Ritter Daniher Financial Advisory LLC DE Invests $474,000 in The Bank of New York Mellon Corporation $BK

Ritter Daniher Financial Advisory LLC DE acquired a new position in shares of The Bank of New York Mellon Corporation (NYSE:BK) in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund acquired 4,352 shares of the bank’s stock, valued at approximately $474,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BK. Valley Wealth Managers Inc. purchased a new position in Bank of New York Mellon during the third quarter worth $33,000. SYM FINANCIAL Corp purchased a new stake in shares of Bank of New York Mellon in the third quarter valued at $237,000. Summit Global Investments increased its position in Bank of New York Mellon by 10.8% during the 3rd quarter. Summit Global Investments now owns 16,971 shares of the bank’s stock worth $1,849,000 after purchasing an additional 1,661 shares in the last quarter. Foundations Investment Advisors LLC raised its stake in Bank of New York Mellon by 9.0% in the 3rd quarter. Foundations Investment Advisors LLC now owns 9,485 shares of the bank’s stock valued at $1,034,000 after purchasing an additional 787 shares during the last quarter. Finally, GPS Wealth Strategies Group LLC boosted its stake in shares of Bank of New York Mellon by 12.4% during the 3rd quarter. GPS Wealth Strategies Group LLC now owns 1,807 shares of the bank’s stock worth $197,000 after purchasing an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Stock Performance

NYSE:BK opened at $121.33 on Friday. The Bank of New York Mellon Corporation has a twelve month low of $70.46 and a twelve month high of $125.89. The firm has a market capitalization of $84.61 billion, a price-to-earnings ratio of 16.37, a PEG ratio of 1.11 and a beta of 1.11. The company has a current ratio of 0.71, a quick ratio of 0.70 and a debt-to-equity ratio of 0.81. The firm’s fifty day simple moving average is $116.93 and its 200 day simple moving average is $109.21.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings data on Friday, October 31st. The bank reported $1.91 EPS for the quarter. The company had revenue of $5.07 billion for the quarter. Bank of New York Mellon had a return on equity of 14.37% and a net margin of 13.62%. As a group, equities research analysts expect that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 5th. Stockholders of record on Friday, January 23rd will be paid a dividend of $0.53 per share. The ex-dividend date is Friday, January 23rd. This represents a $2.12 annualized dividend and a dividend yield of 1.7%. Bank of New York Mellon’s dividend payout ratio (DPR) is currently 28.61%.

Wall Street Analyst Weigh In

BK has been the topic of several analyst reports. BMO Capital Markets assumed coverage on Bank of New York Mellon in a report on Friday, October 3rd. They set an “outperform” rating and a $125.00 price objective on the stock. TD Cowen increased their target price on Bank of New York Mellon from $133.00 to $145.00 and gave the stock a “buy” rating in a research report on Wednesday, January 7th. Keefe, Bruyette & Woods lifted their price target on Bank of New York Mellon from $132.00 to $143.00 and gave the company an “outperform” rating in a report on Wednesday, January 14th. New Street Research set a $143.00 price objective on shares of Bank of New York Mellon in a research note on Wednesday, January 14th. Finally, Barclays raised their target price on shares of Bank of New York Mellon from $120.00 to $143.00 and gave the stock an “overweight” rating in a research report on Monday, January 5th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Bank of New York Mellon presently has an average rating of “Moderate Buy” and a consensus price target of $131.92.

Bank of New York Mellon Profile

Bank of New York Mellon Corporation (BNY Mellon) is a global financial services company headquartered in New York City that provides a wide range of asset servicing, custody, and related financial infrastructure solutions to institutional clients. Its core businesses include custody and asset servicing, clearing and collateral management, treasury services, securities lending, corporate trust services, and depositary receipt administration. The company also offers investment management and advisory services through its asset management arm and provides technology-enabled solutions for trade processing, foreign exchange, and liquidity management.

BNY Mellon serves a broad client base that includes asset managers, pension funds, corporations, banks, broker-dealers and sovereign entities.