SRN Advisors LLC Increases Position in The Bank of New York Mellon Co. (NYSE:BK)

SRN Advisors LLC grew its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 170.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,070 shares of the bank's stock after purchasing an additional 9,500 shares during the period. SRN Advisors LLC's holdings in Bank of New York Mellon were worth $1,158,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in BK. Centricity Wealth Management LLC purchased a new position in Bank of New York Mellon in the 4th quarter worth $39,000. Fortitude Family Office LLC raised its stake in Bank of New York Mellon by 130.6% in the 3rd quarter. Fortitude Family Office LLC now owns 611 shares of the bank's stock worth $44,000 after acquiring an additional 346 shares during the last quarter. Modus Advisors LLC purchased a new position in Bank of New York Mellon in the 4th quarter worth $49,000. Ashton Thomas Securities LLC purchased a new position in Bank of New York Mellon in the 3rd quarter worth $46,000. Finally, Friedenthal Financial purchased a new position in Bank of New York Mellon in the 4th quarter worth $56,000. Hedge funds and other institutional investors own 85.31% of the company's stock.

Bank of New York Mellon Price Performance

Shares of NYSE:BK traded up $1.97 during trading on Friday, reaching $88.86. 7,187,969 shares of the company's stock traded hands, compared to its average volume of 4,209,997. The Bank of New York Mellon Co. has a fifty-two week low of $52.64 and a fifty-two week high of $89.44. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.83. The firm has a market cap of $64.60 billion, a PE ratio of 15.29, a P/E/G ratio of 0.97 and a beta of 1.08. The company has a 50-day simple moving average of $83.02 and a 200-day simple moving average of $77.21.

Bank of New York Mellon (NYSE:BK - Get Free Report) last posted its quarterly earnings data on Wednesday, January 15th. The bank reported $1.72 earnings per share (EPS) 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 company had revenue of $4.85 billion for the quarter, compared to analysts' expectations of $4.66 billion. During the same period in the previous year, the firm posted $1.28 EPS. Bank of New York Mellon's revenue was up 11.2% compared to the same quarter last year. As a group, analysts predict that The Bank of New York Mellon Co. will post 6.96 earnings per share 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. Investors of record on Monday, January 27th were issued a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 2.12%. The ex-dividend date was Monday, January 27th. Bank of New York Mellon's payout ratio is 32.36%.

Analyst Ratings Changes

BK has been the subject of a number of research analyst reports. Evercore ISI raised their target price on 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. Bank of America lifted their price objective on Bank of New York Mellon from $90.00 to $95.00 and gave the company a "buy" rating in a research note on Thursday, January 16th. Morgan Stanley lifted their price objective 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. Citigroup lifted their price objective on Bank of New York Mellon from $75.00 to $82.00 and gave the company a "neutral" rating in a research note on Monday, November 25th. Finally, Truist Financial lifted their price objective on Bank of New York Mellon from $91.00 to $93.00 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 issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $88.00.

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.