Realta Investment Advisors Takes $474,000 Position in The Bank of New York Mellon Co. (NYSE:BK)

Realta Investment Advisors purchased a new position in shares of The Bank of New York Mellon Co. (NYSE:BK) in the fourth quarter, Holdings Channel reports. The fund purchased 6,165 shares of the bank’s stock, valued at approximately $474,000.

Several other hedge funds also recently added to or reduced their stakes in the business. McClarren Financial Advisors Inc. increased its holdings 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 valued at $29,000 after buying an additional 346 shares in the last quarter. Fortitude Family Office LLC grew its position 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 period. Grove Bank & Trust raised 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 worth $46,000 after purchasing an additional 144 shares during the last quarter. Ashton Thomas Securities LLC purchased a new position in Bank of New York Mellon in the 3rd quarter valued at about $46,000. Finally, Modus Advisors LLC acquired a new stake in Bank of New York Mellon in the 4th quarter worth about $49,000. 85.31% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Wolfe Research downgraded Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. Evercore ISI raised their price objective on Bank of New York Mellon from $79.00 to $83.00 and gave the company an “in-line” rating in a report on Thursday, January 16th. Barclays increased their target price on shares of Bank of New York Mellon from $102.00 to $104.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Bank of America lifted 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 note on Thursday, January 16th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Bank of New York Mellon from $87.00 to $96.00 and gave the stock an “outperform” rating in a report on Tuesday, December 3rd. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $88.00.

Bank of New York Mellon Trading Up 0.7 %

Shares of NYSE BK opened at $86.35 on Friday. The stock has a fifty day simple moving average of $80.61 and a 200-day simple moving average of $74.51. The Bank of New York Mellon Co. has a twelve month low of $52.64 and a twelve month high of $87.70. The company has a current ratio of 0.69, a quick ratio of 0.70 and a debt-to-equity ratio of 0.83. The stock has a market capitalization of $62.78 billion, a PE ratio of 14.86, a PEG ratio of 0.98 and a beta of 1.08.

Bank of New York Mellon (NYSE:BK) last released its earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.18. The company had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.66 billion. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. Bank of New York Mellon’s revenue was up 11.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.28 EPS. On average, equities analysts forecast that The Bank of New York Mellon Co. will post 6.86 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Shareholders 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 yield of 2.18%. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 32.36%.

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.