1620 Investment Advisors Inc. Invests $93,000 in The Bank of New York Mellon Co. (NYSE:BK)

1620 Investment Advisors Inc. acquired a new position in shares of The Bank of New York Mellon Co. (NYSE:BK) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,209 shares of the bank’s stock, valued at approximately $93,000.

Other large investors have also added to or reduced their stakes in the company. Czech National Bank lifted its position in Bank of New York Mellon by 4.9% in the 4th quarter. Czech National Bank now owns 157,645 shares of the bank’s stock valued at $12,112,000 after acquiring an additional 7,316 shares in the last quarter. HighTower Advisors LLC lifted its position in Bank of New York Mellon by 130.1% in the 3rd quarter. HighTower Advisors LLC now owns 326,372 shares of the bank’s stock valued at $23,449,000 after acquiring an additional 184,560 shares in the last quarter. Primecap Management Co. CA lifted its position in Bank of New York Mellon by 1.2% in the 3rd quarter. Primecap Management Co. CA now owns 719,900 shares of the bank’s stock valued at $51,732,000 after acquiring an additional 8,400 shares in the last quarter. Transamerica Financial Advisors Inc. purchased a new stake in Bank of New York Mellon in the 3rd quarter valued at about $1,010,000. Finally, Fifth Third Bancorp increased its stake in Bank of New York Mellon by 9.2% in the 4th quarter. Fifth Third Bancorp now owns 94,046 shares of the bank’s stock valued at $7,226,000 after buying an additional 7,935 shares during the last quarter. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Stock Down 0.6 %

BK opened at $83.46 on Friday. The company has a 50 day moving average of $84.88 and a 200 day moving average of $78.94. The company has a market cap of $59.92 billion, a PE ratio of 14.36, a price-to-earnings-growth ratio of 0.97 and a beta of 1.06. The Bank of New York Mellon Co. has a 12 month low of $52.64 and a 12 month high of $90.34. The company has a current ratio of 0.69, a quick ratio of 0.70 and a debt-to-equity ratio of 0.83.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings data on Wednesday, January 15th. The bank reported $1.72 EPS for the quarter, topping the consensus estimate of $1.54 by $0.18. The company 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 net margin of 11.35% and a return on equity of 12.68%. Bank of New York Mellon’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same period last year, the firm earned $1.28 EPS. On average, sell-side analysts expect that The Bank of New York Mellon Co. will post 6.96 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Monday, January 27th were issued a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 2.25%. The ex-dividend date of this dividend was Monday, January 27th. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 32.36%.

Wall Street Analysts Forecast Growth

Several research firms have commented on BK. Morgan Stanley increased their price objective on shares of Bank of New York Mellon from $90.00 to $97.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Keefe, Bruyette & Woods increased their price objective on shares of Bank of New York Mellon from $87.00 to $96.00 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. Wells Fargo & Company increased their price objective on shares of Bank of New York Mellon from $86.00 to $96.00 and gave the company an “equal weight” rating in a research note on Monday, March 3rd. Royal Bank of Canada reiterated a “sector perform” rating and issued a $90.00 price objective on shares of Bank of New York Mellon in a research note on Monday, March 17th. Finally, Deutsche Bank Aktiengesellschaft raised 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 analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $89.50.

Bank of New York Mellon Company 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.