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

Capital Investment Advisors LLC bought a new position in shares of The Bank of New York Mellon Co. (NYSE:BK) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 2,812 shares of the bank’s stock, valued at approximately $216,000.

Several other institutional investors and hedge funds have also recently modified their holdings of BK. Studio Investment Management LLC increased its holdings in Bank of New York Mellon by 2.1% during the 3rd quarter. Studio Investment Management LLC now owns 6,636 shares of the bank’s stock worth $477,000 after purchasing an additional 134 shares during the period. Stanley Laman Group Ltd. grew its position in shares of Bank of New York Mellon by 2.2% during the 3rd quarter. Stanley Laman Group Ltd. now owns 6,198 shares of the bank’s stock worth $445,000 after buying an additional 135 shares in the last quarter. Avidian Wealth Enterprises LLC increased its stake in shares of Bank of New York Mellon by 2.0% during the third quarter. Avidian Wealth Enterprises LLC now owns 7,024 shares of the bank’s stock valued at $505,000 after buying an additional 137 shares during the period. Frank Rimerman Advisors LLC raised its holdings in shares of Bank of New York Mellon by 1.1% in the third quarter. Frank Rimerman Advisors LLC now owns 12,908 shares of the bank’s stock valued at $928,000 after acquiring an additional 142 shares in the last quarter. Finally, Sigma Planning Corp lifted its stake in Bank of New York Mellon by 2.7% in the third quarter. Sigma Planning Corp now owns 5,470 shares of the bank’s stock worth $393,000 after acquiring an additional 143 shares during the period. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Stock Up 0.3 %

NYSE:BK opened at $82.28 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 twelve month low of $52.64 and a twelve month high of $82.72. The company has a market cap of $59.83 billion, a PE ratio of 17.89, a P/E/G ratio of 0.76 and a beta of 1.08. The company’s 50 day moving average is $78.65 and its two-hundred day moving average is $72.01.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings data 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 analyst estimates 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 business’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.28 earnings per share. Analysts anticipate that The Bank of New York Mellon Co. will post 5.87 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Monday, January 27th will be paid a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 2.28%. The ex-dividend date is Monday, January 27th. Bank of New York Mellon’s payout ratio is 32.36%.

Analyst Ratings Changes

Several equities research analysts have recently commented on BK shares. Royal Bank of Canada restated a “sector perform” rating and issued a $79.00 price target on shares of Bank of New York Mellon in a report on Monday, October 14th. JPMorgan Chase & Co. boosted their price objective on shares of Bank of New York Mellon from $69.00 to $77.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Wells Fargo & Company increased their target price on Bank of New York Mellon from $82.00 to $86.00 and gave the company an “equal weight” rating in a research report on Thursday. Keefe, Bruyette & Woods boosted their price target on Bank of New York Mellon from $87.00 to $96.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. Finally, Truist Financial raised their price objective on Bank of New York Mellon from $91.00 to $93.00 and gave the company a “buy” rating in a research report on Thursday. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, Bank of New York Mellon currently has an average rating of “Moderate Buy” and a consensus price target of $87.14.

Bank of New York Mellon 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.