Raymond James Financial Services Advisors Inc. Acquires 1,878 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Raymond James Financial Services Advisors Inc. lifted its holdings in shares of The Bank of New York Mellon Co. (NYSE:BKFree Report) by 1.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 195,888 shares of the bank’s stock after acquiring an additional 1,878 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Bank of New York Mellon were worth $10,196,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brown Brothers Harriman & Co. boosted its position in Bank of New York Mellon by 97.1% during the 1st quarter. Brown Brothers Harriman & Co. now owns 609 shares of the bank’s stock valued at $30,000 after acquiring an additional 300 shares in the last quarter. Sunbelt Securities Inc. purchased a new stake in Bank of New York Mellon in the first quarter worth $36,000. Addison Advisors LLC grew its stake in Bank of New York Mellon by 603.2% in the third quarter. Addison Advisors LLC now owns 879 shares of the bank’s stock worth $37,000 after purchasing an additional 754 shares during the period. First Command Advisory Services Inc. bought a new position in Bank of New York Mellon in the third quarter worth $38,000. Finally, Coppell Advisory Solutions Corp. purchased a new position in Bank of New York Mellon during the fourth quarter valued at $45,000. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on BK. Citigroup increased their price target on shares of Bank of New York Mellon from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, February 14th. Morgan Stanley raised Bank of New York Mellon from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $52.00 to $62.00 in a research report on Tuesday, January 30th. JPMorgan Chase & Co. raised Bank of New York Mellon from a “neutral” rating to an “overweight” rating and set a $54.50 price objective for the company in a research report on Monday, December 18th. UBS Group boosted their target price on Bank of New York Mellon from $54.00 to $62.00 and gave the stock a “buy” rating in a report on Tuesday, January 9th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $58.00 target price on shares of Bank of New York Mellon in a research note on Wednesday, March 27th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Bank of New York Mellon has an average rating of “Hold” and an average price target of $55.65.

Get Our Latest Research Report on BK

Bank of New York Mellon Trading Up 1.2 %

Shares of NYSE:BK opened at $57.62 on Monday. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.72 and a quick ratio of 0.72. The Bank of New York Mellon Co. has a 1 year low of $39.65 and a 1 year high of $57.88. The company has a market cap of $43.38 billion, a P/E ratio of 14.51, a PEG ratio of 1.22 and a beta of 1.11. The stock’s fifty day moving average price is $55.53 and its 200-day moving average price is $49.97.

Bank of New York Mellon (NYSE:BKGet Free Report) last announced its quarterly earnings results on Friday, January 12th. The bank reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.16. The firm had revenue of $4.31 billion for the quarter, compared to the consensus estimate of $4.30 billion. Bank of New York Mellon had a net margin of 10.01% and a return on equity of 11.63%. The business’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.30 EPS. Sell-side analysts expect that The Bank of New York Mellon Co. will post 5.26 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 2nd. Stockholders of record on Monday, January 22nd were issued a dividend of $0.42 per share. The ex-dividend date of this dividend was Friday, January 19th. This represents a $1.68 annualized dividend and a dividend yield of 2.92%. Bank of New York Mellon’s payout ratio is 42.32%.

Insider Transactions at Bank of New York Mellon

In other Bank of New York Mellon news, VP Catherine Keating sold 4,498 shares of the firm’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $54.81, for a total value of $246,535.38. Following the transaction, the vice president now directly owns 123,490 shares of the company’s stock, valued at $6,768,486.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, VP Hanneke Smits sold 15,425 shares of the company’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $55.16, for a total value of $850,843.00. Following the completion of the sale, the vice president now directly owns 119,656 shares in the company, valued at approximately $6,600,224.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Catherine Keating sold 4,498 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $54.81, for a total value of $246,535.38. Following the completion of the transaction, the vice president now directly owns 123,490 shares in the company, valued at $6,768,486.90. The disclosure for this sale can be found here. Company insiders own 0.14% of the company’s stock.

Bank of New York Mellon Company Profile

(Free Report)

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.

Further Reading

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

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