Dowling & Yahnke LLC Has $3.07 Million Stock Position in Bank of New York Mellon Corp (NYSE:BK)

Dowling & Yahnke LLC grew its stake in Bank of New York Mellon Corp (NYSE:BK) by 0.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 61,064 shares of the bank’s stock after purchasing an additional 268 shares during the quarter. Dowling & Yahnke LLC’s holdings in Bank of New York Mellon were worth $3,073,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. CWM LLC raised its stake in Bank of New York Mellon by 41.8% during the 4th quarter. CWM LLC now owns 4,534 shares of the bank’s stock worth $228,000 after buying an additional 1,337 shares during the period. Welch Group LLC acquired a new stake in Bank of New York Mellon during the 4th quarter worth $101,000. Transform Wealth LLC raised its stake in Bank of New York Mellon by 3.1% during the 4th quarter. Transform Wealth LLC now owns 31,886 shares of the bank’s stock worth $1,605,000 after buying an additional 949 shares during the period. New York State Teachers Retirement System raised its stake in Bank of New York Mellon by 1.0% during the 4th quarter. New York State Teachers Retirement System now owns 1,365,082 shares of the bank’s stock worth $68,705,000 after buying an additional 12,983 shares during the period. Finally, Segment Wealth Management LLC acquired a new stake in Bank of New York Mellon during the 4th quarter worth $250,000. 81.84% of the stock is currently owned by institutional investors.

Several research firms have issued reports on BK. Wolfe Research raised Bank of New York Mellon from a “peer perform” rating to an “outperform” rating in a research note on Monday, January 6th. ValuEngine raised Bank of New York Mellon from a “sell” rating to a “hold” rating in a research note on Tuesday, November 19th. Royal Bank of Canada reissued a “hold” rating and issued a $52.00 price target on shares of Bank of New York Mellon in a research note on Monday, January 20th. Citigroup raised Bank of New York Mellon from a “neutral” rating to a “buy” rating and dropped their price target for the company from $55.00 to $53.00 in a research note on Tuesday, January 21st. Finally, Credit Suisse Group raised Bank of New York Mellon from a “neutral” rating to an “outperform” rating and set a $54.00 price target on the stock in a research note on Tuesday, January 21st. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $51.50.

BK opened at $45.05 on Tuesday. The business’s 50-day moving average price is $49.51 and its two-hundred day moving average price is $46.60. Bank of New York Mellon Corp has a 1 year low of $40.52 and a 1 year high of $54.27. The company has a market capitalization of $42.38 billion, a price-to-earnings ratio of 9.92, a P/E/G ratio of 1.34 and a beta of 1.14. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.70 and a quick ratio of 0.70.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings data on Thursday, January 16th. The bank reported $1.01 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.99 by $0.02. The company had revenue of $3.99 billion during the quarter, compared to analysts’ expectations of $4.17 billion. Bank of New York Mellon had a return on equity of 10.49% and a net margin of 21.39%. Bank of New York Mellon’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter last year, the company earned $0.99 EPS. Sell-side analysts anticipate that Bank of New York Mellon Corp will post 4.15 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Monday, January 27th will be issued a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 2.75%. The ex-dividend date is Friday, January 24th. Bank of New York Mellon’s payout ratio is 30.85%.

Bank of New York Mellon Profile

The Bank of New York Mellon Corporation provides a range of financial products and services to institutions, corporations, and high net worth individuals in the United States and internationally. The company operates through two segments, Investment Management and Investment Services. It offers investment management, custody, foreign exchange, fund broker-dealer, collateral and liquidity, clearing, corporate trust, global payment, trade finance, and cash management services, as well as securities finance and depositary receipts.

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Institutional Ownership by Quarter for Bank of New York Mellon (NYSE:BK)

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