Fifth Third Wealth Advisors LLC Raises Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Fifth Third Wealth Advisors LLC lifted its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 4.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,267 shares of the bank’s stock after buying an additional 895 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in Bank of New York Mellon were worth $1,557,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. McClarren Financial Advisors Inc. raised its stake in Bank of New York Mellon by 586.4% in the third quarter. McClarren Financial Advisors Inc. now owns 405 shares of the bank’s stock worth $29,000 after buying an additional 346 shares in the last quarter. Fortitude Family Office LLC increased its holdings in shares of Bank of New York Mellon by 130.6% in the 3rd quarter. Fortitude Family Office LLC now owns 611 shares of the bank’s stock valued at $44,000 after acquiring an additional 346 shares during the period. Modus Advisors LLC bought a new position in shares of Bank of New York Mellon in the 4th quarter worth $49,000. Ashton Thomas Securities LLC purchased a new stake in shares of Bank of New York Mellon during the 3rd quarter worth $46,000. Finally, Grove Bank & Trust boosted its position in Bank of New York Mellon by 28.8% during the third quarter. Grove Bank & Trust now owns 644 shares of the bank’s stock valued at $46,000 after purchasing an additional 144 shares in the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Stock Performance

BK opened at $81.95 on Thursday. 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 12-month low of $52.64 and a 12-month high of $82.72. The firm has a 50 day moving average of $78.58 and a two-hundred day moving average of $71.94. The firm has a market capitalization of $59.58 billion, a PE ratio of 17.82, a P/E/G ratio of 0.91 and a beta of 1.08.

Bank of New York Mellon (NYSE:BK) last issued its earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.18. Bank of New York Mellon had a net margin of 9.44% and a return on equity of 12.06%. The firm had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.66 billion. During the same quarter last year, the company posted $1.28 earnings per share. The firm’s revenue was up 11.2% compared to the same quarter last year. On average, analysts anticipate that The Bank of New York Mellon Co. will post 5.84 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 2.29%. Bank of New York Mellon’s payout ratio is 40.87%.

Analyst Ratings Changes

Several analysts have commented on BK shares. Morgan Stanley decreased their price target on shares of Bank of New York Mellon from $94.00 to $90.00 and set an “overweight” rating for the company in a research report on Friday, January 3rd. Evercore ISI increased their target price on shares of Bank of New York Mellon from $66.00 to $77.00 and gave the company an “in-line” rating in a research report on Monday, October 14th. Wells Fargo & Company lifted their price target on shares of Bank of New York Mellon from $81.00 to $82.00 and gave the stock an “equal weight” rating in a report on Thursday, January 2nd. Barclays increased their price objective on Bank of New York Mellon from $86.00 to $102.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Bank of New York Mellon from $82.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Bank of New York Mellon has an average rating of “Moderate Buy” and an average target price of $82.64.

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.