Kestra Private Wealth Services LLC Raises Stake in The Bank of New York Mellon Co. (NYSE:BK)

Kestra Private Wealth Services LLC lifted its holdings in The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 437.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 42,234 shares of the bank's stock after acquiring an additional 34,371 shares during the period. Kestra Private Wealth Services LLC's holdings in Bank of New York Mellon were worth $3,245,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Studio Investment Management LLC increased its position in shares of Bank of New York Mellon by 2.1% during the 3rd quarter. Studio Investment Management LLC now owns 6,636 shares of the bank's stock valued at $477,000 after purchasing an additional 134 shares during the last quarter. Stanley Laman Group Ltd. increased its position in shares of Bank of New York Mellon by 2.2% during the third quarter. Stanley Laman Group Ltd. now owns 6,198 shares of the bank's stock worth $445,000 after purchasing an additional 135 shares in the last quarter. Grove Bank & Trust raised its position in shares of Bank of New York Mellon by 21.0% in the 4th quarter. Grove Bank & Trust now owns 779 shares of the bank's stock valued at $60,000 after purchasing an additional 135 shares during the last quarter. Avidian Wealth Enterprises LLC raised its stake in Bank of New York Mellon by 2.0% in the 3rd quarter. Avidian Wealth Enterprises LLC now owns 7,024 shares of the bank's stock worth $505,000 after acquiring an additional 137 shares during the last quarter. Finally, Frank Rimerman Advisors LLC boosted its holdings in Bank of New York Mellon by 1.1% in the third quarter. Frank Rimerman Advisors LLC now owns 12,908 shares of the bank's stock valued at $928,000 after purchasing an additional 142 shares during the last quarter. Hedge funds and other institutional investors own 85.31% of the company's stock.

Analyst Upgrades and Downgrades

BK has been the topic of several research analyst reports. StockNews.com cut Bank of New York Mellon from a "buy" rating to a "hold" rating in a report on Thursday, February 6th. Wells Fargo & Company lifted their target price on 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. Evercore ISI increased their target price on shares of Bank of New York Mellon from $79.00 to $83.00 and gave the stock an "in-line" rating in a research note on Thursday, January 16th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $79.00 price objective on shares of Bank of New York Mellon in a report on Monday, October 14th. Finally, Wolfe Research cut shares of Bank of New York Mellon from an "outperform" rating to a "peer perform" rating in a research note on Friday, January 3rd. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $88.00.

Bank of New York Mellon Stock Up 0.6 %

Shares of Bank of New York Mellon stock traded up $0.53 on Tuesday, hitting $85.56. The company had a trading volume of 2,329,309 shares, compared to its average volume of 3,834,545. The firm has a market capitalization of $62.21 billion, a P/E ratio of 14.73, a P/E/G ratio of 0.98 and a beta of 1.08. The stock has a 50-day moving average of $80.77 and a 200-day moving average of $74.97. 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 Bank of New York Mellon Co. has a twelve month low of $52.64 and a twelve month high of $87.70.

Bank of New York Mellon (NYSE:BK - Get Free Report) last posted 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. The business had revenue of $4.85 billion during 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%. Bank of New York Mellon's quarterly revenue was up 11.2% on a year-over-year basis. During the same quarter last year, the company posted $1.28 earnings per share. Research analysts predict that The Bank of New York Mellon Co. will post 6.89 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Monday, January 27th were paid a dividend of $0.47 per share. The ex-dividend date was Monday, January 27th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.20%. Bank of New York Mellon's payout ratio is presently 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.