Donoghue Forlines LLC Buys Shares of 46,265 The Bank of New York Mellon Co. (NYSE:BK)

Donoghue Forlines LLC purchased a new position in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 46,265 shares of the bank's stock, valued at approximately $3,555,000. Bank of New York Mellon makes up approximately 1.2% of Donoghue Forlines LLC's portfolio, making the stock its 8th largest position.

Several other large investors also recently bought and sold shares of the company. State Street Corp grew its position in shares of Bank of New York Mellon by 2.0% in the 3rd 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 in the last quarter. FMR LLC boosted its holdings in Bank of New York Mellon by 78.6% in the third quarter. FMR LLC now owns 19,338,722 shares of the bank's stock worth $1,389,680,000 after purchasing an additional 8,512,404 shares during the period. Ameriprise Financial Inc. increased its stake in Bank of New York Mellon by 4.2% during the second quarter. Ameriprise Financial Inc. now owns 10,416,436 shares of the bank's stock valued at $623,891,000 after purchasing an additional 421,161 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of Bank of New York Mellon by 1.2% during the second quarter. Legal & General Group Plc now owns 8,058,064 shares of the bank's stock worth $482,597,000 after purchasing an additional 97,286 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Bank of New York Mellon by 1.8% in 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 valued at $476,726,000 after buying an additional 117,974 shares during the period. Institutional investors and hedge funds own 85.31% of the company's stock.

Wall Street Analyst Weigh In

BK has been the subject of a number of research reports. JPMorgan Chase & Co. lifted their target price on Bank of New York Mellon from $69.00 to $77.00 and gave the company an "overweight" rating in a research note on Monday, October 7th. Truist Financial increased their target price on Bank of New York Mellon from $91.00 to $93.00 and gave the stock a "buy" rating in a research report on Thursday, January 16th. Evercore ISI upped their price target on shares of Bank of New York Mellon from $79.00 to $83.00 and gave the stock an "in-line" rating in a research report on Thursday, January 16th. 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. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Bank of New York Mellon from $94.00 to $98.00 and gave the company a "buy" rating in a research note on Thursday, January 16th. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $88.00.

Bank of New York Mellon Trading Up 0.5 %

NYSE BK traded up $0.42 on Thursday, hitting $84.75. 4,041,561 shares of the company were exchanged, compared to its average volume of 4,452,426. The Bank of New York Mellon Co. has a twelve month low of $52.64 and a twelve month high of $85.81. The company's 50 day moving average price is $79.23 and its 200-day moving average price is $72.82. The firm has a market capitalization of $61.62 billion, a P/E ratio of 14.59, a price-to-earnings-growth ratio of 0.97 and a beta of 1.08. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.69 and a quick ratio of 0.70.

Bank of New York Mellon (NYSE:BK - Get Free Report) last issued its quarterly earnings results on Wednesday, January 15th. The bank reported $1.72 EPS for the quarter, beating the consensus estimate of $1.54 by $0.18. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The business had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.66 billion. During the same quarter in the prior year, the firm earned $1.28 EPS. The firm's quarterly revenue was up 11.2% on a year-over-year basis. Analysts predict that The Bank of New York Mellon Co. will post 6.86 earnings per share for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Monday, January 27th will be issued a dividend of $0.47 per share. The ex-dividend date of this dividend is Monday, January 27th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.22%. Bank of New York Mellon's dividend payout ratio is 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.