Transcend Capital Advisors LLC Makes New Investment in The Bank of New York Mellon Co. (NYSE:BK)

Transcend Capital Advisors LLC acquired a new position in shares of The Bank of New York Mellon Co. (NYSE:BK) during the 4th quarter, Holdings Channel reports. The fund acquired 3,674 shares of the bank’s stock, valued at approximately $282,000.

Other large investors also recently added to or reduced their stakes in the company. Centricity Wealth Management LLC bought a new stake in Bank of New York Mellon during the fourth quarter worth approximately $39,000. Fortitude Family Office LLC grew its stake 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 valued at $44,000 after buying an additional 346 shares during the last quarter. Modus Advisors LLC bought a new position in shares of Bank of New York Mellon during the fourth quarter valued at approximately $49,000. Ashton Thomas Securities LLC bought a new position in shares of Bank of New York Mellon during the third quarter valued at approximately $46,000. Finally, Friedenthal Financial bought a new position in shares of Bank of New York Mellon during the fourth quarter valued at approximately $56,000. 85.31% of the stock is owned by institutional investors.

Bank of New York Mellon Stock Up 0.1 %

Bank of New York Mellon stock opened at $87.29 on Monday. The business has a fifty day moving average of $82.04 and a two-hundred day moving average of $76.46. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.83. The firm has a market cap of $63.46 billion, a P/E ratio of 15.02, a P/E/G ratio of 0.98 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) last posted its 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 company had revenue of $4.85 billion during 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%. Bank of New York Mellon’s revenue 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. On average, analysts forecast that The Bank of New York Mellon Co. will post 6.94 earnings per share for the current fiscal 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 issued a dividend of $0.47 per share. The ex-dividend date of this dividend was Monday, January 27th. This represents a $1.88 dividend on an annualized basis and a yield of 2.15%. Bank of New York Mellon’s dividend payout ratio is currently 32.36%.

Analyst Upgrades and Downgrades

BK has been the topic of a number of analyst reports. Wells Fargo & Company upped 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 research note on Thursday, January 16th. Wolfe Research cut Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. Citigroup upped their target price on Bank of New York Mellon from $75.00 to $82.00 and gave the company a “neutral” rating in a research note on Monday, November 25th. Evercore ISI upped their target price on 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. Finally, Truist Financial increased their price objective on Bank of New York Mellon from $91.00 to $93.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $88.00.

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.