The Bank of New York Mellon Co. (NYSE:BK) Shares Bought by Atria Investments Inc

Atria Investments Inc grew its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK) by 8.5% in the fourth quarter, HoldingsChannel reports. The fund owned 81,201 shares of the bank’s stock after buying an additional 6,335 shares during the period. Atria Investments Inc’s holdings in Bank of New York Mellon were worth $6,239,000 as of its most recent filing with the SEC.

Other institutional investors also recently added to or reduced their stakes in the company. Centricity Wealth Management LLC acquired a new position in Bank of New York Mellon during the 4th quarter worth $39,000. Ashton Thomas Securities LLC acquired a new stake in shares of Bank of New York Mellon in the third quarter valued at $46,000. Modus Advisors LLC acquired a new stake in shares of Bank of New York Mellon in the fourth quarter valued at $49,000. Friedenthal Financial acquired a new stake in shares of Bank of New York Mellon in the fourth quarter valued at $56,000. Finally, Asset Dedication LLC lifted its holdings in shares of Bank of New York Mellon by 342.1% in the fourth quarter. Asset Dedication LLC now owns 756 shares of the bank’s stock valued at $58,000 after buying an additional 585 shares during the period. Institutional investors and hedge funds own 85.31% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. UBS Group upped their price objective on Bank of New York Mellon from $88.00 to $94.00 and gave the company a “buy” rating in a report on Tuesday, January 21st. Morgan Stanley upped their price objective on Bank of New York Mellon from $90.00 to $97.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Wells Fargo & Company upped their price objective on Bank of New York Mellon from $86.00 to $96.00 and gave the company an “equal weight” rating in a report on Monday. Keefe, Bruyette & Woods upped their price objective on Bank of New York Mellon from $87.00 to $96.00 and gave the company an “outperform” rating in a report on Tuesday, December 3rd. Finally, Bank of America upped their target price on 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. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $88.71.

Bank of New York Mellon Stock Down 2.2 %

NYSE:BK opened at $84.65 on Friday. The firm has a market capitalization of $60.64 billion, a price-to-earnings ratio of 14.57, a PEG ratio of 0.97 and a beta of 1.06. The Bank of New York Mellon Co. has a 1-year low of $52.64 and a 1-year high of $90.34. 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 business’s fifty day moving average price is $83.68 and its 200 day moving average price is $77.71.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.18. The firm had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.66 billion. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. Bank of New York Mellon’s quarterly revenue was up 11.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.28 earnings per share. On average, sell-side analysts forecast that The Bank of New York Mellon Co. will post 6.96 earnings per share for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Monday, January 27th were given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 2.22%. The ex-dividend date was Monday, January 27th. Bank of New York Mellon’s payout ratio 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.