Fort Washington Investment Advisors Inc. OH Has $730,000 Stake in The Bank of New York Mellon Co. (NYSE:BK)

Fort Washington Investment Advisors Inc. OH reduced its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 8.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,502 shares of the bank’s stock after selling 826 shares during the period. Fort Washington Investment Advisors Inc. OH’s holdings in Bank of New York Mellon were worth $730,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BK. Atomi Financial Group Inc. raised its position in shares of Bank of New York Mellon by 10.3% in the 4th quarter. Atomi Financial Group Inc. now owns 9,362 shares of the bank’s stock valued at $719,000 after acquiring an additional 873 shares during the period. Transform Wealth LLC acquired a new stake in Bank of New York Mellon in the fourth quarter worth $9,683,000. Harbor Investment Advisory LLC boosted its position in shares of Bank of New York Mellon by 1,956.0% during the fourth quarter. Harbor Investment Advisory LLC now owns 8,409 shares of the bank’s stock worth $646,000 after purchasing an additional 8,000 shares in the last quarter. UMB Bank n.a. grew its holdings in shares of Bank of New York Mellon by 2,123.7% in the 4th quarter. UMB Bank n.a. now owns 97,953 shares of the bank’s stock valued at $7,526,000 after buying an additional 93,548 shares during the period. Finally, M.E. Allison & CO. Inc. acquired a new position in shares of Bank of New York Mellon in the 4th quarter valued at $371,000. 85.31% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

BK has been the subject of a number of research 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 note on Thursday, January 16th. JPMorgan Chase & Co. upped their target price on shares of Bank of New York Mellon from $69.00 to $77.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Truist Financial increased their price objective 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. StockNews.com downgraded shares of Bank of New York Mellon from a “buy” rating to a “hold” rating in a research note on Thursday, January 16th. Finally, Citigroup increased their price objective 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. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, Bank of New York Mellon currently has an average rating of “Moderate Buy” and a consensus price target of $88.00.

Bank of New York Mellon Stock Up 0.5 %

Bank of New York Mellon stock opened at $84.75 on Friday. The stock has a market cap of $61.62 billion, a P/E ratio of 14.59, a P/E/G ratio of 0.97 and a beta of 1.08. 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 Bank of New York Mellon Co. has a twelve month low of $52.64 and a twelve month high of $85.81. The company’s 50-day moving average price is $79.23 and its two-hundred day moving average price is $72.82.

Bank of New York Mellon (NYSE:BK) last released 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 firm had revenue of $4.85 billion for the quarter, compared to analysts’ expectations 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 business’s revenue was up 11.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.28 EPS. As a group, analysts expect that The Bank of New York Mellon Co. will post 6.86 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Monday, January 27th will be issued a $0.47 dividend. The ex-dividend date of this dividend is Monday, January 27th. This represents a $1.88 annualized dividend and a yield of 2.22%. Bank of New York Mellon’s dividend 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.