West Paces Advisors Inc. Increases Stock Position in The Bank of New York Mellon Co. (NYSE:BK)

West Paces Advisors Inc. lifted its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK) by 177.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 1,964 shares of the bank’s stock after purchasing an additional 1,257 shares during the quarter. West Paces Advisors Inc.’s holdings in Bank of New York Mellon were worth $102,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of BK. Brown Brothers Harriman & Co. grew its position in 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 valued at $30,000 after buying an additional 300 shares during the last quarter. Hartford Financial Management Inc. grew its position in Bank of New York Mellon by 41.4% in the 4th quarter. Hartford Financial Management Inc. now owns 625 shares of the bank’s stock valued at $33,000 after buying an additional 183 shares during the last quarter. Sunbelt Securities Inc. purchased a new stake in shares of Bank of New York Mellon during the 1st quarter worth $36,000. Addison Advisors LLC boosted its position in shares of Bank of New York Mellon by 603.2% during the 3rd quarter. Addison Advisors LLC now owns 879 shares of the bank’s stock worth $37,000 after purchasing an additional 754 shares in the last quarter. Finally, First Command Advisory Services Inc. purchased a new stake in shares of Bank of New York Mellon during the 3rd quarter worth $38,000. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Bank of New York Mellon

In related news, VP Catherine Keating sold 4,498 shares of the business’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $54.81, for a total value of $246,535.38. Following the completion of the transaction, the vice president now owns 123,490 shares of the company’s stock, valued at approximately $6,768,486.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.14% of the stock is currently owned by corporate insiders.

Bank of New York Mellon Trading Down 2.0 %

NYSE:BK opened at $53.99 on Wednesday. The company has a market capitalization of $40.64 billion, a PE ratio of 13.60, a price-to-earnings-growth ratio of 1.18 and a beta of 1.12. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.87. The Bank of New York Mellon Co. has a 52-week low of $39.65 and a 52-week high of $58.28. The stock has a fifty day simple moving average of $55.75 and a 200-day simple moving average of $51.08.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings results on Tuesday, April 16th. The bank reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.10. Bank of New York Mellon had a return on equity of 11.63% and a net margin of 10.01%. The business had revenue of $4.53 billion during the quarter, compared to the consensus estimate of $4.39 billion. During the same quarter in the previous year, the company posted $1.13 EPS. The business’s revenue was up 3.8% on a year-over-year basis. On average, equities research analysts expect that The Bank of New York Mellon Co. will post 5.33 earnings per share for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 9th. Investors of record on Friday, April 26th will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 3.11%. The ex-dividend date is Thursday, April 25th. Bank of New York Mellon’s payout ratio is 42.32%.

Analysts Set New Price Targets

Several brokerages have commented on BK. UBS Group boosted their target price on shares of Bank of New York Mellon from $54.00 to $62.00 and gave the stock a “buy” rating in a research report on Tuesday, January 9th. Royal Bank of Canada restated a “sector perform” rating and set a $58.00 target price on shares of Bank of New York Mellon in a research report on Wednesday, March 27th. Citigroup boosted their target price on shares of Bank of New York Mellon from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, February 14th. Morgan Stanley upgraded shares of Bank of New York Mellon from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $52.00 to $62.00 in a research report on Tuesday, January 30th. Finally, Evercore ISI boosted their target price on shares of Bank of New York Mellon from $57.00 to $61.00 and gave the stock an “in-line” rating in a research report on Thursday, April 4th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $56.72.

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.