Yoffe Investment Management LLC Takes $784,000 Position in The Bank of New York Mellon Co. (NYSE:BK)

Yoffe Investment Management LLC bought a new position in The Bank of New York Mellon Co. (NYSE:BK) during the fourth quarter, HoldingsChannel reports. The fund bought 10,200 shares of the bank’s stock, valued at approximately $784,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Rockefeller Capital Management L.P. lifted its holdings in Bank of New York Mellon by 0.9% during the third quarter. Rockefeller Capital Management L.P. now owns 29,519 shares of the bank’s stock valued at $2,118,000 after purchasing an additional 250 shares in the last quarter. Benjamin Edwards Inc. lifted its stake in shares of Bank of New York Mellon by 583.0% during the 3rd quarter. Benjamin Edwards Inc. now owns 10,306 shares of the bank’s stock valued at $741,000 after buying an additional 8,797 shares in the last quarter. Hilltop Holdings Inc. boosted its holdings in Bank of New York Mellon by 57.8% in the 3rd quarter. Hilltop Holdings Inc. now owns 8,958 shares of the bank’s stock worth $644,000 after buying an additional 3,282 shares during the period. HighTower Advisors LLC increased its stake in Bank of New York Mellon by 130.1% in the 3rd quarter. HighTower Advisors LLC now owns 326,372 shares of the bank’s stock worth $23,449,000 after buying an additional 184,560 shares in the last quarter. Finally, IHT Wealth Management LLC raised its holdings in Bank of New York Mellon by 6.9% during the third quarter. IHT Wealth Management LLC now owns 14,200 shares of the bank’s stock valued at $1,020,000 after acquiring an additional 917 shares during the period. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Bank of New York Mellon Stock Performance

NYSE:BK opened at $79.89 on Friday. The firm has a market capitalization of $57.36 billion, a PE ratio of 13.75, a PEG ratio of 0.97 and a beta of 1.03. The stock’s fifty day moving average is $85.23 and its 200 day moving average is $79.93. The Bank of New York Mellon Co. has a fifty-two week low of $52.64 and a fifty-two week high of $90.34. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.70 and a current ratio of 0.69.

Bank of New York Mellon (NYSE:BK) last announced its 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. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The business had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.66 billion. During the same quarter in the prior year, the firm posted $1.28 earnings per share. The business’s revenue for the quarter was up 11.2% on a year-over-year basis. On average, sell-side analysts anticipate that The Bank of New York Mellon Co. will post 6.96 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Monday, January 27th were paid a dividend of $0.47 per share. The ex-dividend date was Monday, January 27th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.35%. Bank of New York Mellon’s dividend payout ratio is 32.36%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on BK. Barclays upped their price objective on Bank of New York Mellon from $102.00 to $104.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. StockNews.com lowered shares of Bank of New York Mellon from a “buy” rating to a “hold” rating in a report on Wednesday, February 19th. UBS Group upped their target price on shares of Bank of New York Mellon from $88.00 to $94.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Bank of New York Mellon from $94.00 to $98.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Finally, Wells Fargo & Company boosted their price target on shares of Bank of New York Mellon from $86.00 to $96.00 and gave the stock an “equal weight” rating in a research note on Monday, March 3rd. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $90.07.

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.