10,200 Shares in The Bank of New York Mellon Co. (NYSE:BK) Bought by Yoffe Investment Management LLC

Yoffe Investment Management LLC acquired a new stake in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 10,200 shares of the bank's stock, valued at approximately $784,000.

Several other large investors have also recently bought and sold shares of the company. Graney & King LLC acquired a new stake in shares of Bank of New York Mellon during the fourth quarter worth $35,000. Centricity Wealth Management LLC acquired a new stake in shares of Bank of New York Mellon in the 4th quarter valued at about $39,000. TCTC Holdings LLC lifted its holdings in shares of Bank of New York Mellon by 257.5% in the fourth quarter. TCTC Holdings LLC now owns 597 shares of the bank's stock valued at $46,000 after purchasing an additional 430 shares in the last quarter. Modus Advisors LLC bought a new stake in shares of Bank of New York Mellon in the fourth quarter valued at about $49,000. Finally, Friedenthal Financial bought a new position in shares of Bank of New York Mellon during the fourth quarter worth about $56,000. Institutional investors own 85.31% of the company's stock.

Bank of New York Mellon Price Performance

Shares of Bank of New York Mellon stock traded down $0.58 on Wednesday, reaching $72.93. 1,379,365 shares of the stock were exchanged, compared to its average volume of 3,938,250. The firm's 50 day moving average is $84.22 and its 200-day moving average is $80.06. The firm has a market cap of $52.36 billion, a PE ratio of 12.52, a P/E/G ratio of 0.97 and a beta of 1.03. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.70 and a current ratio of 0.69. The Bank of New York Mellon Co. has a one year low of $52.64 and a one year high of $90.34.

Bank of New York Mellon (NYSE:BK - Get Free Report) last issued its quarterly earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.18. The company had revenue of $4.85 billion for the quarter, compared to analyst estimates 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 company's revenue for the quarter was up 11.2% compared to the same quarter last year. During the same quarter last year, the company posted $1.28 EPS. As a group, analysts anticipate that The Bank of New York Mellon Co. will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 7th. Investors 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 2.58%. The ex-dividend date was Monday, January 27th. Bank of New York Mellon's dividend payout ratio (DPR) is presently 32.36%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on BK shares. Evercore ISI raised their price target on shares of Bank of New York Mellon from $83.00 to $87.00 and gave the stock an "in-line" rating in a research note on Tuesday, April 1st. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $90.00 price objective on shares of Bank of New York Mellon in a research report on Monday, March 17th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Bank of New York Mellon from $94.00 to $98.00 and gave the stock a "buy" rating in a report on Thursday, January 16th. Morgan Stanley lowered their price target on shares of Bank of New York Mellon from $99.00 to $98.00 and set an "overweight" rating on the stock in a report on Wednesday, April 2nd. Finally, Citigroup boosted their price objective on Bank of New York Mellon from $82.00 to $85.00 and gave the stock a "neutral" rating in a report on Monday, March 24th. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, Bank of New York Mellon currently has a consensus rating of "Moderate Buy" and an average price target of $89.86.

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.