Versor Investments LP Takes Position in The Bank of New York Mellon Co. (NYSE:BK)

Versor Investments LP purchased a new stake in The Bank of New York Mellon Co. (NYSE:BK - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 15,295 shares of the bank's stock, valued at approximately $1,175,000.

Several other hedge funds and other institutional investors have also made changes to their positions in BK. Centricity Wealth Management LLC purchased a new stake in Bank of New York Mellon in the 4th quarter valued at approximately $39,000. Ashton Thomas Securities LLC acquired a new position in shares of Bank of New York Mellon in the third quarter worth $46,000. Modus Advisors LLC purchased a new stake in shares of Bank of New York Mellon in the fourth quarter valued at $49,000. Friedenthal Financial acquired a new stake in shares of Bank of New York Mellon during the fourth quarter valued at $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. Institutional investors and hedge funds own 85.31% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on BK shares. Morgan Stanley upped their target price on shares of Bank of New York Mellon from $90.00 to $97.00 and gave the company an "overweight" rating in a report on Thursday, January 16th. UBS Group raised their target price on shares of Bank of New York Mellon from $88.00 to $94.00 and gave the stock a "buy" rating in a research report on Tuesday, January 21st. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Bank of New York Mellon from $94.00 to $98.00 and gave the stock a "buy" rating in a research note on Thursday, January 16th. Wells Fargo & Company increased 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 research note on Monday. 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 report on Thursday, January 16th. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $88.71.

Bank of New York Mellon Trading Down 0.7 %

BK stock traded down $0.63 during midday trading on Monday, reaching $88.32. 4,374,387 shares of the company's stock traded hands, compared to its average volume of 4,213,864. The Bank of New York Mellon Co. has a fifty-two week low of $52.64 and a fifty-two week high of $90.34. The business has a 50-day moving average price of $83.02 and a two-hundred day moving average price of $77.30. The company has a market capitalization of $64.22 billion, a P/E ratio of 15.20, a PEG ratio of 0.97 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.

Bank of New York Mellon (NYSE:BK - Get Free Report) last announced its quarterly earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share 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 firm 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 revenue was up 11.2% on a year-over-year basis. Equities 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 Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Monday, January 27th were issued a dividend of $0.47 per share. The ex-dividend date of this dividend was Monday, January 27th. This represents a $1.88 annualized dividend and a dividend yield of 2.13%. Bank of New York Mellon's payout ratio is currently 32.36%.

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.