Charles Schwab Investment Management Inc. Boosts Position in The Bank of New York Mellon Co. (NYSE:BK)

Charles Schwab Investment Management Inc. boosted its position in The Bank of New York Mellon Co. (NYSE:BK) by 0.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,849,371 shares of the bank’s stock after purchasing an additional 12,022 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Bank of New York Mellon were worth $372,577,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in BK. Steward Partners Investment Advisory LLC lifted its holdings in Bank of New York Mellon by 1.8% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 92,225 shares of the bank’s stock worth $7,086,000 after purchasing an additional 1,622 shares in the last quarter. Fidelis Capital Partners LLC raised its position in shares of Bank of New York Mellon by 9.4% during the fourth quarter. Fidelis Capital Partners LLC now owns 3,693 shares of the bank’s stock valued at $315,000 after buying an additional 316 shares during the last quarter. LGT Fund Management Co Ltd. lifted its holdings in shares of Bank of New York Mellon by 2.6% in the fourth quarter. LGT Fund Management Co Ltd. now owns 34,554 shares of the bank’s stock worth $2,655,000 after buying an additional 891 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Bank of New York Mellon during the fourth quarter worth $184,000. Finally, Jones Financial Companies Lllp grew its stake in Bank of New York Mellon by 47.4% during the fourth quarter. Jones Financial Companies Lllp now owns 17,115 shares of the bank’s stock valued at $1,315,000 after acquiring an additional 5,507 shares in the last quarter. 85.31% of the stock is currently owned by institutional investors.

Bank of New York Mellon Trading Up 1.2 %

Shares of NYSE BK opened at $86.61 on Thursday. The Bank of New York Mellon Co. has a 1-year low of $52.64 and a 1-year high of $90.34. The business has a fifty day moving average price of $83.56 and a 200 day moving average price of $77.67. The stock has a market capitalization of $62.04 billion, a P/E ratio of 14.91, a price-to-earnings-growth ratio of 0.97 and a beta of 1.06. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.69 and a quick ratio of 0.70.

Bank of New York Mellon (NYSE:BK) last released 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 business had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.66 billion. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The company’s revenue was up 11.2% compared to the same quarter last year. During the same period last year, the business earned $1.28 EPS. Equities research analysts expect that The Bank of New York Mellon Co. will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Monday, January 27th were issued a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 2.17%. The ex-dividend date of this dividend was Monday, January 27th. Bank of New York Mellon’s dividend payout ratio is currently 32.36%.

Analyst Ratings Changes

Several brokerages have recently issued reports on BK. Wells Fargo & Company lifted their target price on Bank of New York Mellon from $86.00 to $96.00 and gave the stock an “equal weight” rating in a report on Monday. Bank of America lifted their price objective on Bank of New York Mellon from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Citigroup increased their target price on Bank of New York Mellon from $75.00 to $82.00 and gave the company a “neutral” rating in a research report on Monday, November 25th. Evercore ISI boosted their price target on shares of Bank of New York Mellon from $79.00 to $83.00 and gave the stock an “in-line” rating in a research report on Thursday, January 16th. Finally, Truist Financial increased their price objective on shares of 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. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, Bank of New York Mellon currently has a consensus rating of “Moderate Buy” and a consensus target price of $88.71.

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.