The Bank of New York Mellon Co. (NYSE:BK) Shares Purchased by Corient Private Wealth LLC

Corient Private Wealth LLC increased its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 18.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 335,507 shares of the bank’s stock after acquiring an additional 51,913 shares during the quarter. Corient Private Wealth LLC’s holdings in Bank of New York Mellon were worth $24,896,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of BK. FMR LLC raised its holdings in Bank of New York Mellon by 78.6% in the 3rd quarter. FMR LLC now owns 19,338,722 shares of the bank’s stock valued at $1,389,680,000 after buying an additional 8,512,404 shares during the period. Wellington Management Group LLP raised its holdings in Bank of New York Mellon by 2,707.1% in the 3rd quarter. Wellington Management Group LLP now owns 3,258,967 shares of the bank’s stock valued at $234,189,000 after buying an additional 3,142,869 shares during the period. Raymond James Financial Inc. purchased a new stake in Bank of New York Mellon in the 4th quarter valued at about $90,955,000. Zacks Investment Management purchased a new stake in Bank of New York Mellon in the 3rd quarter valued at about $62,589,000. Finally, State Street Corp increased its stake in Bank of New York Mellon by 2.0% during the third quarter. State Street Corp now owns 33,313,594 shares of the bank’s stock worth $2,393,915,000 after purchasing an additional 659,096 shares during the period. Institutional investors and hedge funds own 85.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Truist Financial boosted their price target on shares of Bank of New York Mellon from $91.00 to $93.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Citigroup boosted their price target on shares of Bank of New York Mellon from $75.00 to $82.00 and gave the stock a “neutral” rating in a research note on Monday, November 25th. Wolfe Research lowered shares of Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. UBS Group boosted their price target on shares of Bank of New York Mellon from $88.00 to $94.00 and gave the stock a “buy” rating in a research note on Tuesday, January 21st. Finally, Wells Fargo & Company boosted their price target on shares of 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, March 3rd. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $89.50.

Bank of New York Mellon Stock Performance

Shares of BK opened at $82.62 on Wednesday. The stock has a 50 day moving average price of $84.48 and a 200 day moving average price of $78.76. 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 company has a market capitalization of $59.32 billion, a price-to-earnings ratio of 14.22, a price-to-earnings-growth ratio of 0.97 and a beta of 1.06. The Bank of New York Mellon Co. has a 52-week low of $52.64 and a 52-week high of $90.34.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.54 by $0.18. The firm had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.66 billion. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. The firm’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same period in the prior year, the company posted $1.28 earnings per share. Research 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 company also recently disclosed 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 2.28%. The ex-dividend date was Monday, January 27th. 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.