Vivid Wealth Management LLC Invests $2.24 Million in The Bank of New York Mellon Co. (NYSE:BK)

Vivid Wealth Management LLC bought a new position in shares of The Bank of New York Mellon Co. (NYSE:BK) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 29,197 shares of the bank’s stock, valued at approximately $2,243,000.

Several other large investors also recently bought and sold shares of BK. United Advisor Group LLC purchased a new position in Bank of New York Mellon during the third quarter worth about $595,000. Czech National Bank grew its position in shares of Bank of New York Mellon by 4.9% during the fourth quarter. Czech National Bank now owns 157,645 shares of the bank’s stock worth $12,112,000 after acquiring an additional 7,316 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of Bank of New York Mellon by 1.7% during the third quarter. Principal Financial Group Inc. now owns 883,853 shares of the bank’s stock worth $63,514,000 after acquiring an additional 14,916 shares during the last quarter. Chase Investment Counsel Corp grew its position in Bank of New York Mellon by 67.2% in the 3rd quarter. Chase Investment Counsel Corp now owns 83,530 shares of the bank’s stock valued at $6,002,000 after buying an additional 33,558 shares during the last quarter. Finally, HighTower Advisors LLC grew its position in Bank of New York Mellon by 130.1% in the 3rd quarter. HighTower Advisors LLC now owns 326,372 shares of the bank’s stock valued at $23,449,000 after buying an additional 184,560 shares during the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Stock Performance

Bank of New York Mellon stock opened at $87.94 on Friday. 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 firm has a 50-day moving average of $81.08 and a 200-day moving average of $75.26. The firm has a market cap of $63.94 billion, a P/E ratio of 15.14, a P/E/G ratio of 0.98 and a beta of 1.08. The Bank of New York Mellon Co. has a 1-year low of $52.64 and a 1-year high of $88.25.

Bank of New York Mellon (NYSE:BK) last posted its earnings results on Wednesday, January 15th. The bank reported $1.72 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.18. The business 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 net margin of 11.35% and a return on equity of 12.68%. The firm’s revenue was up 11.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.28 EPS. Sell-side analysts expect that The Bank of New York Mellon Co. will post 6.89 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Monday, January 27th were given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 2.14%. The ex-dividend date of this dividend was Monday, January 27th. Bank of New York Mellon’s dividend payout ratio is 32.36%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on BK shares. StockNews.com downgraded Bank of New York Mellon from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Deutsche Bank Aktiengesellschaft upped their price target on Bank of New York Mellon from $94.00 to $98.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Evercore ISI upped their target price on Bank of New York Mellon from $79.00 to $83.00 and gave the company an “in-line” rating in a research report on Thursday, January 16th. UBS Group upped their price target 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, Morgan Stanley increased their target price on Bank of New York Mellon from $90.00 to $97.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price 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.