Longbow Finance SA Invests $4.47 Million in The Bank of New York Mellon Co. (NYSE:BK)

Longbow Finance SA purchased a new stake in The Bank of New York Mellon Co. (NYSE:BK - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 58,187 shares of the bank's stock, valued at approximately $4,471,000.

A number of other institutional investors have also recently bought and sold shares of the stock. Centricity Wealth Management LLC acquired a new position in Bank of New York Mellon during the fourth quarter valued at $39,000. Fortitude Family Office LLC increased its holdings in shares of Bank of New York Mellon by 130.6% in the 3rd quarter. Fortitude Family Office LLC now owns 611 shares of the bank's stock valued at $44,000 after purchasing an additional 346 shares during the period. Ashton Thomas Securities LLC purchased a new stake in shares of Bank of New York Mellon in the third quarter worth approximately $46,000. Modus Advisors LLC acquired a new stake in shares of Bank of New York Mellon during the fourth quarter worth approximately $49,000. Finally, Concord Wealth Partners grew its position in Bank of New York Mellon by 150.5% during the third quarter. Concord Wealth Partners now owns 754 shares of the bank's stock valued at $54,000 after purchasing an additional 453 shares in the last quarter. Hedge funds and other institutional investors own 85.31% of the company's stock.

Bank of New York Mellon Stock Performance

BK traded up $1.97 on Friday, hitting $88.86. 7,187,969 shares of the stock traded hands, compared to its average volume of 4,209,997. The Bank of New York Mellon Co. has a 52 week low of $52.64 and a 52 week high of $89.44. The firm has a market capitalization of $64.60 billion, a PE ratio of 15.29, a P/E/G ratio of 0.97 and a beta of 1.08. The business has a fifty day moving average price of $82.80 and a two-hundred day moving average price of $76.93. 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 - Get Free Report) last posted its quarterly earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share for the quarter, topping analysts' consensus estimates of $1.54 by $0.18. The firm 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 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 in the previous year, the company earned $1.28 earnings per share. On average, research analysts predict that The Bank of New York Mellon Co. will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Monday, January 27th were paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date was Monday, January 27th. Bank of New York Mellon's dividend payout ratio is 32.36%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on BK. Morgan Stanley increased their target price on shares of Bank of New York Mellon from $90.00 to $97.00 and gave the stock an "overweight" rating in a research report on Thursday, January 16th. UBS Group increased their price objective 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. Truist Financial boosted their target price on Bank of New York Mellon from $91.00 to $93.00 and gave the company a "buy" rating in a research note on Thursday, January 16th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Bank of New York Mellon from $94.00 to $98.00 and gave the company a "buy" rating in a research report on Thursday, January 16th. Finally, Citigroup boosted their price target on Bank of New York Mellon from $75.00 to $82.00 and gave the stock a "neutral" rating in a research report on Monday, November 25th. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $88.00.

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.