135,202 Shares in The Bank of New York Mellon Co. (NYSE:BK) Purchased by Fisher Funds Management LTD

Fisher Funds Management LTD purchased a new stake in The Bank of New York Mellon Co. (NYSE:BK) during the 4th quarter, HoldingsChannel reports. The fund purchased 135,202 shares of the bank’s stock, valued at approximately $10,390,000.

Other large investors have also recently modified their holdings of the company. Centricity Wealth Management LLC bought a new position in shares of Bank of New York Mellon in the fourth quarter worth approximately $39,000. Fortitude Family Office LLC raised its position in shares of Bank of New York Mellon by 130.6% during the 3rd quarter. Fortitude Family Office LLC now owns 611 shares of the bank’s stock valued at $44,000 after buying an additional 346 shares in the last quarter. Ashton Thomas Securities LLC bought a new stake in shares of Bank of New York Mellon during the 3rd quarter worth $46,000. Modus Advisors LLC purchased a new position in Bank of New York Mellon in the fourth quarter worth $49,000. Finally, Concord Wealth Partners increased its stake in Bank of New York Mellon by 150.5% in the third quarter. Concord Wealth Partners now owns 754 shares of the bank’s stock valued at $54,000 after acquiring an additional 453 shares during the last quarter. Institutional investors own 85.31% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on BK shares. Evercore ISI lifted their price target on Bank of New York Mellon from $79.00 to $83.00 and gave the stock an “in-line” rating in a research note on Thursday, January 16th. Barclays boosted their target price on Bank of New York Mellon from $102.00 to $104.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Bank of New York Mellon from $94.00 to $98.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Wolfe Research lowered shares of Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. Finally, Citigroup increased 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 report on Monday, November 25th. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, Bank of New York Mellon has a consensus rating of “Moderate Buy” and a consensus price target of $88.00.

Bank of New York Mellon Trading Up 0.1 %

BK opened at $87.29 on Friday. The Bank of New York Mellon Co. has a one year low of $52.64 and a one year high of $89.44. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.69 and a quick ratio of 0.70. The business has a 50 day simple moving average of $82.04 and a two-hundred day simple moving average of $76.36. The firm has a market capitalization of $63.46 billion, a price-to-earnings ratio of 15.02, a PEG ratio of 0.98 and a beta of 1.08.

Bank of New York Mellon (NYSE:BK) last announced its earnings results on Wednesday, January 15th. The bank reported $1.72 EPS for the quarter, beating analysts’ consensus estimates 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 return on equity of 12.68% and a net margin of 11.35%. The firm’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.28 earnings per share. Analysts predict that The Bank of New York Mellon Co. will post 6.94 EPS for the current year.

Bank of New York Mellon Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Monday, January 27th were paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date of this dividend was Monday, January 27th. Bank of New York Mellon’s payout ratio is 32.36%.

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.