Vinva Investment Management Ltd Has $2.92 Million Stock Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Vinva Investment Management Ltd lessened its position in The Bank of New York Mellon Co. (NYSE:BK) by 77.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 37,813 shares of the bank’s stock after selling 128,672 shares during the quarter. Vinva Investment Management Ltd’s holdings in Bank of New York Mellon were worth $2,916,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of BK. Centricity Wealth Management LLC acquired a new position in shares of Bank of New York Mellon during the 4th quarter worth approximately $39,000. TCTC Holdings LLC increased its position in shares of Bank of New York Mellon by 257.5% during the 4th quarter. TCTC Holdings LLC now owns 597 shares of the bank’s stock worth $46,000 after purchasing an additional 430 shares during the last quarter. Modus Advisors LLC acquired a new position in shares of Bank of New York Mellon during the 4th quarter worth approximately $49,000. Friedenthal Financial acquired a new position in shares of Bank of New York Mellon during the 4th quarter worth approximately $56,000. Finally, Asset Dedication LLC increased its position in shares of Bank of New York Mellon by 342.1% during the 4th quarter. Asset Dedication LLC now owns 756 shares of the bank’s stock worth $58,000 after purchasing an additional 585 shares during the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Bank of New York Mellon Stock Up 1.6 %

BK stock opened at $83.95 on Thursday. The Bank of New York Mellon Co. has a twelve month low of $52.64 and a twelve month high of $90.34. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.83. The stock’s 50 day moving average is $84.60 and its 200-day moving average is $78.80. The firm has a market capitalization of $60.27 billion, a PE ratio of 14.45, a P/E/G ratio of 0.97 and a beta of 1.06.

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 12.68% and a net margin of 11.35%. 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. Sell-side 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 Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Monday, January 27th were issued a $0.47 dividend. The ex-dividend date was Monday, January 27th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.24%. Bank of New York Mellon’s dividend payout ratio is presently 32.36%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Bank of America boosted their price target on 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. Wolfe Research lowered Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. Truist Financial lifted their target price on Bank of New York Mellon from $91.00 to $93.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Barclays lifted their target price on Bank of New York Mellon from $102.00 to $104.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Finally, Morgan Stanley lifted their target price on Bank of New York Mellon from $90.00 to $97.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $89.50.

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.