Diametric Capital LP Invests $256,000 in The Bank of New York Mellon Co. (NYSE:BK)

Diametric Capital LP acquired a new stake in The Bank of New York Mellon Co. (NYSE:BK - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 3,334 shares of the bank's stock, valued at approximately $256,000.

Several other institutional investors have also recently bought and sold shares of the business. Graney & King LLC acquired a new stake in shares of Bank of New York Mellon in the fourth quarter valued at approximately $35,000. Centricity Wealth Management LLC bought a new position in Bank of New York Mellon in the 4th quarter valued at $39,000. TCTC Holdings LLC increased its stake in shares of Bank of New York Mellon by 257.5% in the 4th 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 bought a new stake in shares of Bank of New York Mellon during the fourth quarter worth $49,000. Finally, Friedenthal Financial acquired a new position in shares of Bank of New York Mellon during the fourth quarter valued at $56,000. Institutional investors own 85.31% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on BK. Evercore ISI boosted their price objective on Bank of New York Mellon from $83.00 to $87.00 and gave the stock an "in-line" rating in a report on Tuesday, April 1st. Morgan Stanley dropped their price target on shares of Bank of New York Mellon from $99.00 to $98.00 and set an "overweight" rating for the company in a research note on Wednesday. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $90.00 price objective on shares of Bank of New York Mellon in a research note on Monday, March 17th. Deutsche Bank Aktiengesellschaft upped their target price 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, Wolfe Research lowered Bank of New York Mellon from an "outperform" rating to a "peer perform" rating in a research report on Friday, January 3rd. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $89.86.

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Bank of New York Mellon Stock Down 8.4 %

NYSE BK traded down $6.74 during trading hours on Friday, reaching $73.17. 6,696,668 shares of the company's stock were exchanged, compared to its average volume of 3,928,838. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.70 and a current ratio of 0.69. The Bank of New York Mellon Co. has a one year low of $52.64 and a one year high of $90.34. The company's 50-day moving average is $84.98 and its two-hundred day moving average is $80.02. The company has a market capitalization of $52.53 billion, a price-to-earnings ratio of 12.59, a price-to-earnings-growth ratio of 0.97 and a beta of 1.03.

Bank of New York Mellon (NYSE:BK - Get Free Report) last issued its quarterly earnings data on Wednesday, January 15th. The bank reported $1.72 EPS for the quarter, topping analysts' consensus estimates of $1.54 by $0.18. The business 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 quarterly revenue was up 11.2% on a year-over-year basis. During the same period last year, the business posted $1.28 earnings per share. On average, analysts forecast that The Bank of New York Mellon Co. will post 6.96 EPS 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. Stockholders of record on Monday, January 27th were given 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 2.57%. Bank of New York Mellon's dividend payout ratio is currently 32.36%.

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.