Ieq Capital LLC raised its holdings in The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 12.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 33,429 shares of the bank's stock after purchasing an additional 3,696 shares during the quarter. Ieq Capital LLC's holdings in Bank of New York Mellon were worth $2,568,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in BK. Studio Investment Management LLC boosted its stake in shares of Bank of New York Mellon by 2.1% in the third quarter. Studio Investment Management LLC now owns 6,636 shares of the bank's stock valued at $477,000 after buying an additional 134 shares in the last quarter. Grove Bank & Trust grew its stake in shares of Bank of New York Mellon by 21.0% during the 4th quarter. Grove Bank & Trust now owns 779 shares of the bank's stock worth $60,000 after purchasing an additional 135 shares during the period. Avidian Wealth Enterprises LLC increased its holdings in shares of Bank of New York Mellon by 2.0% in the 3rd quarter. Avidian Wealth Enterprises LLC now owns 7,024 shares of the bank's stock valued at $505,000 after purchasing an additional 137 shares in the last quarter. Valeo Financial Advisors LLC increased its holdings in shares of Bank of New York Mellon by 1.6% in the 4th quarter. Valeo Financial Advisors LLC now owns 9,041 shares of the bank's stock valued at $695,000 after purchasing an additional 139 shares in the last quarter. Finally, Frank Rimerman Advisors LLC lifted its stake in shares of Bank of New York Mellon by 1.1% in the third quarter. Frank Rimerman Advisors LLC now owns 12,908 shares of the bank's stock valued at $928,000 after purchasing an additional 142 shares during the period. Institutional investors and hedge funds own 85.31% of the company's stock.
Shares of BK opened at $87.29 on Friday. The Bank of New York Mellon Co. has a 1 year low of $52.64 and a 1 year high of $89.44. The company's 50 day simple moving average is $82.04 and its 200 day simple moving average is $76.36. The company has a market capitalization of $63.46 billion, a price-to-earnings ratio of 15.02, a PEG ratio of 0.98 and a beta of 1.08. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.70 and a current ratio of 0.69.
Bank of New York Mellon (NYSE:BK - Get Free Report) last issued its quarterly earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.54 by $0.18. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. The firm had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.66 billion. During the same period last year, the company earned $1.28 EPS. The firm's quarterly revenue was up 11.2% on a year-over-year basis. On average, sell-side analysts predict that The Bank of New York Mellon Co. will post 6.94 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Monday, January 27th were paid 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 2.15%. Bank of New York Mellon's dividend payout ratio is presently 32.36%.
A number of brokerages have issued reports on BK. Barclays increased their target price on shares of Bank of New York Mellon from $102.00 to $104.00 and gave the company an "overweight" rating in a report on Thursday, January 16th. Morgan Stanley raised their price objective on Bank of New York Mellon from $90.00 to $97.00 and gave the company an "overweight" rating in a research note on Thursday, January 16th. Truist Financial lifted their price objective on Bank of New York Mellon from $91.00 to $93.00 and gave the stock a "buy" rating in a report on Thursday, January 16th. Bank of America upped their target price on Bank of New York Mellon from $90.00 to $95.00 and gave the company a "buy" rating in a 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 report on Friday, January 3rd. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $88.00.
Check Out Our Latest Report on BK
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.
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