Burns Matteson Capital Management LLC Makes New $245,000 Investment in The Bank of New York Mellon Co. (NYSE:BK)

Burns Matteson Capital Management LLC acquired a new stake in The Bank of New York Mellon Co. (NYSE:BK - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 3,193 shares of the bank's stock, valued at approximately $245,000.

A number of other large investors have also recently modified their holdings of the business. State Street Corp boosted its holdings in shares of Bank of New York Mellon by 2.0% during the 3rd quarter. State Street Corp now owns 33,313,594 shares of the bank's stock valued at $2,393,915,000 after acquiring an additional 659,096 shares in the last quarter. FMR LLC boosted its stake 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 valued at $1,389,680,000 after purchasing an additional 8,512,404 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Bank of New York Mellon by 1.8% during the third 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 increased its stake in shares of 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 during the period. Finally, Franklin Resources Inc. raised its holdings in Bank of New York Mellon by 8.3% in the 3rd quarter. Franklin Resources Inc. now owns 2,252,729 shares of the bank's stock valued at $172,348,000 after buying an additional 173,347 shares during the last quarter. Institutional investors and hedge funds own 85.31% of the company's stock.

Bank of New York Mellon Stock Down 0.0 %

BK traded down $0.01 during trading on Tuesday, hitting $85.02. 1,018,526 shares of the company's stock were exchanged, compared to its average volume of 3,784,527. The Bank of New York Mellon Co. has a fifty-two week low of $52.64 and a fifty-two week high of $87.70. The stock has a market cap of $61.82 billion, a P/E ratio of 14.62, a PEG ratio of 0.98 and a beta of 1.08. The business's 50 day moving average is $80.77 and its two-hundred day moving average is $74.97. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.83.

Bank of New York Mellon (NYSE:BK - Get Free Report) last posted its 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 company had revenue of $4.85 billion for the quarter, compared to analyst estimates 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 was up 11.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.28 EPS. As a group, equities analysts expect that The Bank of New York Mellon Co. will post 6.89 earnings per share for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Monday, January 27th were paid a $0.47 dividend. The ex-dividend date of this dividend was Monday, January 27th. This represents a $1.88 annualized dividend and a dividend yield of 2.21%. Bank of New York Mellon's payout ratio is 32.36%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on BK. Bank of America upped their price target on shares of Bank of New York Mellon from $90.00 to $95.00 and gave the company a "buy" rating in a research 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 research report on Thursday, January 16th. Keefe, Bruyette & Woods boosted their price target on shares of Bank of New York Mellon from $87.00 to $96.00 and gave the stock an "outperform" rating in a research report on Tuesday, December 3rd. UBS Group lifted their target price on shares of Bank of New York Mellon from $88.00 to $94.00 and gave the stock a "buy" rating in a research note on Tuesday, January 21st. Finally, Wells Fargo & Company boosted their price objective on Bank of New York Mellon from $82.00 to $86.00 and gave the company an "equal weight" rating in a research note on Thursday, January 16th. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock currently 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.