NEOS Investment Management LLC grew its position in The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 31.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 46,647 shares of the bank's stock after purchasing an additional 11,200 shares during the quarter. NEOS Investment Management LLC's holdings in Bank of New York Mellon were worth $3,584,000 as of its most recent SEC filing.
Several other large investors have also modified their holdings of BK. Graney & King LLC bought a new position in shares of Bank of New York Mellon in the fourth quarter worth about $35,000. Centricity Wealth Management LLC acquired a new stake in Bank of New York Mellon during the fourth quarter worth about $39,000. TCTC Holdings LLC increased its stake in Bank of New York Mellon by 257.5% during the fourth quarter. TCTC Holdings LLC now owns 597 shares of the bank's stock valued at $46,000 after acquiring an additional 430 shares during the period. Modus Advisors LLC bought a new stake in shares of Bank of New York Mellon in the 4th quarter worth approximately $49,000. Finally, Friedenthal Financial acquired a new stake in shares of Bank of New York Mellon during the 4th quarter worth approximately $56,000. 85.31% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of equities research analysts have weighed in on BK shares. StockNews.com downgraded shares of Bank of New York Mellon from a "buy" rating to a "hold" rating in a research note on Wednesday, February 19th. Truist Financial raised their price target on Bank of New York Mellon from $91.00 to $93.00 and gave the company a "buy" rating in a report on Thursday, January 16th. Evercore ISI boosted their target price on shares of Bank of New York Mellon from $83.00 to $87.00 and gave the stock an "in-line" rating in a research note on Tuesday. Keefe, Bruyette & Woods upped their price objective on Bank of New York Mellon from $87.00 to $96.00 and gave the stock an "outperform" rating in a report on Tuesday, December 3rd. Finally, Morgan Stanley lifted their target price on Bank of New York Mellon from $90.00 to $97.00 and gave the company an "overweight" rating in a research note on Thursday, January 16th. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, Bank of New York Mellon presently has an average rating of "Moderate Buy" and a consensus target price of $90.00.
View Our Latest Stock Analysis on Bank of New York Mellon
Bank of New York Mellon Trading Down 0.1 %
BK traded down $0.06 during mid-day trading on Tuesday, hitting $83.81. The stock had a trading volume of 699,415 shares, compared to its average volume of 3,887,480. The Bank of New York Mellon Co. has a 1-year low of $52.64 and a 1-year high of $90.34. The firm has a market capitalization of $60.17 billion, a price-to-earnings ratio of 14.41, a price-to-earnings-growth ratio of 0.97 and a beta of 1.06. 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 stock's fifty day simple moving average is $85.35 and its 200-day simple moving average is $79.80.
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 the consensus estimate of $1.54 by $0.18. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. The firm had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.66 billion. During the same period in the previous year, the company posted $1.28 earnings per share. The company's revenue for the quarter was up 11.2% on a year-over-year basis. As a group, research 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 business also recently declared a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Monday, January 27th were issued a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 2.24%. The ex-dividend date was Monday, January 27th. Bank of New York Mellon's dividend payout ratio (DPR) is presently 32.36%.
About Bank of New York Mellon
(
Free Report)
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.
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