Blair William & Co. IL Grows Stock Position in The Bank of New York Mellon Co. (NYSE:BK)

Blair William & Co. IL lifted its stake in The Bank of New York Mellon Co. (NYSE:BK) by 3.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 24,605 shares of the bank’s stock after buying an additional 930 shares during the quarter. Blair William & Co. IL’s holdings in Bank of New York Mellon were worth $1,890,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BK. State Street Corp boosted its position in Bank of New York Mellon by 2.0% in the 3rd quarter. State Street Corp now owns 33,313,594 shares of the bank’s stock worth $2,393,915,000 after purchasing an additional 659,096 shares in the last quarter. Amundi boosted its holdings in Bank of New York Mellon by 5.1% during the fourth quarter. Amundi now owns 7,363,015 shares of the bank’s stock worth $573,947,000 after buying an additional 359,942 shares in the last quarter. Wellington Management Group LLP increased its holdings in Bank of New York Mellon by 2,707.1% in the third quarter. Wellington Management Group LLP now owns 3,258,967 shares of the bank’s stock valued at $234,189,000 after buying an additional 3,142,869 shares in the last quarter. Franklin Resources Inc. raised its position in shares of Bank of New York Mellon by 8.3% in the third quarter. Franklin Resources Inc. now owns 2,252,729 shares of the bank’s stock worth $172,348,000 after acquiring an additional 173,347 shares during the period. Finally, National Pension Service boosted its stake in shares of Bank of New York Mellon by 17.6% during the 4th quarter. National Pension Service now owns 2,177,055 shares of the bank’s stock worth $167,263,000 after acquiring an additional 325,786 shares in the last quarter. 85.31% of the stock is owned by institutional investors and hedge funds.

Bank of New York Mellon Trading Down 0.2 %

Shares of BK stock opened at $83.74 on Wednesday. The Bank of New York Mellon Co. has a twelve month low of $52.64 and a twelve month high of $90.34. The stock has a market cap of $60.12 billion, a price-to-earnings ratio of 14.41, a PEG ratio of 0.97 and a beta of 1.06. The company’s 50-day moving average price is $85.33 and its 200-day moving average price is $79.90. The company has a current ratio of 0.69, a quick ratio of 0.70 and a debt-to-equity ratio of 0.83.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.54 by $0.18. The business had revenue of $4.85 billion during the quarter, compared to the consensus estimate 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 business’s revenue was up 11.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.28 EPS. As a group, equities analysts predict that The Bank of New York Mellon Co. will post 6.96 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The firm also recently declared 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. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date was Monday, January 27th. Bank of New York Mellon’s dividend payout ratio is presently 32.36%.

Wall Street Analyst Weigh In

BK has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft upped their price target on Bank of New York Mellon from $94.00 to $98.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Citigroup increased their target price on Bank of New York Mellon from $82.00 to $85.00 and gave the company a “neutral” rating in a research report on Monday, March 24th. Barclays lifted their price target on shares of Bank of New York Mellon from $102.00 to $104.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Bank of America increased 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. Finally, Truist Financial upped their price target on shares of Bank of New York Mellon from $91.00 to $93.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $90.00.

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.