Nomura Asset Management Co. Ltd. Buys 493 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Nomura Asset Management Co. Ltd. increased its stake in The Bank of New York Mellon Co. (NYSE:BK) by 0.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 228,137 shares of the bank’s stock after buying an additional 493 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Bank of New York Mellon were worth $17,528,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of BK. New Age Alpha Advisors LLC lifted its holdings in shares of Bank of New York Mellon by 5,626.8% in the 4th quarter. New Age Alpha Advisors LLC now owns 14,546 shares of the bank’s stock worth $1,118,000 after acquiring an additional 14,292 shares during the last quarter. Norges Bank bought a new stake in Bank of New York Mellon in the fourth quarter worth about $1,150,462,000. Blair William & Co. IL grew its stake in shares of Bank of New York Mellon by 3.9% during the fourth quarter. Blair William & Co. IL now owns 24,605 shares of the bank’s stock valued at $1,890,000 after buying an additional 930 shares during the last quarter. Caisse Des Depots ET Consignations purchased a new stake in shares of Bank of New York Mellon in the fourth quarter worth approximately $6,501,000. Finally, Loomis Sayles & Co. L P lifted its stake in shares of Bank of New York Mellon by 32.0% during the 4th quarter. Loomis Sayles & Co. L P now owns 1,840 shares of the bank’s stock worth $141,000 after acquiring an additional 446 shares during the last quarter. 85.31% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have commented on BK. Morgan Stanley upped their price objective on Bank of New York Mellon from $90.00 to $97.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. StockNews.com cut shares of Bank of New York Mellon from a “buy” rating to a “hold” rating in a report on Wednesday, February 19th. Truist Financial boosted 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. Barclays raised their target price on shares of Bank of New York Mellon from $102.00 to $104.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Finally, Wolfe Research lowered Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $89.71.

Bank of New York Mellon Price Performance

BK opened at $82.67 on Friday. The firm has a market capitalization of $59.35 billion, a PE ratio of 14.23, 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. The business’s 50-day moving average is $85.34 and its two-hundred day moving average is $79.61. The Bank of New York Mellon Co. has a 1 year low of $52.64 and a 1 year high of $90.34.

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. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The business had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.66 billion. During the same period last year, the business earned $1.28 EPS. The company’s revenue was up 11.2% compared to the same quarter last year. Research analysts anticipate that The Bank of New York Mellon Co. will post 6.96 earnings per share for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Monday, January 27th were issued a dividend of $0.47 per share. The ex-dividend date of this dividend was Monday, January 27th. This represents a $1.88 annualized dividend and a dividend yield of 2.27%. Bank of New York Mellon’s dividend payout ratio is presently 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.