Howard Capital Management Inc. Acquires 252 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Howard Capital Management Inc. boosted its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK) by 5.4% in the fourth quarter, Holdings Channel reports. The firm owned 4,936 shares of the bank’s stock after purchasing an additional 252 shares during the quarter. Howard Capital Management Inc.’s holdings in Bank of New York Mellon were worth $379,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Centricity Wealth Management LLC bought a new position in shares of Bank of New York Mellon in the fourth quarter valued at approximately $39,000. Fortitude Family Office LLC raised its stake 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 acquiring an additional 346 shares during the last quarter. Ashton Thomas Securities LLC bought a new position in shares of Bank of New York Mellon in the third quarter valued at approximately $46,000. Modus Advisors LLC bought a new position in shares of Bank of New York Mellon in the fourth quarter valued at approximately $49,000. Finally, Concord Wealth Partners raised its stake in shares of Bank of New York Mellon by 150.5% in the third quarter. Concord Wealth Partners now owns 754 shares of the bank’s stock valued at $54,000 after acquiring an additional 453 shares during the last quarter. Institutional investors own 85.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Barclays lifted 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 note on Thursday, January 16th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Bank of New York Mellon from $94.00 to $98.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Evercore ISI lifted their target price on shares of Bank of New York Mellon from $79.00 to $83.00 and gave the company an “in-line” rating in a research note on Thursday, January 16th. Bank of America raised their price target on shares of Bank of New York Mellon from $90.00 to $95.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Finally, StockNews.com lowered shares of Bank of New York Mellon from a “buy” rating to a “hold” rating in a report on Wednesday, February 19th. Six analysts have rated the stock with a hold rating and ten have given 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 price target of $88.00.

Bank of New York Mellon Price Performance

BK opened at $87.97 on Tuesday. The company has a fifty day moving average price of $82.21 and a two-hundred day moving average price of $76.64. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.70 and a current ratio of 0.69. The Bank of New York Mellon Co. has a 52 week low of $52.64 and a 52 week high of $89.44. The firm has a market capitalization of $63.96 billion, a PE ratio of 15.14, a P/E/G 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 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $4.66 billion. During the same quarter in the previous year, the business earned $1.28 EPS. The business’s quarterly revenue was up 11.2% compared to the same quarter last year. As a group, analysts anticipate that The Bank of New York Mellon Co. will post 6.94 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Monday, January 27th were issued a $0.47 dividend. 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 (DPR) is 32.36%.

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.