio of 0.97 and a beta of 1.06. The Bank of New York Mellon Co. has a 12-month low of $52.64 and a 12-month high of $90.34. 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 stock has a 50-day simple moving average of $84.08 and a 200 day simple moving average of $78.27.

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Bank of New York Mellon (NYSE:BK - Get Free Report) last announced its quarterly earnings data on Wednesday, January 15th. The bank reported $1.72 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.54 by $0.18. The company 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 revenue was up 11.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.28 EPS. On average, research analysts anticipate that The Bank of New York Mellon Co. will post 6.96 earnings per share for the current fiscal year.

Bank of New York Mellon Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Monday, January 27th were issued a $0.47 dividend. The ex-dividend date was Monday, January 27th. This represents a $1.88 dividend on an annualized basis and a yield of 2.32%. Bank of New York Mellon's payout ratio is currently 32.36%.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Citigroup lifted their price objective on Bank of New York Mellon from $75.00 to $82.00 and gave the stock a "neutral" rating in a research report on Monday, November 25th. Deutsche Bank Aktiengesellschaft upped their price target 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. Keefe, Bruyette & Woods upped their price target 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. Bank of America upped their price target on shares of Bank of New York Mellon from $90.00 to $95.00 and gave the stock a "buy" rating in a research report on Thursday, January 16th. Finally, Evercore ISI increased their target price on 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. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $88.71.

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.

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