Transcend Capital Advisors LLC Invests $282,000 in The Bank of New York Mellon Co. (NYSE:BK)

Transcend Capital Advisors LLC purchased a new stake in The Bank of New York Mellon Co. (NYSE:BK - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 3,674 shares of the bank's stock, valued at approximately $282,000.

A number of other institutional investors have also recently added to or reduced their stakes in BK. FMR LLC grew its stake in shares of Bank of New York Mellon by 78.6% in the 3rd quarter. FMR LLC now owns 19,338,722 shares of the bank's stock valued at $1,389,680,000 after buying an additional 8,512,404 shares during the period. Wellington Management Group LLP lifted its holdings in Bank of New York Mellon by 2,707.1% in the third quarter. Wellington Management Group LLP now owns 3,258,967 shares of the bank's stock valued at $234,189,000 after acquiring an additional 3,142,869 shares during the last quarter. Zacks Investment Management purchased a new position in Bank of New York Mellon in the third quarter worth approximately $62,589,000. State Street Corp increased its stake in Bank of New York Mellon by 2.0% during the third quarter. State Street Corp now owns 33,313,594 shares of the bank's stock worth $2,393,915,000 after acquiring an additional 659,096 shares during the last quarter. Finally, National Bank of Canada FI raised its position in Bank of New York Mellon by 248.3% in the third quarter. National Bank of Canada FI now owns 858,831 shares of the bank's stock valued at $61,715,000 after purchasing an additional 612,287 shares during the period. Hedge funds and other institutional investors own 85.31% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on BK. Barclays boosted their price objective on shares of Bank of New York Mellon from $102.00 to $104.00 and gave the company an "overweight" rating in a report on Thursday, January 16th. Deutsche Bank Aktiengesellschaft increased their price objective 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. Truist Financial raised their target price on Bank of New York Mellon from $91.00 to $93.00 and gave the company a "buy" rating in a report on Thursday, January 16th. Morgan Stanley boosted their price target on shares of Bank of New York Mellon from $90.00 to $97.00 and gave the stock an "overweight" rating in a research note on Thursday, January 16th. Finally, Evercore ISI raised their price objective 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. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $88.00.

Bank of New York Mellon Stock Up 0.7 %

Shares of NYSE BK traded up $0.63 during midday trading on Thursday, hitting $86.97. 3,079,092 shares of the company's stock were exchanged, compared to its average volume of 4,131,565. The firm's fifty day simple moving average is $82.59 and its 200-day simple moving average is $76.86. 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 company has a market cap of $63.23 billion, a PE ratio of 14.97, a P/E/G ratio of 0.97 and a beta of 1.08. The Bank of New York Mellon Co. has a twelve month low of $52.64 and a twelve month high of $89.44.

Bank of New York Mellon (NYSE:BK - Get Free Report) last released its quarterly earnings data on Wednesday, January 15th. The bank reported $1.72 earnings per share 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 company had revenue of $4.85 billion for the quarter, compared to analysts' expectations of $4.66 billion. During the same quarter last year, the company earned $1.28 earnings per share. The firm's revenue for the quarter was up 11.2% on a year-over-year basis. Research analysts predict that The Bank of New York Mellon Co. will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Monday, January 27th were paid 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 2.16%. Bank of New York Mellon's dividend payout ratio is presently 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.