World Investment Advisors lifted its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 14.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 41,833 shares of the bank's stock after acquiring an additional 5,408 shares during the quarter. World Investment Advisors' holdings in Bank of New York Mellon were worth $3,214,000 as of its most recent filing with the SEC.
Several other institutional investors have also modified their holdings of the business. Huntington National Bank raised its stake in shares of Bank of New York Mellon by 76.3% in the 4th quarter. Huntington National Bank now owns 13,346 shares of the bank's stock valued at $1,025,000 after purchasing an additional 5,778 shares in the last quarter. Massachusetts Financial Services Co. MA bought a new stake in Bank of New York Mellon in the fourth quarter valued at about $210,000. Trexquant Investment LP acquired a new stake in Bank of New York Mellon during the fourth quarter valued at approximately $1,418,000. Diametric Capital LP acquired a new position in shares of Bank of New York Mellon in the 4th quarter worth approximately $256,000. Finally, HighPoint Advisor Group LLC grew its position in shares of Bank of New York Mellon by 14.8% in the 4th quarter. HighPoint Advisor Group LLC now owns 7,559 shares of the bank's stock worth $581,000 after acquiring an additional 975 shares in the last quarter. Institutional investors and hedge funds own 85.31% of the company's stock.
Bank of New York Mellon Trading Down 4.5 %
Shares of NYSE BK traded down $3.55 during midday trading on Thursday, reaching $75.80. 1,771,128 shares of the stock were exchanged, compared to its average volume of 3,954,286. 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 12 month low of $52.64 and a 12 month high of $90.34. The business has a 50-day simple moving average of $83.95 and a two-hundred day simple moving average of $80.10. The company has a market capitalization of $54.42 billion, a price-to-earnings ratio of 13.04, a P/E/G ratio of 0.97 and a beta of 1.03.
Bank of New York Mellon (NYSE:BK - Get Free Report) last released its quarterly earnings results 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. The firm had revenue of $4.85 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.28 EPS. As a group, equities research analysts expect that The Bank of New York Mellon Co. will post 6.96 EPS for the current year.
Bank of New York Mellon Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Monday, January 27th were issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 2.48%. The ex-dividend date was Monday, January 27th. Bank of New York Mellon's dividend payout ratio is 32.36%.
Wall Street Analyst Weigh In
Several research firms have recently commented on BK. Wells Fargo & Company lifted their price target on shares of Bank of New York Mellon from $86.00 to $96.00 and gave the company an "equal weight" rating in a report on Monday, March 3rd. Bank of America increased 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 note on Thursday, January 16th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Bank of New York Mellon from $94.00 to $98.00 and gave the company a "buy" rating in a research note on Thursday, January 16th. Citigroup upped their target price on shares of Bank of New York Mellon from $82.00 to $85.00 and gave the company a "neutral" rating in a research note on Monday, March 24th. Finally, StockNews.com lowered Bank of New York Mellon from a "buy" rating to a "hold" rating in a report on Wednesday, February 19th. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $89.86.
Check Out Our Latest Research Report on BK
About Bank of New York Mellon
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Free Report)
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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