Tounjian Advisory Partners LLC Buys New Holdings in The Bank of New York Mellon Corporation $BK

Tounjian Advisory Partners LLC purchased a new position in shares of The Bank of New York Mellon Corporation (NYSE:BK) in the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 18,656 shares of the bank’s stock, valued at approximately $2,166,000.

A number of other institutional investors have also recently bought and sold shares of BK. Ransom Advisory Ltd lifted its position in shares of Bank of New York Mellon by 1.3% in the fourth quarter. Ransom Advisory Ltd now owns 6,777 shares of the bank’s stock valued at $787,000 after buying an additional 85 shares during the last quarter. Valeo Financial Advisors LLC boosted its stake in shares of Bank of New York Mellon by 1.3% during the 3rd quarter. Valeo Financial Advisors LLC now owns 7,539 shares of the bank’s stock worth $821,000 after acquiring an additional 94 shares during the period. Ferguson Wellman Capital Management Inc. increased its holdings in shares of Bank of New York Mellon by 0.4% during the 3rd quarter. Ferguson Wellman Capital Management Inc. now owns 24,752 shares of the bank’s stock worth $2,697,000 after acquiring an additional 96 shares during the last quarter. Leonard Rickey Investment Advisors P.L.L.C. increased its holdings in shares of Bank of New York Mellon by 1.9% during the 3rd quarter. Leonard Rickey Investment Advisors P.L.L.C. now owns 5,192 shares of the bank’s stock worth $566,000 after acquiring an additional 98 shares during the last quarter. Finally, Angeles Wealth Management LLC raised its stake in Bank of New York Mellon by 2.6% in the 3rd quarter. Angeles Wealth Management LLC now owns 3,798 shares of the bank’s stock valued at $414,000 after acquiring an additional 98 shares during the period. Institutional investors and hedge funds own 85.31% of the company’s stock.

Bank of New York Mellon Stock Performance

BK opened at $114.87 on Friday. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.71 and a quick ratio of 0.71. The business has a fifty day simple moving average of $119.13 and a 200 day simple moving average of $113.56. The Bank of New York Mellon Corporation has a 1 year low of $70.46 and a 1 year high of $128.76. The company has a market capitalization of $79.06 billion, a PE ratio of 15.50, a price-to-earnings-growth ratio of 1.07 and a beta of 1.10.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings data on Friday, October 31st. The bank reported $1.91 earnings per share for the quarter. Bank of New York Mellon had a return on equity of 14.37% and a net margin of 13.62%.The firm had revenue of $5.07 billion for the quarter. Research analysts expect that The Bank of New York Mellon Corporation will post 6.96 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 5th. Investors of record on Friday, January 23rd were paid a $0.53 dividend. The ex-dividend date was Friday, January 23rd. This represents a $2.12 annualized dividend and a dividend yield of 1.8%. Bank of New York Mellon’s dividend payout ratio is 28.61%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on BK. Barclays raised their price target on Bank of New York Mellon from $120.00 to $143.00 and gave the company an “overweight” rating in a report on Monday, January 5th. TD Cowen increased their price objective on shares of Bank of New York Mellon from $133.00 to $145.00 and gave the company a “buy” rating in a research report on Wednesday, January 7th. Citigroup began coverage on shares of Bank of New York Mellon in a research note on Monday, February 23rd. They set a “neutral” rating for the company. Weiss Ratings raised shares of Bank of New York Mellon from a “buy (b+)” rating to a “buy (a-)” rating in a report on Wednesday, March 11th. Finally, Royal Bank Of Canada upped their price target on shares of Bank of New York Mellon from $124.00 to $130.00 and gave the company a “sector perform” rating in a research note on Wednesday, January 14th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Bank of New York Mellon currently has a consensus rating of “Moderate Buy” and an average target price of $131.92.

Bank of New York Mellon Company Profile

Bank of New York Mellon Corporation (BNY Mellon) is a global financial services company headquartered in New York City that provides a wide range of asset servicing, custody, and related financial infrastructure solutions to institutional clients. Its core businesses include custody and asset servicing, clearing and collateral management, treasury services, securities lending, corporate trust services, and depositary receipt administration. The company also offers investment management and advisory services through its asset management arm and provides technology-enabled solutions for trade processing, foreign exchange, and liquidity management.

BNY Mellon serves a broad client base that includes asset managers, pension funds, corporations, banks, broker-dealers and sovereign entities.