HighTower Advisors LLC Has $31.26 Million Stock Holdings in The Bank of New York Mellon Co. (NYSE:BK)

HighTower Advisors LLC increased its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 24.7% during the fourth quarter, Holdings Channel reports. The institutional investor owned 406,927 shares of the bank’s stock after purchasing an additional 80,555 shares during the quarter. HighTower Advisors LLC’s holdings in Bank of New York Mellon were worth $31,264,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Centricity Wealth Management LLC acquired a new stake in Bank of New York Mellon during the fourth quarter worth about $39,000. Modus Advisors LLC acquired a new position in shares of Bank of New York Mellon in the 4th quarter worth approximately $49,000. Friedenthal Financial acquired a new position in shares of Bank of New York Mellon in the 4th quarter worth approximately $56,000. Asset Dedication LLC boosted its holdings in shares of Bank of New York Mellon by 342.1% in the 4th quarter. Asset Dedication LLC now owns 756 shares of the bank’s stock worth $58,000 after acquiring an additional 585 shares in the last quarter. Finally, Grove Bank & Trust boosted its holdings in shares of Bank of New York Mellon by 21.0% in the 4th quarter. Grove Bank & Trust now owns 779 shares of the bank’s stock worth $60,000 after acquiring an additional 135 shares in the last quarter. 85.31% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BK has been the topic of several recent analyst reports. Evercore ISI boosted their target price on Bank of New York Mellon from $79.00 to $83.00 and gave the stock an “in-line” rating in a report on Thursday, January 16th. Truist Financial boosted their price objective on shares of Bank of New York Mellon from $91.00 to $93.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of 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. StockNews.com cut shares of Bank of New York Mellon from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Finally, UBS Group boosted their price objective on shares of Bank of New York Mellon from $88.00 to $94.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, Bank of New York Mellon has a consensus rating of “Moderate Buy” and a consensus price target of $88.71.

Bank of New York Mellon Price Performance

BK opened at $81.87 on Friday. 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 12 month low of $52.64 and a 12 month high of $90.34. The company has a fifty day simple moving average of $84.30 and a 200 day simple moving average of $78.40. The stock has a market cap of $58.78 billion, a P/E ratio of 14.09, a P/E/G ratio of 0.97 and a beta of 1.06.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings data on Wednesday, January 15th. The bank reported $1.72 EPS for the quarter, beating analysts’ consensus estimates of $1.54 by $0.18. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The business had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.66 billion. During the same quarter in the prior year, the company earned $1.28 EPS. The firm’s quarterly revenue was up 11.2% on a year-over-year basis. On average, research analysts expect that The Bank of New York Mellon Co. will post 6.96 EPS for the current year.

Bank of New York Mellon Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Monday, January 27th were given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date of this dividend was Monday, January 27th. Bank of New York Mellon’s dividend payout ratio is currently 32.36%.

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.