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

Teamwork Financial Advisors LLC acquired a new stake in The Bank of New York Mellon Co. (NYSE:BK) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 36,984 shares of the bank’s stock, valued at approximately $2,841,000.

Several other institutional investors have also modified their holdings of BK. McClarren Financial Advisors Inc. raised its stake in Bank of New York Mellon by 586.4% in the third quarter. McClarren Financial Advisors Inc. now owns 405 shares of the bank’s stock valued at $29,000 after buying an additional 346 shares in the last quarter. Fortitude Family Office LLC increased its holdings in shares of Bank of New York Mellon by 130.6% in the 3rd quarter. Fortitude Family Office LLC now owns 611 shares of the bank’s stock valued at $44,000 after acquiring an additional 346 shares during the last quarter. Grove Bank & Trust raised its position in shares of Bank of New York Mellon by 28.8% during the 3rd quarter. Grove Bank & Trust now owns 644 shares of the bank’s stock worth $46,000 after acquiring an additional 144 shares in the last quarter. Ashton Thomas Securities LLC purchased a new stake in Bank of New York Mellon during the third quarter worth approximately $46,000. Finally, Modus Advisors LLC acquired a new position in Bank of New York Mellon in the fourth quarter valued at approximately $49,000. 85.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on BK. Evercore ISI boosted their price objective on shares of Bank of New York Mellon from $79.00 to $83.00 and gave the stock an “in-line” rating in a research report on Thursday, January 16th. Keefe, Bruyette & Woods boosted their price target on shares of Bank of New York Mellon from $87.00 to $96.00 and gave the company an “outperform” rating in a research report on Tuesday, December 3rd. StockNews.com lowered Bank of New York Mellon from a “buy” rating to a “hold” rating in a report on Thursday, January 16th. Royal Bank of Canada reissued a “sector perform” rating and issued a $79.00 target price on shares of Bank of New York Mellon in a report on Monday, October 14th. Finally, Morgan Stanley raised their price target on Bank of New York Mellon from $90.00 to $97.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $88.00.

Bank of New York Mellon Price Performance

Shares of NYSE:BK opened at $84.33 on Thursday. 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 company has a 50-day moving average price of $79.23 and a 200 day moving average price of $72.82. The Bank of New York Mellon Co. has a 52 week low of $52.64 and a 52 week high of $85.81. The company has a market cap of $61.31 billion, a P/E ratio of 14.51, a PEG ratio of 0.97 and a beta of 1.08.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share for the quarter, beating analysts’ consensus estimates 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 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 period in the previous year, the business earned $1.28 earnings per share. Research analysts predict that The Bank of New York Mellon Co. will post 6.86 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Monday, January 27th will be issued a $0.47 dividend. The ex-dividend date of this dividend is Monday, January 27th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.23%. Bank of New York Mellon’s dividend payout ratio is presently 32.36%.

About Bank of New York Mellon

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.