Shilanski & Associates Inc. Acquires New Position in The Bank of New York Mellon Co. (NYSE:BK)

Shilanski & Associates Inc. bought a new stake in The Bank of New York Mellon Co. (NYSE:BK) during the fourth quarter, Holdings Channel.com reports. The firm bought 8,233 shares of the bank’s stock, valued at approximately $633,000.

Other hedge funds also recently made changes to their positions in the company. United Advisor Group LLC bought a new stake in Bank of New York Mellon during the third quarter worth approximately $595,000. Czech National Bank increased its stake in Bank of New York Mellon by 4.9% in the 4th quarter. Czech National Bank now owns 157,645 shares of the bank’s stock worth $12,112,000 after purchasing an additional 7,316 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Bank of New York Mellon by 1.7% during the third quarter. Principal Financial Group Inc. now owns 883,853 shares of the bank’s stock valued at $63,514,000 after buying an additional 14,916 shares in the last quarter. Chase Investment Counsel Corp increased its stake in shares of Bank of New York Mellon by 67.2% in the third quarter. Chase Investment Counsel Corp now owns 83,530 shares of the bank’s stock worth $6,002,000 after acquiring an additional 33,558 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in shares of Bank of New York Mellon by 4.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 10,416,436 shares of the bank’s stock valued at $623,891,000 after purchasing an additional 421,161 shares in the last quarter. Institutional investors own 85.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Wolfe Research lowered shares of Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. Barclays raised their target price on Bank of New York Mellon from $102.00 to $104.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Truist Financial increased their price objective on Bank of New York Mellon from $91.00 to $93.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. The Goldman Sachs Group boosted their target price on shares of Bank of New York Mellon from $74.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Finally, Citigroup increased their price target on shares of Bank of New York Mellon from $75.00 to $82.00 and gave the company a “neutral” rating in a report on Monday, November 25th. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, Bank of New York Mellon presently has an average rating of “Moderate Buy” and an average target price of $88.00.

Bank of New York Mellon Trading Up 0.5 %

Shares of NYSE BK opened at $84.75 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 company has a 50-day moving average of $79.23 and a two-hundred day moving average of $72.82. The company has a market cap of $61.62 billion, a PE ratio of 14.59, a P/E/G ratio of 0.97 and a beta of 1.08.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings data on Wednesday, January 15th. The bank reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.18. The firm had revenue of $4.85 billion for the quarter, compared to the consensus estimate 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 for the quarter was up 11.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.28 EPS. As a group, equities analysts expect that The Bank of New York Mellon Co. will post 6.86 earnings per share for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Monday, January 27th will be given a $0.47 dividend. The ex-dividend date is Monday, January 27th. This represents a $1.88 dividend on an annualized basis and a yield of 2.22%. Bank of New York Mellon’s payout ratio is 32.36%.

Bank of New York Mellon Company 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.