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

Westfuller Advisors LLC acquired a new position in The Bank of New York Mellon Corporation (NYSE:BK) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 6,133 shares of the bank’s stock, valued at approximately $668,000.

Other large investors also recently added to or reduced their stakes in the company. Teacher Retirement System of Texas grew its holdings in Bank of New York Mellon by 7.1% during the 3rd quarter. Teacher Retirement System of Texas now owns 251,824 shares of the bank’s stock worth $27,439,000 after acquiring an additional 16,679 shares in the last quarter. iA Global Asset Management Inc. raised its stake in Bank of New York Mellon by 13.6% in the third quarter. iA Global Asset Management Inc. now owns 36,040 shares of the bank’s stock valued at $3,927,000 after buying an additional 4,324 shares during the last quarter. New Wave Wealth Advisors LLC boosted its stake in Bank of New York Mellon by 5.0% in the 3rd quarter. New Wave Wealth Advisors LLC now owns 7,556 shares of the bank’s stock worth $823,000 after purchasing an additional 357 shares in the last quarter. Millington Financial Advisors LLC increased its position in shares of Bank of New York Mellon by 1.1% in the 3rd quarter. Millington Financial Advisors LLC now owns 29,331 shares of the bank’s stock valued at $3,118,000 after acquiring an additional 318 shares during the period. Finally, Fiducient Advisors LLC purchased a new stake in Bank of New York Mellon in the third quarter valued at approximately $218,000. 85.31% of the stock is owned by hedge funds and other institutional investors.

Bank of New York Mellon Trading Down 2.1%

Shares of BK opened at $117.71 on Friday. The Bank of New York Mellon Corporation has a twelve month low of $70.46 and a twelve 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 firm’s 50-day moving average is $115.93 and its two-hundred day moving average is $108.48. The firm has a market capitalization of $82.09 billion, a P/E ratio of 15.89, a PEG ratio of 1.12 and a beta of 1.11.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings results on Friday, October 31st. The bank reported $1.91 earnings per share for the quarter. Bank of New York Mellon had a net margin of 13.62% and a return on equity of 14.37%. The company had revenue of $5.07 billion for the quarter. On average, research analysts predict that The Bank of New York Mellon Corporation 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 will be paid on Thursday, February 5th. Stockholders of record on Friday, January 23rd will be paid a $0.53 dividend. The ex-dividend date of this dividend is Friday, January 23rd. This represents a $2.12 annualized dividend and a dividend yield of 1.8%. Bank of New York Mellon’s dividend payout ratio is presently 28.61%.

Wall Street Analysts Forecast Growth

BK has been the subject of several recent research reports. The Goldman Sachs Group lifted their target price on shares of Bank of New York Mellon from $106.00 to $120.00 and gave the company a “buy” rating in a report on Monday, October 6th. Evercore ISI upped their target price on shares of Bank of New York Mellon from $91.00 to $110.00 and gave the stock an “in-line” rating in a report on Tuesday, September 30th. BMO Capital Markets started coverage on Bank of New York Mellon in a report on Friday, October 3rd. They issued an “outperform” rating and a $125.00 price target for the company. Weiss Ratings reaffirmed a “buy (b+)” rating on shares of Bank of New York Mellon in a research note on Monday, December 29th. Finally, Royal Bank Of Canada raised their price objective on Bank of New York Mellon from $124.00 to $130.00 and gave the stock a “sector perform” rating in a research report on Wednesday, January 14th. Eight research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $131.92.

Bank of New York Mellon Profile

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.