Aster Capital Management DIFC Ltd Has $1.48 Million Position in The Bank of New York Mellon Co. (NYSE:BK)

Aster Capital Management DIFC Ltd lifted its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 117.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,249 shares of the bank’s stock after acquiring an additional 10,408 shares during the period. Bank of New York Mellon makes up approximately 0.6% of Aster Capital Management DIFC Ltd’s portfolio, making the stock its 29th biggest position. Aster Capital Management DIFC Ltd’s holdings in Bank of New York Mellon were worth $1,479,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Graney & King LLC acquired a new position in Bank of New York Mellon in the fourth quarter valued at approximately $35,000. Centricity Wealth Management LLC acquired a new position in shares of Bank of New York Mellon during the 4th quarter valued at $39,000. TCTC Holdings LLC lifted its position in shares of Bank of New York Mellon by 257.5% during the 4th 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 acquired a new stake in Bank of New York Mellon in the fourth quarter worth $49,000. Finally, Friedenthal Financial bought a new stake in Bank of New York Mellon in the fourth quarter valued at $56,000. 85.31% of the stock is owned by institutional investors and hedge funds.

Bank of New York Mellon Stock Down 8.4 %

Shares of NYSE:BK opened at $73.17 on Friday. The company has a market capitalization of $52.53 billion, a PE ratio of 12.59, a price-to-earnings-growth ratio of 0.97 and a beta of 1.03. The Bank of New York Mellon Co. has a 1 year low of $52.64 and a 1 year high of $90.34. 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 business has a fifty day moving average price of $84.98 and a two-hundred day moving average price of $80.02.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.18. The company had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.66 billion. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The firm’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.28 earnings per share. Analysts forecast 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 business also recently declared a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Monday, January 27th were issued 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 dividend yield of 2.57%. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 32.36%.

Analysts Set New Price Targets

Several analysts have recently commented on BK shares. Wolfe Research downgraded Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. Royal Bank of Canada reissued a “sector perform” rating and issued a $90.00 price objective on shares of Bank of New York Mellon in a research note on Monday, March 17th. StockNews.com lowered Bank of New York Mellon from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Truist Financial reduced their price target on shares of Bank of New York Mellon from $93.00 to $90.00 and set a “buy” rating for the company in a research report on Friday. Finally, Wells Fargo & Company upped their price objective on shares of 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. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.86.

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.