Proficio Capital Partners LLC Takes Position in The Bank of New York Mellon Co. (NYSE:BK)

Proficio Capital Partners LLC bought a new stake in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 150,659 shares of the bank's stock, valued at approximately $11,575,000.

A number of other large investors have also modified their holdings of BK. State Street Corp grew its position in shares of Bank of New York Mellon by 2.0% during the third quarter. State Street Corp now owns 33,313,594 shares of the bank's stock worth $2,393,915,000 after acquiring an additional 659,096 shares during the last quarter. FMR LLC raised its holdings in shares of Bank of New York Mellon by 78.6% during the third quarter. FMR LLC now owns 19,338,722 shares of the bank's stock worth $1,389,680,000 after acquiring an additional 8,512,404 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Bank of New York Mellon by 1.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,634,088 shares of the bank's stock worth $476,726,000 after purchasing an additional 117,974 shares during the last quarter. Wellington Management Group LLP lifted its holdings in Bank of New York Mellon by 2,707.1% in the 3rd quarter. Wellington Management Group LLP now owns 3,258,967 shares of the bank's stock worth $234,189,000 after purchasing an additional 3,142,869 shares during the last quarter. Finally, Franklin Resources Inc. increased its stake 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 purchasing an additional 173,347 shares during the period. Institutional investors and hedge funds own 85.31% of the company's stock.

Bank of New York Mellon Trading Down 0.7 %

NYSE BK traded down $0.63 during trading on Monday, hitting $88.32. 4,374,784 shares of the company's stock traded hands, compared to its average volume of 4,214,189. The firm has a market cap of $64.22 billion, a P/E ratio of 15.20, a PEG ratio of 0.97 and a beta of 1.08. The stock has a fifty day moving average of $83.02 and a two-hundred day moving average of $77.30. 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 Bank of New York Mellon Co. has a 12-month low of $52.64 and a 12-month high of $90.34.

Bank of New York Mellon (NYSE:BK - Get Free Report) last released its quarterly earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.18. The business had revenue of $4.85 billion for the quarter, compared to analysts' expectations 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 firm's revenue for the quarter was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.28 earnings per share. As a group, sell-side analysts expect that The Bank of New York Mellon Co. will post 6.96 EPS for the current year.

Bank of New York Mellon Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Monday, January 27th were issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date was Monday, January 27th. Bank of New York Mellon's payout ratio is 32.36%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on BK shares. Citigroup lifted their target price on shares of Bank of New York Mellon from $75.00 to $82.00 and gave the company a "neutral" rating in a research report on Monday, November 25th. StockNews.com lowered Bank of New York Mellon from a "buy" rating to a "hold" rating in a research report on Wednesday, February 19th. Deutsche Bank Aktiengesellschaft raised their target price 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. Truist Financial increased their price target on Bank of New York Mellon from $91.00 to $93.00 and gave the stock a "buy" rating in a report on Thursday, January 16th. Finally, Wells Fargo & Company lifted their price target on Bank of New York Mellon from $86.00 to $96.00 and gave the company an "equal weight" rating in a research note on Monday. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $88.71.

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.