HUB Investment Partners LLC Makes New Investment in The Bank of New York Mellon Co. (NYSE:BK)

HUB Investment Partners LLC purchased a new position in shares of The Bank of New York Mellon Co. (NYSE:BK) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 3,100 shares of the bank’s stock, valued at approximately $238,000.

A number of other large investors also recently bought and sold shares of BK. Empowered Funds LLC increased its position in shares of Bank of New York Mellon by 9.2% in the third quarter. Empowered Funds LLC now owns 13,760 shares of the bank’s stock worth $989,000 after acquiring an additional 1,162 shares in the last quarter. Prospera Financial Services Inc increased its position in shares of Bank of New York Mellon by 11.4% in the third quarter. Prospera Financial Services Inc now owns 5,294 shares of the bank’s stock worth $381,000 after acquiring an additional 542 shares in the last quarter. Segall Bryant & Hamill LLC acquired a new stake in shares of Bank of New York Mellon in the third quarter worth $1,909,000. Commerce Bank increased its position in shares of Bank of New York Mellon by 1.2% in the third quarter. Commerce Bank now owns 29,995 shares of the bank’s stock worth $2,155,000 after acquiring an additional 352 shares in the last quarter. Finally, Advisors Asset Management Inc. increased its position in shares of Bank of New York Mellon by 33.1% in the third quarter. Advisors Asset Management Inc. now owns 61,988 shares of the bank’s stock worth $4,454,000 after acquiring an additional 15,419 shares in the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Price Performance

Shares of BK stock opened at $83.46 on Friday. The firm has a market cap of $59.92 billion, a P/E ratio of 14.36, a P/E/G ratio of 0.97 and a beta of 1.06. 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 Bank of New York Mellon Co. has a 1-year low of $52.64 and a 1-year high of $90.34. The firm has a fifty day moving average of $84.88 and a two-hundred day moving average of $79.02.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings data on Wednesday, January 15th. The bank reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.18. The company had revenue of $4.85 billion during 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%. The firm’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same period last year, the business earned $1.28 EPS. As a group, research 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 firm also recently declared a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Monday, January 27th were given a $0.47 dividend. The ex-dividend date was Monday, January 27th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.25%. Bank of New York Mellon’s payout ratio is currently 32.36%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on BK shares. Bank of America increased their price objective on shares of Bank of New York Mellon from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Royal Bank of Canada reissued a “sector perform” rating and issued a $90.00 price objective on shares of Bank of New York Mellon in a research report on Monday, March 17th. StockNews.com lowered shares of Bank of New York Mellon from a “buy” rating to a “hold” rating in a report on Wednesday, February 19th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Bank of New York Mellon from $94.00 to $98.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Finally, Keefe, Bruyette & Woods raised 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 report on Tuesday, December 3rd. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, Bank of New York Mellon has a consensus rating of “Moderate Buy” and a consensus price target 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.