The Bank of New York Mellon Co. (NYSE:BK) Stock Position Raised by Bailard Inc.

Bailard Inc. lifted its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK) by 2.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 22,881 shares of the bank’s stock after buying an additional 609 shares during the period. Bailard Inc.’s holdings in Bank of New York Mellon were worth $1,758,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of BK. Centricity Wealth Management LLC bought a new stake in shares of Bank of New York Mellon during the 4th quarter valued at about $39,000. Ashton Thomas Securities LLC bought a new position in Bank of New York Mellon in the 3rd quarter worth about $46,000. Modus Advisors LLC bought a new position in Bank of New York Mellon in the 4th quarter worth about $49,000. Friedenthal Financial bought a new position in Bank of New York Mellon in the 4th quarter worth about $56,000. Finally, Asset Dedication LLC grew its position in Bank of New York Mellon by 342.1% in the 4th quarter. Asset Dedication LLC now owns 756 shares of the bank’s stock worth $58,000 after purchasing an additional 585 shares during the last quarter. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Stock Up 2.3 %

BK stock opened at $88.86 on Monday. The Bank of New York Mellon Co. has a 12 month low of $52.64 and a 12 month high of $89.44. 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 firm has a 50 day simple moving average of $83.02 and a 200 day simple moving average of $77.30. 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) last released its earnings results on Wednesday, January 15th. The bank reported $1.72 EPS for the quarter, beating the consensus estimate 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 business had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.66 billion. During the same period in the prior year, the business earned $1.28 earnings per share. The business’s quarterly 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 earnings per share for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Monday, January 27th were paid a dividend of $0.47 per share. 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 dividend payout ratio is presently 32.36%.

Wall Street Analyst Weigh In

BK has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft upped 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 report on Thursday, January 16th. Truist Financial upped their target price on shares of Bank of New York Mellon from $91.00 to $93.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Evercore ISI upped 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 report on Thursday, January 16th. Barclays upped 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. Finally, 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. 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, the stock currently has an average rating of “Moderate Buy” and an average price target of $88.00.

About Bank of New York Mellon

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.