Kovack Advisors Inc. Buys 366 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Kovack Advisors Inc. increased its position in The Bank of New York Mellon Co. (NYSE:BK) by 7.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,270 shares of the bank’s stock after acquiring an additional 366 shares during the quarter. Kovack Advisors Inc.’s holdings in Bank of New York Mellon were worth $405,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Centricity Wealth Management LLC bought a new stake in shares of Bank of New York Mellon during the 4th quarter valued at $39,000. Ashton Thomas Securities LLC bought a new position in Bank of New York Mellon in the 3rd quarter worth $46,000. Modus Advisors LLC purchased a new stake in Bank of New York Mellon in the 4th quarter worth $49,000. Friedenthal Financial bought a new stake in Bank of New York Mellon during the fourth quarter valued at about $56,000. Finally, Asset Dedication LLC lifted its position in shares of Bank of New York Mellon by 342.1% in the fourth quarter. Asset Dedication LLC now owns 756 shares of the bank’s stock valued at $58,000 after acquiring an additional 585 shares in the last quarter. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Stock Performance

Shares of BK stock opened at $88.86 on Friday. The Bank of New York Mellon Co. has a 12-month low of $52.64 and a 12-month high of $89.44. The business’s fifty day simple moving average is $83.02 and its 200-day simple moving average is $77.11. The company has a current ratio of 0.69, a quick ratio of 0.70 and a debt-to-equity ratio of 0.83. The company has a market cap of $64.60 billion, a PE ratio of 15.29, a PEG ratio of 0.97 and a beta of 1.08.

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 analysts’ consensus estimates of $1.54 by $0.18. The business had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.66 billion. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. Bank of New York Mellon’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.28 EPS. Analysts expect 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 business also recently declared 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 2.12%. The ex-dividend date of this dividend was Monday, January 27th. Bank of New York Mellon’s dividend payout ratio is currently 32.36%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on BK. Deutsche Bank Aktiengesellschaft increased their target price on Bank of New York Mellon from $94.00 to $98.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Wells Fargo & Company increased their price objective on shares of Bank of New York Mellon from $82.00 to $86.00 and gave the company an “equal weight” rating in a report on Thursday, January 16th. Wolfe Research cut shares of Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. Keefe, Bruyette & Woods upped their target price on shares of Bank of New York Mellon from $87.00 to $96.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. Finally, Evercore ISI lifted 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 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’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $88.00.

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.