NuWave Investment Management LLC Acquires Shares of 4,430 The Bank of New York Mellon Co. (NYSE:BK)

NuWave Investment Management LLC acquired a new stake in The Bank of New York Mellon Co. (NYSE:BKGet Rating) in the 1st quarter, according to the company in its most recent filing with the SEC. The firm acquired 4,430 shares of the bank’s stock, valued at approximately $220,000.

Other large investors have also recently bought and sold shares of the company. Equitec Proprietary Markets LLC purchased a new stake in Bank of New York Mellon in the 4th quarter valued at about $27,000. Fieldpoint Private Securities LLC increased its stake in Bank of New York Mellon by 125.6% in the 4th quarter. Fieldpoint Private Securities LLC now owns 485 shares of the bank’s stock valued at $28,000 after buying an additional 270 shares during the last quarter. Ellis Investment Partners LLC increased its stake in Bank of New York Mellon by 100.7% in the 4th quarter. Ellis Investment Partners LLC now owns 606 shares of the bank’s stock valued at $35,000 after buying an additional 304 shares during the last quarter. McClarren Financial Advisors Inc. increased its stake in shares of Bank of New York Mellon by 69.1% during the 4th quarter. McClarren Financial Advisors Inc. now owns 624 shares of the bank’s stock worth $37,000 after purchasing an additional 255 shares during the last quarter. Finally, Dividend Assets Capital LLC purchased a new stake in shares of Bank of New York Mellon during the 1st quarter worth approximately $32,000. Hedge funds and other institutional investors own 83.69% of the company’s stock.

BK opened at $42.23 on Thursday. The company has a 50 day moving average of $44.10 and a 200 day moving average of $51.99. The company has a market cap of $34.11 billion, a PE ratio of 10.45, a price-to-earnings-growth ratio of 1.60 and a beta of 1.14. The Bank of New York Mellon Co. has a 12 month low of $40.26 and a 12 month high of $64.63. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.69.

Bank of New York Mellon (NYSE:BKGet Rating) last announced its quarterly earnings results on Monday, April 18th. The bank reported $0.86 EPS for the quarter, meeting the consensus estimate of $0.86. Bank of New York Mellon had a net margin of 22.31% and a return on equity of 9.33%. The firm had revenue of $3.93 billion during the quarter, compared to the consensus estimate of $3.94 billion. During the same period last year, the firm earned $0.97 EPS. The business’s quarterly revenue was up .1% compared to the same quarter last year. Research analysts forecast that The Bank of New York Mellon Co. will post 4.41 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 11th. Shareholders of record on Thursday, April 28th were issued a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 3.22%. The ex-dividend date was Wednesday, April 27th. Bank of New York Mellon’s payout ratio is 33.66%.

Several equities research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft lowered shares of Bank of New York Mellon from a “buy” rating to a “hold” rating and decreased their price target for the stock from $54.00 to $45.00 in a research note on Thursday, May 19th. Wolfe Research lowered shares of Bank of New York Mellon from an “outperform” rating to a “peer perform” rating and set a $55.00 price target for the company. in a research note on Thursday, March 31st. Royal Bank of Canada decreased their price target on shares of Bank of New York Mellon from $60.00 to $56.00 and set a “sector perform” rating for the company in a research note on Tuesday, April 19th. Morgan Stanley decreased their price target on shares of Bank of New York Mellon from $55.00 to $53.00 and set an “equal weight” rating for the company in a research note on Thursday, June 2nd. Finally, The Goldman Sachs Group decreased their price target on shares of Bank of New York Mellon from $60.00 to $51.50 and set a “neutral” rating for the company in a research note on Tuesday, April 19th. Eleven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $56.38.

Bank of New York Mellon Profile (Get Rating)

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, prime brokerage, and data analytics.

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Institutional Ownership by Quarter for Bank of New York Mellon (NYSE:BK)

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