Wesbanco Bank Inc. Has $645,000 Stake in The Bank of New York Mellon Co. (NYSE:BK)

Wesbanco Bank Inc. grew its stake in The Bank of New York Mellon Co. (NYSE:BK) by 3.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,398 shares of the bank’s stock after purchasing an additional 297 shares during the period. Wesbanco Bank Inc.’s holdings in Bank of New York Mellon were worth $645,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. McClarren Financial Advisors Inc. boosted its position in Bank of New York Mellon by 586.4% in the third quarter. McClarren Financial Advisors Inc. now owns 405 shares of the bank’s stock valued at $29,000 after buying an additional 346 shares in the last quarter. Fortitude Family Office LLC lifted its stake in shares of Bank of New York Mellon by 130.6% in the 3rd quarter. Fortitude Family Office LLC now owns 611 shares of the bank’s stock valued at $44,000 after acquiring an additional 346 shares during the last quarter. Grove Bank & Trust boosted its holdings in shares of Bank of New York Mellon by 28.8% during the 3rd quarter. Grove Bank & Trust now owns 644 shares of the bank’s stock valued at $46,000 after acquiring an additional 144 shares in the last quarter. Ashton Thomas Securities LLC bought a new stake in Bank of New York Mellon during the 3rd quarter worth $46,000. Finally, Modus Advisors LLC acquired a new position in Bank of New York Mellon in the 4th quarter worth about $49,000. 85.31% of the stock is owned by institutional investors.

Analyst Ratings Changes

BK has been the topic of a number of recent research reports. Barclays lifted their price target on Bank of New York Mellon from $102.00 to $104.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Wolfe Research lowered shares of Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. Evercore ISI upped their price target on shares of Bank of New York Mellon from $79.00 to $83.00 and gave the company an “in-line” rating in a research report on Thursday, January 16th. Morgan Stanley lifted their price target on shares of Bank of New York Mellon from $90.00 to $97.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on 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. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $88.00.

Bank of New York Mellon Stock Up 0.5 %

Shares of NYSE:BK opened at $84.75 on Friday. The business’s 50-day moving average is $79.23 and its 200-day moving average is $72.82. The Bank of New York Mellon Co. has a 1 year low of $52.64 and a 1 year high of $85.81. The company has a market capitalization of $61.62 billion, a price-to-earnings ratio of 14.59, a P/E/G ratio of 0.97 and a beta of 1.08. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.69 and a quick ratio of 0.70.

Bank of New York Mellon (NYSE:BK) last issued its quarterly 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. 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 was up 11.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.28 earnings per share. Equities research analysts predict that The Bank of New York Mellon Co. will post 6.86 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Monday, January 27th will be issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date of this dividend is Monday, January 27th. Bank of New York Mellon’s payout ratio is 32.36%.

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.