Werba Rubin Papier Wealth Management Takes $229,000 Position in The Bank of New York Mellon Co. (NYSE:BK)

Werba Rubin Papier Wealth Management acquired a new position in shares of The Bank of New York Mellon Co. (NYSE:BK) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 2,982 shares of the bank’s stock, valued at approximately $229,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Bleakley Financial Group LLC raised its stake in shares of Bank of New York Mellon by 6.4% in the third quarter. Bleakley Financial Group LLC now owns 10,664 shares of the bank’s stock valued at $766,000 after acquiring an additional 646 shares in the last quarter. Blue Trust Inc. increased its stake in shares of Bank of New York Mellon by 95.4% during the third quarter. Blue Trust Inc. now owns 1,673 shares of the bank’s stock worth $120,000 after buying an additional 817 shares during the period. Cyndeo Wealth Partners LLC grew its holdings in Bank of New York Mellon by 5.2% during the 3rd quarter. Cyndeo Wealth Partners LLC now owns 5,701 shares of the bank’s stock worth $410,000 after acquiring an additional 282 shares in the last quarter. Ledyard National Bank grew its stake in shares of Bank of New York Mellon by 20.8% during the third quarter. Ledyard National Bank now owns 4,629 shares of the bank’s stock worth $333,000 after purchasing an additional 798 shares in the last quarter. Finally, Foundations Investment Advisors LLC boosted its position in shares of Bank of New York Mellon by 10.8% during the 3rd quarter. Foundations Investment Advisors LLC now owns 9,302 shares of the bank’s stock worth $668,000 after acquiring an additional 909 shares in the last quarter. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Bank of New York Mellon Stock Performance

Shares of NYSE:BK opened at $88.94 on Wednesday. The firm has a market capitalization of $64.66 billion, a PE ratio of 15.31, a P/E/G ratio of 0.98 and a beta of 1.08. The Bank of New York Mellon Co. has a 12 month low of $52.64 and a 12 month high of $89.44. 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 50-day moving average of $81.54 and a two-hundred day moving average of $75.92.

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 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. As a group, research analysts forecast that The Bank of New York Mellon Co. will post 6.89 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Monday, January 27th were paid a $0.47 dividend. The ex-dividend date was Monday, January 27th. This represents a $1.88 annualized dividend and a dividend yield of 2.11%. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 32.36%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on BK shares. Truist Financial upped their target price on shares of Bank of New York Mellon from $91.00 to $93.00 and gave the company a “buy” rating in a report on Thursday, January 16th. UBS Group upped their price target on shares of Bank of New York Mellon from $88.00 to $94.00 and gave the company a “buy” rating in a research report on Tuesday, January 21st. Wells Fargo & Company upped their target price on shares of Bank of New York Mellon from $82.00 to $86.00 and gave the company an “equal weight” rating in a report on Thursday, January 16th. Evercore ISI boosted their price target on Bank of New York Mellon from $79.00 to $83.00 and gave the company an “in-line” rating in a research report on Thursday, January 16th. Finally, StockNews.com downgraded Bank of New York Mellon from a “buy” rating to a “hold” rating in a report on Wednesday. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.