Sanibel Captiva Trust Company Inc. Has $1.23 Million Position in The Bank of New York Mellon Co. (NYSE:BK)

Sanibel Captiva Trust Company Inc. boosted its position in The Bank of New York Mellon Co. (NYSE:BK) by 3.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,966 shares of the bank’s stock after purchasing an additional 494 shares during the period. Sanibel Captiva Trust Company Inc.’s holdings in Bank of New York Mellon were worth $1,227,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. State Street Corp increased its holdings in Bank of New York Mellon by 2.0% in the 3rd quarter. State Street Corp now owns 33,313,594 shares of the bank’s stock worth $2,393,915,000 after purchasing an additional 659,096 shares in the last quarter. FMR LLC increased its stake in shares of Bank of New York Mellon by 78.6% in the third quarter. FMR LLC now owns 19,338,722 shares of the bank’s stock valued at $1,389,680,000 after buying an additional 8,512,404 shares during the period. Ameriprise Financial Inc. increased its stake in shares of Bank of New York Mellon by 4.2% in the second quarter. Ameriprise Financial Inc. now owns 10,416,436 shares of the bank’s stock valued at $623,891,000 after buying an additional 421,161 shares during the period. Legal & General Group Plc increased its stake in shares of Bank of New York Mellon by 1.2% in the second quarter. Legal & General Group Plc now owns 8,058,064 shares of the bank’s stock valued at $482,597,000 after buying an additional 97,286 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Bank of New York Mellon by 1.8% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,634,088 shares of the bank’s stock valued at $476,726,000 after buying an additional 117,974 shares during the period. Institutional investors and hedge funds own 85.31% of the company’s stock.

Bank of New York Mellon Stock Up 1.3 %

Shares of NYSE:BK opened at $83.31 on Friday. The business’s 50 day simple moving average is $78.87 and its two-hundred day simple moving average is $72.24. The firm has a market cap of $60.57 billion, a P/E ratio of 18.11, a PEG ratio of 0.76 and a beta of 1.08. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.70 and a current ratio of 0.70. The Bank of New York Mellon Co. has a 52-week low of $52.64 and a 52-week high of $83.67.

Bank of New York Mellon (NYSE:BK) last posted its earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share for the quarter, beating analysts’ consensus estimates of $1.54 by $0.18. Bank of New York Mellon had a return on equity of 12.06% and a net margin of 9.44%. The company had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.66 billion. During the same quarter last year, the company earned $1.28 earnings per share. The company’s revenue for the quarter was up 11.2% on a year-over-year basis. As a group, research analysts forecast that The Bank of New York Mellon Co. will post 5.87 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Monday, January 27th will be issued a $0.47 dividend. The ex-dividend date of this dividend is Monday, January 27th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.26%. Bank of New York Mellon’s dividend payout ratio is presently 40.87%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on BK. Truist Financial increased their price target on Bank of New York Mellon from $91.00 to $93.00 and gave the company a “buy” rating in a research note on Thursday. Morgan Stanley increased their price target on Bank of New York Mellon from $90.00 to $97.00 and gave the company an “overweight” rating in a research note on Thursday. Royal Bank of Canada reissued a “sector perform” rating and issued a $79.00 price target on shares of Bank of New York Mellon in a research note on Monday, October 14th. Wolfe Research cut Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. Finally, The Goldman Sachs Group raised their target price on Bank of New York Mellon from $74.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $87.14.

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.