EverSource Wealth Advisors LLC Grows Stock Holdings in The Bank of New York Mellon Co. (NYSE:BK)

EverSource Wealth Advisors LLC grew its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 25.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,295 shares of the bank’s stock after purchasing an additional 259 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Bank of New York Mellon were worth $99,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of BK. Centricity Wealth Management LLC purchased a new stake in shares of Bank of New York Mellon during the 4th quarter valued at approximately $39,000. Modus Advisors LLC purchased a new stake in shares of Bank of New York Mellon during the 4th quarter valued at approximately $49,000. Friedenthal Financial purchased a new stake in shares of Bank of New York Mellon during the 4th quarter valued at approximately $56,000. Asset Dedication LLC raised its position in shares of Bank of New York Mellon by 342.1% during the 4th quarter. Asset Dedication LLC now owns 756 shares of the bank’s stock valued at $58,000 after buying an additional 585 shares during the period. Finally, Grove Bank & Trust raised its position in shares of 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 buying an additional 135 shares during the period. 85.31% of the stock is owned by hedge funds and other institutional investors.

Bank of New York Mellon Stock Performance

NYSE:BK opened at $82.62 on Wednesday. The company has a fifty day simple moving average of $84.48 and a two-hundred day simple moving average of $78.76. The company has a market cap of $59.32 billion, a price-to-earnings ratio of 14.22, a price-to-earnings-growth ratio of 0.97 and a beta of 1.06. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.83. The Bank of New York Mellon Co. has a 52 week low of $52.64 and a 52 week high of $90.34.

Bank of New York Mellon (NYSE:BK) last issued its earnings results on Wednesday, January 15th. The bank reported $1.72 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.18. The firm had revenue of $4.85 billion during the quarter, compared to the consensus estimate 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 company’s revenue was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.28 earnings per share. As a group, equities analysts anticipate 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 company also recently announced 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. The ex-dividend date was Monday, January 27th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.28%. Bank of New York Mellon’s payout ratio is currently 32.36%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on BK shares. Truist Financial lifted their price target on shares of Bank of New York Mellon from $91.00 to $93.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Keefe, Bruyette & Woods lifted their price target on shares of Bank of New York Mellon from $87.00 to $96.00 and gave the company an “outperform” rating in a research report on Tuesday, December 3rd. Barclays boosted their target price on Bank of New York Mellon from $102.00 to $104.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. StockNews.com lowered Bank of New York Mellon from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Finally, Citigroup boosted their target price on Bank of New York Mellon from $75.00 to $82.00 and gave the company a “neutral” rating in a research report on Monday, November 25th. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $89.50.

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.