Hickory Asset Management Inc. Makes New Investment in The Bank of New York Mellon Co. (NYSE:BK)

Hickory Asset Management Inc. bought a new position in The Bank of New York Mellon Co. (NYSE:BK - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 4,320 shares of the bank's stock, valued at approximately $332,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Manchester Capital Management LLC increased its stake in Bank of New York Mellon by 34.8% in the 4th quarter. Manchester Capital Management LLC now owns 10,476 shares of the bank's stock worth $805,000 after purchasing an additional 2,703 shares during the period. PUREfi Wealth LLC purchased a new stake in Bank of New York Mellon in the 4th quarter worth approximately $247,000. ABC Arbitrage SA bought a new stake in shares of Bank of New York Mellon in the 4th quarter worth approximately $2,418,000. Valeo Financial Advisors LLC increased its stake in shares of Bank of New York Mellon by 1.6% during 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 during the period. Finally, Blue Trust Inc. raised its holdings in shares of Bank of New York Mellon by 12.3% during the fourth quarter. Blue Trust Inc. now owns 1,879 shares of the bank's stock valued at $144,000 after acquiring an additional 206 shares in the last quarter. Hedge funds and other institutional investors own 85.31% of the company's stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Wolfe Research downgraded shares of Bank of New York Mellon from an "outperform" rating to a "peer perform" rating in a research report on Friday, January 3rd. Deutsche Bank Aktiengesellschaft raised their price objective on shares of 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 upped their target price 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. Barclays raised their target price on 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. Finally, Evercore ISI upped their price target on Bank of New York Mellon from $79.00 to $83.00 and gave the stock an "in-line" rating in a research note on Thursday, January 16th. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, Bank of New York Mellon currently has an average rating of "Moderate Buy" and a consensus price target of $88.00.

Bank of New York Mellon Stock Down 0.7 %

Shares of BK traded down $0.66 during trading hours on Wednesday, hitting $88.25. The company had a trading volume of 1,952,393 shares, compared to its average volume of 3,857,782. The stock has a market capitalization of $64.16 billion, a price-to-earnings ratio of 15.18, a P/E/G ratio of 0.99 and a beta of 1.08. The firm has a fifty day moving average price of $81.54 and a 200-day moving average price of $75.92. The Bank of New York Mellon Co. has a 52-week low of $52.64 and a 52-week high of $89.44. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.70 and a current ratio of 0.69.

Bank of New York Mellon (NYSE:BK - Get Free Report) last issued its earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.18. The business had revenue of $4.85 billion during 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 business's revenue for the quarter was up 11.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.28 earnings per share. On average, equities research analysts forecast that The Bank of New York Mellon Co. will post 6.93 EPS 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. Investors of record on Monday, January 27th were given a $0.47 dividend. The ex-dividend date was Monday, January 27th. This represents a $1.88 annualized dividend and a yield of 2.13%. Bank of New York Mellon's dividend payout ratio (DPR) 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.