CoreFirst Bank & Trust Makes New Investment in The Bank of New York Mellon Co. (NYSE:BK)

CoreFirst Bank & Trust acquired a new position in The Bank of New York Mellon Co. (NYSE:BK) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 1,320 shares of the bank’s stock, valued at approximately $101,000.

A number of other institutional investors and hedge funds have also modified their holdings of BK. Cape Investment Advisory Inc. lifted its position in Bank of New York Mellon by 12.6% during the 4th quarter. Cape Investment Advisory Inc. now owns 1,172 shares of the bank’s stock worth $90,000 after acquiring an additional 131 shares during the last quarter. Oppenheimer & Co. Inc. lifted its position in shares of Bank of New York Mellon by 0.4% during the 4th quarter. Oppenheimer & Co. Inc. now owns 34,536 shares of the bank’s stock worth $2,653,000 after purchasing an additional 133 shares during the last quarter. Grove Bank & Trust boosted its stake in Bank of New York Mellon by 21.0% during the 4th quarter. Grove Bank & Trust now owns 779 shares of the bank’s stock valued at $60,000 after purchasing an additional 135 shares during the period. Valeo Financial Advisors LLC grew its holdings in Bank of New York Mellon by 1.6% in the 4th quarter. Valeo Financial Advisors LLC now owns 9,041 shares of the bank’s stock valued at $695,000 after buying an additional 139 shares during the last quarter. Finally, Stratos Investment Management LLC increased its position in Bank of New York Mellon by 2.9% in the 4th quarter. Stratos Investment Management LLC now owns 5,109 shares of the bank’s stock worth $393,000 after buying an additional 142 shares during the period. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Bank of New York Mellon Trading Up 0.6 %

NYSE:BK opened at $85.21 on Wednesday. The firm has a market capitalization of $61.18 billion, a price-to-earnings ratio of 14.67, a PEG ratio of 0.97 and a beta of 1.06. The Bank of New York Mellon Co. has a 1-year low of $52.64 and a 1-year high of $90.34. The business’s 50-day moving average price is $85.24 and its two-hundred day moving average price is $79.35. The company has a current ratio of 0.69, a quick ratio of 0.70 and a debt-to-equity ratio of 0.83.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings data on Wednesday, January 15th. The bank reported $1.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.54 by $0.18. The firm had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.66 billion. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The business’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.28 earnings per share. On average, equities analysts expect that The Bank of New York Mellon Co. will post 6.96 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Monday, January 27th were paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 2.21%. The ex-dividend date was Monday, January 27th. Bank of New York Mellon’s payout ratio is presently 32.36%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on BK shares. Citigroup increased their price objective on Bank of New York Mellon from $82.00 to $85.00 and gave the company a “neutral” rating in a research report on Monday. Bank of America raised their price target on shares of Bank of New York Mellon from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. StockNews.com lowered shares of Bank of New York Mellon from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Morgan Stanley lifted their target price on Bank of New York Mellon from $90.00 to $97.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Finally, Deutsche Bank Aktiengesellschaft upped their price target 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 research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, Bank of New York Mellon has a consensus rating of “Moderate Buy” and a consensus target price of $89.71.

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.