BNC Wealth Management LLC Takes Position in The Bank of New York Mellon Co. (NYSE:BK)

BNC Wealth Management LLC purchased a new position in shares of The Bank of New York Mellon Co. (NYSE:BK) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 50,496 shares of the bank’s stock, valued at approximately $3,880,000. Bank of New York Mellon makes up about 1.3% of BNC Wealth Management LLC’s holdings, making the stock its 27th largest position.

Other institutional investors also recently modified their holdings of the company. Kera Capital Partners Inc. acquired a new position in Bank of New York Mellon in the 4th quarter worth about $202,000. HB Wealth Management LLC grew its position in shares of Bank of New York Mellon by 37.9% in the 4th quarter. HB Wealth Management LLC now owns 18,815 shares of the bank’s stock valued at $1,446,000 after buying an additional 5,172 shares during the last quarter. Trust Co. of Vermont grew its position in shares of Bank of New York Mellon by 11.3% in the 4th quarter. Trust Co. of Vermont now owns 9,358 shares of the bank’s stock valued at $719,000 after buying an additional 949 shares during the last quarter. Premier Path Wealth Partners LLC grew its position in shares of Bank of New York Mellon by 1.4% in the 4th quarter. Premier Path Wealth Partners LLC now owns 23,044 shares of the bank’s stock valued at $1,770,000 after buying an additional 319 shares during the last quarter. Finally, Sanibel Captiva Trust Company Inc. grew its position in shares of Bank of New York Mellon by 3.2% in the 4th quarter. Sanibel Captiva Trust Company Inc. now owns 15,966 shares of the bank’s stock valued at $1,227,000 after buying an additional 494 shares during the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Bank of New York Mellon Stock Performance

Shares of BK opened at $83.31 on Friday. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.70 and a quick ratio of 0.70. The Bank of New York Mellon Co. has a one year low of $52.64 and a one year high of $83.67. The company has a 50-day simple moving average of $78.87 and a two-hundred day simple moving average of $72.24. The firm has a market capitalization of $60.57 billion, a PE ratio of 18.11, a price-to-earnings-growth ratio of 0.76 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.18. Bank of New York Mellon had a net margin of 9.44% and a return on equity of 12.06%. The firm had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.66 billion. During the same period last year, the business earned $1.28 earnings per share. The business’s revenue was up 11.2% on a year-over-year basis. On average, analysts anticipate that The Bank of New York Mellon Co. will post 5.87 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Monday, January 27th will be given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date is Monday, January 27th. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 40.87%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Royal Bank of Canada restated a “sector perform” rating and set a $79.00 target price on shares of Bank of New York Mellon in a research report on Monday, October 14th. Citigroup upped their target price on Bank of New York Mellon from $75.00 to $82.00 and gave the company a “neutral” rating in a research report on Monday, November 25th. Bank of America increased their price target on Bank of New York Mellon from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Thursday. Barclays increased their price target on Bank of New York Mellon from $102.00 to $104.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Keefe, Bruyette & Woods increased their price target on Bank of New York Mellon from $87.00 to $96.00 and gave the stock an “outperform” rating in a report on Tuesday, December 3rd. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $87.14.

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.