150,659 Shares in The Bank of New York Mellon Co. (NYSE:BK) Purchased by Proficio Capital Partners LLC

Proficio Capital Partners LLC bought a new stake in The Bank of New York Mellon Co. (NYSE:BK) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 150,659 shares of the bank’s stock, valued at approximately $11,575,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Atria Investments Inc boosted its holdings in Bank of New York Mellon by 8.5% in the 4th quarter. Atria Investments Inc now owns 81,201 shares of the bank’s stock valued at $6,239,000 after purchasing an additional 6,335 shares during the last quarter. Assetmark Inc. boosted its holdings in Bank of New York Mellon by 3,047.4% in the 4th quarter. Assetmark Inc. now owns 58,824 shares of the bank’s stock valued at $4,519,000 after purchasing an additional 56,955 shares during the last quarter. Smithfield Trust Co lifted its holdings in shares of Bank of New York Mellon by 1.3% in the 4th quarter. Smithfield Trust Co now owns 149,706 shares of the bank’s stock worth $11,503,000 after acquiring an additional 1,920 shares during the last quarter. Commerzbank Aktiengesellschaft FI lifted its holdings in shares of Bank of New York Mellon by 101.9% in the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 10,200 shares of the bank’s stock worth $787,000 after acquiring an additional 5,149 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC lifted its holdings in shares of Bank of New York Mellon by 1.8% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 92,225 shares of the bank’s stock worth $7,086,000 after acquiring an additional 1,622 shares during the last quarter. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Bank of New York Mellon Price Performance

Shares of NYSE:BK opened at $81.87 on Friday. The company’s fifty day moving average price is $84.30 and its 200 day moving average price is $78.47. The Bank of New York Mellon Co. has a 12 month low of $52.64 and a 12 month high of $90.34. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.69 and a quick ratio of 0.70. The firm has a market capitalization of $58.78 billion, a P/E ratio of 14.09, a P/E/G ratio of 0.97 and a beta of 1.06.

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, topping 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 company had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.66 billion. During the same period last year, the firm posted $1.28 EPS. Bank of New York Mellon’s revenue for the quarter was up 11.2% on a year-over-year basis. As a group, sell-side analysts predict that The Bank of New York Mellon Co. will post 6.96 earnings per share for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Monday, January 27th were given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 2.30%. The ex-dividend date was Monday, January 27th. Bank of New York Mellon’s payout ratio is currently 32.36%.

Analysts Set New Price Targets

BK has been the topic of several recent analyst reports. 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 objective on shares of Bank of New York Mellon from $79.00 to $83.00 and gave the stock an “in-line” rating in a report on Thursday, January 16th. Truist Financial upped their target price on shares of Bank of New York Mellon from $91.00 to $93.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. StockNews.com downgraded shares of Bank of New York Mellon from a “buy” rating to a “hold” rating in a research note on Wednesday, February 19th. Finally, UBS Group increased their price objective on shares of Bank of New York Mellon from $88.00 to $94.00 and gave the company a “buy” rating in a research report on Tuesday, January 21st. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $88.71.

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.