Trust Co. of Vermont Increases Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Trust Co. of Vermont raised its stake in The Bank of New York Mellon Co. (NYSE:BK) by 11.3% during the fourth quarter, HoldingsChannel reports. The fund owned 9,358 shares of the bank’s stock after buying an additional 949 shares during the period. Trust Co. of Vermont’s holdings in Bank of New York Mellon were worth $719,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Premier Path Wealth Partners LLC increased its stake in Bank of New York Mellon by 1.4% during the 4th quarter. Premier Path Wealth Partners LLC now owns 23,044 shares of the bank’s stock valued at $1,770,000 after purchasing an additional 319 shares in the last quarter. Sanibel Captiva Trust Company Inc. lifted its position in Bank of New York Mellon by 3.2% in the 4th quarter. Sanibel Captiva Trust Company Inc. now owns 15,966 shares of the bank’s stock valued at $1,227,000 after acquiring an additional 494 shares in the last quarter. Arkadios Wealth Advisors boosted its stake in Bank of New York Mellon by 1,011.9% during the 4th quarter. Arkadios Wealth Advisors now owns 52,447 shares of the bank’s stock valued at $4,030,000 after purchasing an additional 47,730 shares during the last quarter. Sax Wealth Advisors LLC purchased a new position in shares of Bank of New York Mellon in the fourth quarter worth $397,000. Finally, Merit Financial Group LLC lifted its holdings in shares of Bank of New York Mellon by 134.2% during the fourth quarter. Merit Financial Group LLC now owns 7,034 shares of the bank’s stock valued at $540,000 after purchasing an additional 4,030 shares in the last quarter. 85.31% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Citigroup upped their target price on shares of 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. Deutsche Bank Aktiengesellschaft raised 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. Bank of America boosted their target price on shares of Bank of New York Mellon from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Thursday. The Goldman Sachs Group raised their price target on Bank of New York Mellon from $74.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Finally, Evercore ISI increased 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 report on Thursday. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $87.14.

Bank of New York Mellon Price Performance

NYSE BK opened at $83.31 on Friday. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.89. The Bank of New York Mellon Co. has a 12 month low of $52.64 and a 12 month high of $83.67. The stock has a market cap of $60.57 billion, a price-to-earnings ratio of 18.11, a PEG ratio of 0.76 and a beta of 1.08. The company’s 50 day moving average is $78.87 and its two-hundred day moving average is $72.24.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings data on Wednesday, January 15th. The bank reported $1.72 EPS for the quarter, beating the consensus estimate of $1.54 by $0.18. The firm had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.66 billion. Bank of New York Mellon had a net margin of 9.44% and a return on equity of 12.06%. The company’s revenue was up 11.2% on a year-over-year basis. During the same period last year, the firm earned $1.28 EPS. As a group, research analysts anticipate that The Bank of New York Mellon Co. will post 5.87 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Monday, January 27th will be given a $0.47 dividend. The ex-dividend date of this dividend is Monday, January 27th. This represents a $1.88 annualized dividend and a dividend yield of 2.26%. Bank of New York Mellon’s payout ratio is 40.87%.

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.