Avior Wealth Management LLC Buys 1,488 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Avior Wealth Management LLC increased its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 33.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,940 shares of the bank’s stock after buying an additional 1,488 shares during the quarter. Avior Wealth Management LLC’s holdings in Bank of New York Mellon were worth $456,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. FMR LLC increased its holdings in Bank of New York Mellon by 78.6% during the 3rd quarter. FMR LLC now owns 19,338,722 shares of the bank’s stock valued at $1,389,680,000 after purchasing an additional 8,512,404 shares in the last quarter. Wellington Management Group LLP increased its holdings in Bank of New York Mellon by 2,707.1% during the 3rd quarter. Wellington Management Group LLP now owns 3,258,967 shares of the bank’s stock valued at $234,189,000 after purchasing an additional 3,142,869 shares in the last quarter. Zacks Investment Management acquired a new stake in Bank of New York Mellon during the 3rd quarter valued at $62,589,000. State Street Corp increased its holdings in Bank of New York Mellon by 2.0% during the 3rd quarter. State Street Corp now owns 33,313,594 shares of the bank’s stock valued at $2,393,915,000 after purchasing an additional 659,096 shares in the last quarter. Finally, National Bank of Canada FI increased its holdings in Bank of New York Mellon by 248.3% during the 3rd quarter. National Bank of Canada FI now owns 858,831 shares of the bank’s stock valued at $61,715,000 after purchasing an additional 612,287 shares in the last quarter. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Stock Up 1.3 %

Shares of Bank of New York Mellon stock opened at $85.82 on Monday. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.83. The Bank of New York Mellon Co. has a 12 month low of $52.64 and a 12 month high of $86.34. The business has a fifty day simple moving average of $79.53 and a 200 day simple moving average of $73.18. The stock has a market cap of $62.39 billion, a PE ratio of 14.77, a price-to-earnings-growth ratio of 0.96 and a beta of 1.08.

Bank of New York Mellon (NYSE:BK) last posted its earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share for the quarter, topping 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%. The company’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.28 earnings per share. Research analysts predict that The Bank of New York Mellon Co. will post 6.86 EPS for the current year.

Bank of New York Mellon Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Monday, January 27th will be issued a dividend of $0.47 per share. The ex-dividend date of this dividend is Monday, January 27th. This represents a $1.88 annualized dividend and a yield of 2.19%. Bank of New York Mellon’s dividend payout ratio is presently 32.36%.

Wall Street Analysts Forecast Growth

BK has been the subject of a number of recent analyst reports. Barclays raised their price target on Bank of New York Mellon from $102.00 to $104.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Morgan Stanley lifted their target price on Bank of New York Mellon from $90.00 to $97.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Wolfe Research cut Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. Truist Financial lifted their target price on Bank of New York Mellon from $91.00 to $93.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Finally, UBS Group lifted their target price on Bank of New York Mellon from $88.00 to $94.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, Bank of New York Mellon presently has an average rating of “Moderate Buy” and a consensus price target of $88.00.

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.