Exchange Traded Concepts LLC Has $12.84 Million Stock Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Exchange Traded Concepts LLC grew its position in The Bank of New York Mellon Co. (NYSE:BK) by 3.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 167,092 shares of the bank’s stock after acquiring an additional 5,977 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Bank of New York Mellon were worth $12,838,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. 1832 Asset Management L.P. lifted its stake in shares of Bank of New York Mellon by 1.5% in the 2nd quarter. 1832 Asset Management L.P. now owns 47,837 shares of the bank’s stock valued at $2,865,000 after purchasing an additional 717 shares during the last quarter. Bank of Montreal Can lifted its position in shares of Bank of New York Mellon by 2.3% in the second quarter. Bank of Montreal Can now owns 720,564 shares of the bank’s stock worth $43,162,000 after buying an additional 16,104 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in shares of Bank of New York Mellon by 59.4% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 144,496 shares of the bank’s stock worth $8,654,000 after acquiring an additional 53,835 shares in the last quarter. AXA S.A. boosted its position in Bank of New York Mellon by 66.3% during the second quarter. AXA S.A. now owns 568,220 shares of the bank’s stock worth $34,031,000 after purchasing an additional 226,476 shares during the period. Finally, AQR Capital Management LLC boosted its holdings in shares of Bank of New York Mellon by 30.7% during the 2nd quarter. AQR Capital Management LLC now owns 1,624,167 shares of the bank’s stock worth $96,849,000 after buying an additional 381,394 shares during the period. 85.31% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BK has been the topic of several recent analyst reports. Truist Financial lifted their target price on shares of Bank of New York Mellon from $91.00 to $93.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Keefe, Bruyette & Woods boosted their price objective on Bank of New York Mellon from $87.00 to $96.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. StockNews.com lowered Bank of New York Mellon from a “buy” rating to a “hold” rating in a report on Thursday, January 16th. The Goldman Sachs Group upped their price target on Bank of New York Mellon from $74.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Finally, Bank of America boosted their target price 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. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, Bank of New York Mellon has an average rating of “Moderate Buy” and a consensus target price of $88.00.

Bank of New York Mellon Trading Up 0.6 %

Shares of BK opened at $85.27 on Friday. The Bank of New York Mellon Co. has a 1 year low of $52.64 and a 1 year high of $85.81. The company has a current ratio of 0.69, a quick ratio of 0.70 and a debt-to-equity ratio of 0.83. The stock has a 50 day simple moving average of $79.23 and a 200-day simple moving average of $72.82. The stock has a market cap of $61.99 billion, a PE ratio of 14.65, a PEG ratio of 0.96 and a beta of 1.08.

Bank of New York Mellon (NYSE:BK) last announced its quarterly 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. The firm had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.66 billion. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. The business’s revenue was up 11.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.28 earnings per share. On average, sell-side analysts predict that The Bank of New York Mellon Co. will post 6.86 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Monday, January 27th will be issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 2.20%. The ex-dividend date of this dividend is Monday, January 27th. Bank of New York Mellon’s dividend payout ratio is currently 32.36%.

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.