Marietta Investment Partners LLC Invests $384,000 in The Bank of New York Mellon Co. (NYSE:BK)

Marietta Investment Partners LLC acquired a new position in shares of The Bank of New York Mellon Co. (NYSE:BK) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 5,001 shares of the bank’s stock, valued at approximately $384,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BK. Cape Investment Advisory Inc. lifted its stake in Bank of New York Mellon by 12.6% in the fourth quarter. Cape Investment Advisory Inc. now owns 1,172 shares of the bank’s stock valued at $90,000 after buying an additional 131 shares in the last quarter. Oppenheimer & Co. Inc. lifted its stake in Bank of New York Mellon by 0.4% in the fourth quarter. Oppenheimer & Co. Inc. now owns 34,536 shares of the bank’s stock valued at $2,653,000 after buying an additional 133 shares in the last quarter. Studio Investment Management LLC lifted its stake in Bank of New York Mellon by 2.1% in the third quarter. Studio Investment Management LLC now owns 6,636 shares of the bank’s stock valued at $477,000 after buying an additional 134 shares in the last quarter. Grove Bank & Trust lifted its stake in Bank of New York Mellon by 21.0% in the fourth quarter. Grove Bank & Trust now owns 779 shares of the bank’s stock valued at $60,000 after buying an additional 135 shares in the last quarter. Finally, Valeo Financial Advisors LLC lifted its stake in Bank of New York Mellon by 1.6% in the fourth quarter. Valeo Financial Advisors LLC now owns 9,041 shares of the bank’s stock valued at $695,000 after buying an additional 139 shares in the last quarter. 85.31% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Truist Financial lifted their price target on shares of Bank of New York Mellon from $91.00 to $93.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Barclays lifted their price objective on shares of 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. Royal Bank of Canada reiterated a “sector perform” rating and issued a $90.00 price objective on shares of Bank of New York Mellon in a report on Monday, March 17th. Keefe, Bruyette & Woods lifted their price objective on shares of Bank of New York Mellon from $87.00 to $96.00 and gave the company an “outperform” rating in a report on Tuesday, December 3rd. Finally, Bank of America lifted their price objective on shares of Bank of New York Mellon from $90.00 to $95.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $89.50.

Bank of New York Mellon Price Performance

NYSE:BK opened at $83.46 on Friday. The Bank of New York Mellon Co. has a one year low of $52.64 and a one year high of $90.34. The company has a market cap of $59.92 billion, a P/E ratio of 14.36, a P/E/G ratio of 0.97 and a beta of 1.06. The firm’s fifty day moving average price is $84.88 and its two-hundred day moving average price is $78.94. 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 data on Wednesday, January 15th. The bank reported $1.72 EPS for the quarter, beating the consensus estimate of $1.54 by $0.18. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The firm had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.66 billion. During the same period in the previous year, the company earned $1.28 earnings per share. The company’s quarterly revenue was up 11.2% on a year-over-year basis. Equities analysts expect that The Bank of New York Mellon Co. will post 6.96 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Shareholders 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 annualized dividend and a dividend yield of 2.25%. Bank of New York Mellon’s dividend payout ratio is currently 32.36%.

About Bank of New York Mellon

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.