McKinley Carter Wealth Services Inc. Grows Stock Holdings in The Bank of New York Mellon Co. (NYSE:BK)

McKinley Carter Wealth Services Inc. lifted its stake in The Bank of New York Mellon Co. (NYSE:BK) by 1.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,765 shares of the bank’s stock after purchasing an additional 352 shares during the quarter. McKinley Carter Wealth Services Inc.’s holdings in Bank of New York Mellon were worth $2,364,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in BK. McClarren Financial Advisors Inc. boosted 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 worth $29,000 after acquiring an additional 346 shares in the last quarter. Fortitude Family Office LLC boosted its stake in Bank of New York Mellon by 130.6% in the 3rd quarter. Fortitude Family Office LLC now owns 611 shares of the bank’s stock worth $44,000 after purchasing an additional 346 shares in the last quarter. Grove Bank & Trust grew its position in Bank of New York Mellon by 28.8% during the 3rd quarter. Grove Bank & Trust now owns 644 shares of the bank’s stock valued at $46,000 after purchasing an additional 144 shares during the last quarter. Ashton Thomas Securities LLC bought a new stake in Bank of New York Mellon during the 3rd quarter valued at about $46,000. Finally, Modus Advisors LLC purchased a new position in Bank of New York Mellon in the fourth quarter worth about $49,000. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. raised their price target on shares of Bank of New York Mellon from $69.00 to $77.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Barclays lifted their target price on Bank of New York Mellon from $102.00 to $104.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Citigroup upped their price target on Bank of New York Mellon from $75.00 to $82.00 and gave the company a “neutral” rating in a report on Monday, November 25th. Morgan Stanley lifted their price objective on Bank of New York Mellon from $90.00 to $97.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $79.00 target price on shares of Bank of New York Mellon in a research report on Monday, October 14th. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $88.00.

Bank of New York Mellon Price Performance

Bank of New York Mellon stock opened at $86.52 on Wednesday. The Bank of New York Mellon Co. has a 52-week low of $52.64 and a 52-week high of $86.69. The company has a market cap of $62.90 billion, a price-to-earnings ratio of 14.89, a PEG ratio of 0.96 and a beta of 1.08. The firm’s fifty day moving average is $79.85 and its 200 day moving average is $73.59. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.83.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings results on Wednesday, January 15th. The bank reported $1.72 EPS for the quarter, beating 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 the consensus estimate of $4.66 billion. During the same quarter last year, the firm earned $1.28 EPS. The firm’s revenue for the quarter was up 11.2% compared to the same quarter last year. Sell-side analysts forecast that The Bank of New York Mellon Co. will post 6.86 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Monday, January 27th will be issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date is Monday, January 27th. Bank of New York Mellon’s dividend payout ratio (DPR) is 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.