PKS Advisory Services LLC Invests $2.02 Million in The Bank of New York Mellon Co. (NYSE:BK)

PKS Advisory Services LLC acquired a new position in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 26,221 shares of the bank's stock, valued at approximately $2,015,000.

A number of other large investors have also recently bought and sold shares of BK. Centricity Wealth Management LLC bought a new stake in shares of Bank of New York Mellon during the 4th quarter worth $39,000. TCTC Holdings LLC lifted its holdings in shares of Bank of New York Mellon by 257.5% in the fourth quarter. TCTC Holdings LLC now owns 597 shares of the bank's stock worth $46,000 after acquiring an additional 430 shares during the last quarter. Modus Advisors LLC acquired a new stake in shares of Bank of New York Mellon in the 4th quarter valued at approximately $49,000. Friedenthal Financial bought a new stake in shares of Bank of New York Mellon during the 4th quarter valued at approximately $56,000. Finally, Asset Dedication LLC increased its position in Bank of New York Mellon by 342.1% during the 4th quarter. Asset Dedication LLC now owns 756 shares of the bank's stock worth $58,000 after purchasing an additional 585 shares in the last quarter. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Bank of New York Mellon Trading Down 2.1 %

Shares of Bank of New York Mellon stock traded down $1.81 on Friday, reaching $82.67. 2,643,554 shares of the company's stock were exchanged, compared to its average volume of 3,898,259. 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 company has a market capitalization of $59.35 billion, a P/E ratio of 14.23, a price-to-earnings-growth ratio of 0.97 and a beta of 1.06. The firm's 50-day moving average is $85.34 and its two-hundred day moving average is $79.53. The Bank of New York Mellon Co. has a 52 week low of $52.64 and a 52 week high of $90.34.

Remove Ads

Bank of New York Mellon (NYSE:BK - Get Free Report) last announced its quarterly earnings data on Wednesday, January 15th. The bank reported $1.72 EPS for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $4.66 billion. During the same quarter last year, the firm posted $1.28 earnings per share. The company's revenue for the quarter was up 11.2% compared to the same quarter last year. Sell-side analysts predict 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 disclosed a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Monday, January 27th were paid a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 2.27%. The ex-dividend date of this dividend was Monday, January 27th. Bank of New York Mellon's dividend payout ratio (DPR) is presently 32.36%.

Wall Street Analyst Weigh In

BK has been the topic of a number of research reports. Evercore ISI boosted their target price 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 note on Thursday, January 16th. Morgan Stanley boosted their price objective on Bank of New York Mellon from $90.00 to $97.00 and gave the stock an "overweight" rating in a research report on Thursday, January 16th. Truist Financial increased their target price on Bank of New York Mellon from $91.00 to $93.00 and gave the company a "buy" rating in a research report on Thursday, January 16th. Wells Fargo & Company boosted their price target on Bank of New York Mellon from $86.00 to $96.00 and gave the stock an "equal weight" rating in a report on Monday, March 3rd. Finally, Barclays lifted 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 research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, Bank of New York Mellon currently has an average rating of "Moderate Buy" and a consensus target price of $89.71.

Bank of New York Mellon 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.