Portfolio Design Labs LLC Makes New Investment in The Bank of New York Mellon Co. (NYSE:BK)

Portfolio Design Labs LLC bought a new position in shares of The Bank of New York Mellon Co. (NYSE:BK) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 3,319 shares of the bank’s stock, valued at approximately $255,000.

Several other hedge funds have also recently bought and sold shares of BK. McClarren Financial Advisors Inc. raised its holdings in shares of 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 valued at $29,000 after purchasing an additional 346 shares during the last quarter. Fortitude Family Office LLC raised its holdings in shares of Bank of New York Mellon by 130.6% in the third quarter. Fortitude Family Office LLC now owns 611 shares of the bank’s stock valued at $44,000 after purchasing an additional 346 shares during the last quarter. Modus Advisors LLC acquired a new stake in shares of Bank of New York Mellon in the fourth quarter valued at approximately $49,000. Ashton Thomas Securities LLC acquired a new stake in shares of Bank of New York Mellon in the third quarter valued at approximately $46,000. Finally, Grove Bank & Trust raised its holdings in shares of Bank of New York Mellon by 28.8% in 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 during the last quarter. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Bank of New York Mellon Price Performance

NYSE:BK opened at $85.30 on Thursday. The Bank of New York Mellon Co. has a one year low of $52.64 and a one year high of $87.70. The company has a market cap of $62.02 billion, a P/E ratio of 14.68, a P/E/G ratio of 0.98 and a beta of 1.08. The firm’s fifty day moving average price is $80.87 and its two-hundred day moving average price is $75.11. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.69 and a quick ratio of 0.70.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings data on Wednesday, January 15th. The bank reported $1.72 EPS for the quarter, beating the consensus estimate of $1.54 by $0.18. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The firm had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.66 billion. During the same period in the previous year, the company earned $1.28 earnings per share. The company’s quarterly revenue was up 11.2% on a year-over-year basis. Equities analysts expect that The Bank of New York Mellon Co. will post 6.89 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Monday, January 27th were paid a $0.47 dividend. The ex-dividend date was Monday, January 27th. This represents a $1.88 annualized dividend and a dividend yield of 2.20%. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 32.36%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on BK. Citigroup lifted their price objective on shares of Bank of New York Mellon from $75.00 to $82.00 and gave the company a “neutral” rating in a report on Monday, November 25th. Wolfe Research downgraded shares of Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. UBS Group raised their target price on shares of Bank of New York Mellon from $88.00 to $94.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. Morgan Stanley boosted their target price on shares of Bank of New York Mellon from $90.00 to $97.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Finally, Evercore ISI boosted their target price on shares of Bank of New York Mellon from $79.00 to $83.00 and gave the stock an “in-line” rating in a report on Thursday, January 16th. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $88.00.

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.