The Bank of New York Mellon Co. (NYSE:BK) Shares Purchased by Franklin Resources Inc.

Franklin Resources Inc. grew its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK) by 2.0% in the fourth quarter, HoldingsChannel reports. The fund owned 2,297,463 shares of the bank’s stock after buying an additional 44,734 shares during the period. Franklin Resources Inc.’s holdings in Bank of New York Mellon were worth $176,514,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Graney & King LLC bought a new stake in Bank of New York Mellon during the fourth quarter worth approximately $35,000. Centricity Wealth Management LLC bought a new stake in shares of Bank of New York Mellon in the 4th quarter worth $39,000. TCTC Holdings LLC lifted its holdings in shares of Bank of New York Mellon by 257.5% in the fourth quarter. TCTC Holdings LLC now owns 597 shares of the bank’s stock valued at $46,000 after buying an additional 430 shares during the period. Modus Advisors LLC acquired a new stake in shares of Bank of New York Mellon in the fourth quarter valued at $49,000. Finally, Friedenthal Financial bought a new position in Bank of New York Mellon during the fourth quarter valued at about $56,000. Institutional investors own 85.31% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on BK shares. Morgan Stanley upped their price target on shares of Bank of New York Mellon from $90.00 to $97.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Bank of America raised their target price on shares of Bank of New York Mellon from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Truist Financial upped their price target on Bank of New York Mellon from $91.00 to $93.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Evercore ISI increased their price objective on Bank of New York Mellon from $83.00 to $87.00 and gave the company an “in-line” rating in a research report on Tuesday. Finally, UBS Group lifted their target price on Bank of New York Mellon from $88.00 to $94.00 and gave the stock a “buy” rating in a report on Tuesday, January 21st. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, Bank of New York Mellon presently has a consensus rating of “Moderate Buy” and a consensus target price of $90.00.

Bank of New York Mellon Stock Down 0.2 %

NYSE:BK opened at $83.74 on Wednesday. The business’s fifty day moving average price is $85.33 and its 200 day moving average price is $79.90. The firm has a market capitalization 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 has a current ratio of 0.69, a quick ratio of 0.70 and a debt-to-equity ratio of 0.83. 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 issued 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. The company had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.66 billion. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. The firm’s quarterly revenue was up 11.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.28 EPS. On average, sell-side analysts forecast 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 company also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Monday, January 27th were issued a dividend of $0.47 per share. The ex-dividend date was Monday, January 27th. This represents a $1.88 annualized dividend and a dividend yield of 2.24%. Bank of New York Mellon’s dividend payout ratio is 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.