Westfuller Advisors LLC Takes Position in The Bank of New York Mellon Corporation $BK

Westfuller Advisors LLC acquired a new stake in shares of The Bank of New York Mellon Corporation (NYSE:BK) during the 3rd quarter, HoldingsChannel.com reports. The fund acquired 6,133 shares of the bank’s stock, valued at approximately $668,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Investment Management Corp of Ontario raised its holdings in Bank of New York Mellon by 25.9% in the 2nd quarter. Investment Management Corp of Ontario now owns 125,506 shares of the bank’s stock valued at $11,435,000 after acquiring an additional 25,842 shares in the last quarter. First National Advisers LLC acquired a new stake in Bank of New York Mellon during the third quarter worth about $3,304,000. Permanent Capital Management LP acquired a new position in shares of Bank of New York Mellon in the 3rd quarter valued at approximately $2,262,000. First Horizon Corp bought a new stake in shares of Bank of New York Mellon during the 3rd quarter worth approximately $22,072,000. Finally, Robeco Institutional Asset Management B.V. boosted its position in shares of Bank of New York Mellon by 36.4% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 2,166,052 shares of the bank’s stock worth $236,013,000 after acquiring an additional 577,621 shares in the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Bank of New York Mellon Stock Performance

Shares of Bank of New York Mellon stock opened at $117.71 on Friday. The firm has a market capitalization of $82.09 billion, a P/E ratio of 15.89, a price-to-earnings-growth ratio of 1.12 and a beta of 1.11. The Bank of New York Mellon Corporation has a 12 month low of $70.46 and a 12 month high of $125.89. The company has a current ratio of 0.71, a quick ratio of 0.70 and a debt-to-equity ratio of 0.81. The business’s fifty day simple moving average is $115.93 and its 200 day simple moving average is $108.48.

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

Bank of New York Mellon Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 5th. Investors of record on Friday, January 23rd will be given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Friday, January 23rd. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 28.61%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. TD Cowen boosted their target price on shares of Bank of New York Mellon from $133.00 to $145.00 and gave the stock a “buy” rating in a research note on Wednesday, January 7th. BMO Capital Markets assumed coverage on Bank of New York Mellon in a report on Friday, October 3rd. They set an “outperform” rating and a $125.00 price target on the stock. Wells Fargo & Company lifted their target price on shares of Bank of New York Mellon from $119.00 to $122.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 14th. New Street Research set a $143.00 price target on shares of Bank of New York Mellon in a research report on Wednesday, January 14th. Finally, Barclays lifted their price target on shares of Bank of New York Mellon from $120.00 to $143.00 and gave the stock an “overweight” rating in a report on Monday, January 5th. Eight analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $131.92.

About Bank of New York Mellon

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.