Huntington National Bank Acquires 5,778 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Huntington National Bank boosted its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 76.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,346 shares of the bank's stock after purchasing an additional 5,778 shares during the period. Huntington National Bank's holdings in Bank of New York Mellon were worth $1,025,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Graney & King LLC bought a new position in shares of Bank of New York Mellon during the fourth quarter valued at $35,000. Centricity Wealth Management LLC bought a new position in Bank of New York Mellon during the 4th quarter valued at about $39,000. TCTC Holdings LLC boosted its position in Bank of New York Mellon by 257.5% in the fourth quarter. TCTC Holdings LLC now owns 597 shares of the bank's stock valued at $46,000 after buying an additional 430 shares in the last quarter. Modus Advisors LLC acquired a new position in Bank of New York Mellon in the fourth quarter valued at about $49,000. Finally, Friedenthal Financial acquired a new stake in shares of Bank of New York Mellon during the fourth quarter worth approximately $56,000. 85.31% of the stock is owned by institutional investors and hedge funds.

Bank of New York Mellon Trading Up 8.0 %

BK traded up $5.85 during midday trading on Wednesday, reaching $79.35. 6,400,396 shares of the company were exchanged, compared to its average volume of 3,962,468. 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 stock has a market capitalization of $56.97 billion, a P/E ratio of 13.66, a PEG ratio of 0.97 and a beta of 1.03. The stock's 50-day simple moving average is $83.95 and its 200 day simple moving average is $80.10. The Bank of New York Mellon Co. has a one year low of $52.64 and a one year high of $90.34.

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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.54 by $0.18. The firm 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% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.28 earnings per share. As a group, analysts forecast that The Bank of New York Mellon Co. will post 6.96 earnings per share for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Monday, January 27th were issued a $0.47 dividend. The ex-dividend date was Monday, January 27th. This represents a $1.88 annualized dividend and a dividend yield of 2.37%. Bank of New York Mellon's dividend payout ratio (DPR) is currently 32.36%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on BK shares. Bank of America increased their price target on Bank of New York Mellon from $90.00 to $95.00 and gave the stock a "buy" rating in a research report on Thursday, January 16th. StockNews.com lowered Bank of New York Mellon from a "buy" rating to a "hold" rating in a research note on Wednesday, February 19th. Truist Financial cut their price target on Bank of New York Mellon from $93.00 to $90.00 and set a "buy" rating for the company in a report on Friday, April 4th. 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, Barclays upped their target price on shares of Bank of New York Mellon from $102.00 to $104.00 and gave the stock an "overweight" rating in a research report 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 company. Based on data from MarketBeat, Bank of New York Mellon currently has a consensus rating of "Moderate Buy" and a consensus price target of $89.86.

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.