MTM Investment Management LLC Purchases New Shares in The Bank of New York Mellon Co. (NYSE:BK)

MTM Investment Management LLC acquired a new stake in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 10,051 shares of the bank's stock, valued at approximately $772,000.

Several other hedge funds also recently modified their holdings of the company. Avidian Wealth Enterprises LLC raised its holdings in shares of Bank of New York Mellon by 3.5% during the fourth quarter. Avidian Wealth Enterprises LLC now owns 7,271 shares of the bank's stock worth $559,000 after acquiring an additional 247 shares in the last quarter. Great Lakes Retirement Inc. bought a new position in Bank of New York Mellon during the fourth quarter worth $588,000. Gladstone Institutional Advisory LLC bought a new position in shares of Bank of New York Mellon during the 4th quarter worth about $1,280,000. TFB Advisors LLC acquired a new position in Bank of New York Mellon in the 4th quarter valued at approximately $212,000. Finally, Certuity LLC raised its stake in shares of Bank of New York Mellon by 9.1% in the fourth quarter. Certuity LLC now owns 10,736 shares of the bank's stock valued at $825,000 after purchasing an additional 897 shares in the last quarter. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on BK. Keefe, Bruyette & Woods upped their price target on Bank of New York Mellon from $87.00 to $96.00 and gave the company an "outperform" rating in a research note on Tuesday, December 3rd. 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 note on Thursday, January 16th. StockNews.com cut Bank of New York Mellon from a "buy" rating to a "hold" rating in a research report on Thursday, February 6th. Citigroup lifted their price objective on shares of Bank of New York Mellon from $75.00 to $82.00 and gave the company a "neutral" rating in a report on Monday, November 25th. Finally, UBS Group raised their target price on shares of Bank of New York Mellon from $88.00 to $94.00 and gave the company a "buy" rating in a research report on Tuesday, January 21st. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $88.00.

Bank of New York Mellon Price Performance

Shares of BK stock traded up $1.06 on Monday, hitting $87.94. 5,104,218 shares of the company's stock were exchanged, compared to its average volume of 3,879,773. The company has a 50 day moving average of $81.23 and a 200 day moving average of $75.57. The stock has a market cap of $63.94 billion, a P/E ratio of 15.14, a price-to-earnings-growth ratio of 0.98 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. The Bank of New York Mellon Co. has a 12 month low of $52.64 and a 12 month high of $88.25.

Bank of New York Mellon (NYSE:BK - Get Free Report) last released its quarterly earnings data on Wednesday, January 15th. The bank reported $1.72 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 analysts' expectations of $4.66 billion. During the same period in the prior year, the company earned $1.28 EPS. The firm's quarterly revenue was up 11.2% compared to the same quarter last year. On average, equities research analysts predict that The Bank of New York Mellon Co. will post 6.89 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Shareholders 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 dividend on an annualized basis and a yield of 2.14%. Bank of New York Mellon's dividend payout ratio (DPR) is presently 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.