Empirical Financial Services LLC d.b.a. Empirical Wealth Management Increases Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its stake in The Bank of New York Mellon Co. (NYSE:BK) by 130.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,177 shares of the bank’s stock after acquiring an additional 4,065 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Bank of New York Mellon were worth $551,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Geneos Wealth Management Inc. lifted its position in Bank of New York Mellon by 4.4% in the 4th quarter. Geneos Wealth Management Inc. now owns 9,589 shares of the bank’s stock valued at $737,000 after acquiring an additional 400 shares in the last quarter. Fifth Third Bancorp raised its stake in shares of Bank of New York Mellon by 9.2% in the fourth quarter. Fifth Third Bancorp now owns 94,046 shares of the bank’s stock worth $7,226,000 after purchasing an additional 7,935 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Bank of New York Mellon during the fourth quarter valued at $342,000. Exchange Traded Concepts LLC boosted its position in shares of Bank of New York Mellon by 3.7% during the fourth quarter. Exchange Traded Concepts LLC now owns 167,092 shares of the bank’s stock valued at $12,838,000 after buying an additional 5,977 shares during the last quarter. Finally, CX Institutional increased its holdings in Bank of New York Mellon by 1.8% in the 4th quarter. CX Institutional now owns 8,588 shares of the bank’s stock worth $660,000 after buying an additional 153 shares in the last quarter. 85.31% of the stock is currently owned by institutional investors.

Bank of New York Mellon Stock Down 0.2 %

BK opened at $86.14 on Thursday. The stock has a market cap of $62.63 billion, a price-to-earnings ratio of 14.83, a price-to-earnings-growth ratio of 0.96 and a beta of 1.08. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.70 and a current ratio of 0.69. The firm’s fifty day moving average is $79.85 and its 200 day moving average is $73.59. The Bank of New York Mellon Co. has a fifty-two week low of $52.64 and a fifty-two week high of $87.70.

Bank of New York Mellon (NYSE:BK) last issued 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 during the quarter, compared to analyst estimates 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 business’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.28 earnings per share. On average, sell-side analysts forecast that The Bank of New York Mellon Co. will post 6.86 earnings per share for the current fiscal year.

Bank of New York Mellon Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Monday, January 27th will be given a dividend of $0.47 per share. The ex-dividend date of this dividend is Monday, January 27th. This represents a $1.88 annualized dividend and a yield of 2.18%. Bank of New York Mellon’s dividend payout ratio (DPR) is currently 32.36%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Keefe, Bruyette & Woods raised 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 report on Tuesday, December 3rd. Wells Fargo & Company boosted their target price on shares of Bank of New York Mellon from $82.00 to $86.00 and gave the company an “equal weight” rating in a research note on Thursday, January 16th. Citigroup raised their price target on Bank of New York Mellon from $75.00 to $82.00 and gave the stock a “neutral” rating in a research note on Monday, November 25th. UBS Group upped their price objective on Bank of New York Mellon from $88.00 to $94.00 and gave the company a “buy” rating in a research report on Tuesday, January 21st. Finally, StockNews.com raised Bank of New York Mellon from a “hold” rating to a “buy” rating in a research report on Tuesday. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Bank of New York Mellon presently has a consensus rating of “Moderate Buy” and a consensus price target of $88.00.

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.