IFG Advisory LLC Buys 35,582 Shares of The Bank of New York Mellon Co. (NYSE:BK)

IFG Advisory LLC lifted its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 62.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 92,355 shares of the bank’s stock after buying an additional 35,582 shares during the period. IFG Advisory LLC’s holdings in Bank of New York Mellon were worth $4,807,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Brown Brothers Harriman & Co. lifted its stake in shares of Bank of New York Mellon by 97.1% in the 1st quarter. Brown Brothers Harriman & Co. now owns 609 shares of the bank’s stock worth $30,000 after purchasing an additional 300 shares during the period. Sunbelt Securities Inc. purchased a new stake in Bank of New York Mellon in the 1st quarter worth approximately $36,000. Addison Advisors LLC increased its holdings in Bank of New York Mellon by 603.2% in the 3rd quarter. Addison Advisors LLC now owns 879 shares of the bank’s stock worth $37,000 after acquiring an additional 754 shares in the last quarter. First Command Advisory Services Inc. purchased a new stake in Bank of New York Mellon in the 3rd quarter worth approximately $38,000. Finally, Coppell Advisory Solutions Corp. purchased a new stake in Bank of New York Mellon in the 4th quarter worth approximately $45,000. Institutional investors own 85.31% of the company’s stock.

Insider Transactions at Bank of New York Mellon

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

Analyst Upgrades and Downgrades

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

Bank of New York Mellon Price Performance

BK opened at $56.93 on Thursday. The business’s 50-day moving average is $55.38 and its two-hundred day moving average is $49.75. The Bank of New York Mellon Co. has a 1 year low of $39.65 and a 1 year high of $57.45. 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 firm has a market capitalization of $42.86 billion, a PE ratio of 14.34, a price-to-earnings-growth ratio of 1.20 and a beta of 1.11.

Bank of New York Mellon (NYSE:BK) last posted its earnings results on Friday, January 12th. The bank reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.16. Bank of New York Mellon had a return on equity of 11.63% and a net margin of 10.01%. The company had revenue of $4.31 billion for the quarter, compared to analyst estimates of $4.30 billion. During the same quarter in the previous year, the firm earned $1.30 earnings per share. The firm’s quarterly revenue was up 10.0% compared to the same quarter last year. Research analysts anticipate that The Bank of New York Mellon Co. will post 5.26 earnings per share for the current fiscal year.

Bank of New York Mellon Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 2nd. Stockholders of record on Monday, January 22nd were paid a dividend of $0.42 per share. The ex-dividend date of this dividend was Friday, January 19th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.95%. Bank of New York Mellon’s payout ratio is 42.32%.

Bank of New York Mellon 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.