Vivid Wealth Management LLC Takes Position in The Bank of New York Mellon Co. (NYSE:BK)

Vivid Wealth Management LLC bought a new position in 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 fund bought 29,197 shares of the bank's stock, valued at approximately $2,243,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in BK. McClarren Financial Advisors Inc. boosted its holdings 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 purchasing an additional 346 shares during the period. Fortitude Family Office LLC boosted its holdings in shares of Bank of New York Mellon by 130.6% during the third quarter. Fortitude Family Office LLC now owns 611 shares of the bank's stock worth $44,000 after purchasing an additional 346 shares during the period. Modus Advisors LLC acquired a new stake in shares of Bank of New York Mellon during the fourth quarter worth approximately $49,000. Ashton Thomas Securities LLC acquired a new stake in shares of Bank of New York Mellon during the third quarter worth approximately $46,000. Finally, Friedenthal Financial acquired a new position in shares of Bank of New York Mellon in the fourth quarter worth $56,000. 85.31% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Wolfe Research downgraded shares of Bank of New York Mellon from an "outperform" rating to a "peer perform" rating in a research note on Friday, January 3rd. Bank of America lifted their price target on Bank of New York Mellon from $90.00 to $95.00 and gave the company a "buy" rating in a report on Thursday, January 16th. 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 note on Thursday, January 16th. Wells Fargo & Company increased their price target on shares of Bank of New York Mellon from $82.00 to $86.00 and gave the stock an "equal weight" rating in a research note on Thursday, January 16th. Finally, Deutsche Bank Aktiengesellschaft increased 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 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.com, the stock has an average rating of "Moderate Buy" and an average price target of $88.00.

Bank of New York Mellon Stock Performance

Shares of Bank of New York Mellon stock traded down $0.66 during midday trading on Wednesday, hitting $88.25. The company had a trading volume of 1,952,393 shares, compared to its average volume of 3,857,782. The business's 50 day simple moving average is $81.54 and its two-hundred day simple moving average is $75.92. The stock has a market cap of $64.16 billion, a PE ratio of 15.18, a P/E/G ratio of 0.99 and a beta of 1.08. 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 1-year low of $52.64 and a 1-year high of $89.44.

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 EPS for the quarter, beating analysts' consensus estimates of $1.54 by $0.18. The business had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.66 billion. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The firm's revenue for the quarter was up 11.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.28 earnings per share. As a group, equities analysts predict that The Bank of New York Mellon Co. will post 6.93 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Monday, January 27th were issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 2.13%. The ex-dividend date of this dividend was Monday, January 27th. Bank of New York Mellon's 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.