Smith Moore & CO. Acquires Shares of 4,038 The Bank of New York Mellon Co. (NYSE:BK)

Smith Moore & CO. acquired a new stake in The Bank of New York Mellon Co. (NYSE:BK) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 4,038 shares of the bank’s stock, valued at approximately $310,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in BK. Graney & King LLC acquired a new stake in Bank of New York Mellon during the 4th quarter valued at $35,000. Centricity Wealth Management LLC bought a new position in shares of Bank of New York Mellon in the fourth quarter valued at about $39,000. TCTC Holdings LLC boosted its holdings in shares of Bank of New York Mellon by 257.5% during the 4th quarter. TCTC Holdings LLC now owns 597 shares of the bank’s stock worth $46,000 after buying an additional 430 shares during the period. Modus Advisors LLC acquired a new position in Bank of New York Mellon in the 4th quarter valued at about $49,000. Finally, Friedenthal Financial bought a new position in Bank of New York Mellon in the 4th quarter valued at about $56,000. 85.31% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft boosted their price objective on Bank of New York Mellon from $94.00 to $98.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Evercore ISI upped their price objective on Bank of New York Mellon from $83.00 to $87.00 and gave the company an “in-line” rating in a report on Tuesday, April 1st. Wolfe Research cut Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. Morgan Stanley reduced their target price on shares of Bank of New York Mellon from $99.00 to $98.00 and set an “overweight” rating for the company in a research report on Wednesday. Finally, StockNews.com lowered shares of Bank of New York Mellon from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $89.86.

Bank of New York Mellon Trading Down 8.4 %

NYSE BK opened at $73.17 on Friday. The Bank of New York Mellon Co. has a twelve month low of $52.64 and a twelve month high of $90.34. The business’s fifty day moving average is $84.98 and its 200 day moving average is $80.02. 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 market cap of $52.53 billion, a price-to-earnings ratio of 12.59, a price-to-earnings-growth ratio of 0.97 and a beta of 1.03.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.18. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. The company had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.66 billion. During the same period in the previous year, the business posted $1.28 earnings per share. The business’s quarterly revenue was up 11.2% compared to the same quarter last year. As a group, sell-side analysts expect that The Bank of New York Mellon Co. will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

The business 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. The ex-dividend date was Monday, January 27th. This represents a $1.88 dividend on an annualized basis and a yield of 2.57%. Bank of New York Mellon’s payout ratio is 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.