The Bank of New York Mellon Co. (NYSE:BK) Stock Position Raised by Arkadios Wealth Advisors

Arkadios Wealth Advisors lifted its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK) by 1,011.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 52,447 shares of the bank’s stock after buying an additional 47,730 shares during the period. Arkadios Wealth Advisors’ holdings in Bank of New York Mellon were worth $4,030,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. McClarren Financial Advisors Inc. grew its position in shares of Bank of New York Mellon by 586.4% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 405 shares of the bank’s stock valued at $29,000 after buying an additional 346 shares during the last quarter. Fortitude Family Office LLC grew its position in shares of Bank of New York Mellon by 130.6% during the 3rd quarter. Fortitude Family Office LLC now owns 611 shares of the bank’s stock valued at $44,000 after buying an additional 346 shares during the last quarter. Grove Bank & Trust grew its position in shares of Bank of New York Mellon by 28.8% during the 3rd quarter. Grove Bank & Trust now owns 644 shares of the bank’s stock valued at $46,000 after buying an additional 144 shares during the last quarter. Ashton Thomas Securities LLC bought a new stake in shares of Bank of New York Mellon during the 3rd quarter valued at about $46,000. Finally, Modus Advisors LLC bought a new stake in shares of Bank of New York Mellon during the 4th quarter valued at about $49,000. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Stock Up 1.3 %

BK stock opened at $83.31 on Friday. The Bank of New York Mellon Co. has a 12 month low of $52.64 and a 12 month high of $83.67. The firm has a market cap of $60.57 billion, a PE ratio of 18.11, a P/E/G ratio of 0.76 and a beta of 1.08. The firm has a 50 day simple moving average of $78.74 and a 200 day simple moving average of $72.08. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.70 and a quick ratio of 0.70.

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 (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.66 billion. During the same quarter in the previous year, the business earned $1.28 earnings per share. The firm’s revenue was up 11.2% compared to the same quarter last year. Equities research analysts forecast that The Bank of New York Mellon Co. will post 5.87 earnings per share for the current fiscal year.

Bank of New York Mellon Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Monday, January 27th will be issued a dividend of $0.47 per share. The ex-dividend date of this dividend is Monday, January 27th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.26%. Bank of New York Mellon’s dividend payout ratio is currently 40.87%.

Analyst Ratings Changes

BK has been the subject of several recent analyst reports. The Goldman Sachs Group upped their target price on shares of Bank of New York Mellon from $74.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Royal Bank of Canada restated a “sector perform” rating and issued a $79.00 target price on shares of Bank of New York Mellon in a research report on Monday, October 14th. Wolfe Research cut shares of Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. Truist Financial upped their target price on shares of Bank of New York Mellon from $91.00 to $93.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Bank of America upped their target price on shares of Bank of New York Mellon from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Thursday. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Bank of New York Mellon currently has a consensus rating of “Moderate Buy” and a consensus target price of $87.14.

Bank of New York Mellon Company 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.