Bleakley Financial Group LLC Increases Stock Position in The Bank of New York Mellon Co. (NYSE:BK)

Bleakley Financial Group LLC grew its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 5.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,244 shares of the bank’s stock after purchasing an additional 580 shares during the period. Bleakley Financial Group LLC’s holdings in Bank of New York Mellon were worth $864,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Choreo LLC increased its position in Bank of New York Mellon by 6.8% in the fourth quarter. Choreo LLC now owns 52,913 shares of the bank’s stock worth $4,077,000 after purchasing an additional 3,374 shares during the last quarter. Tectonic Advisors LLC increased its holdings in shares of Bank of New York Mellon by 5.3% in the 4th quarter. Tectonic Advisors LLC now owns 9,162 shares of the bank’s stock worth $704,000 after buying an additional 464 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Bank of New York Mellon by 11.4% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 135,558 shares of the bank’s stock valued at $10,480,000 after buying an additional 13,906 shares in the last quarter. Y.D. More Investments Ltd lifted its holdings in shares of Bank of New York Mellon by 113.9% in the 4th quarter. Y.D. More Investments Ltd now owns 905 shares of the bank’s stock valued at $70,000 after acquiring an additional 482 shares during the last quarter. Finally, Stratos Investment Management LLC grew its position in Bank of New York Mellon by 2.9% in the fourth quarter. Stratos Investment Management LLC now owns 5,109 shares of the bank’s stock worth $393,000 after acquiring an additional 142 shares in the last quarter. 85.31% of the stock is owned by institutional investors.

Bank of New York Mellon Price Performance

BK opened at $86.15 on Monday. The company has a market capitalization of $62.64 billion, a price-to-earnings ratio of 14.83, a PEG ratio of 0.98 and a beta of 1.08. The company has a current ratio of 0.69, a quick ratio of 0.70 and a debt-to-equity ratio of 0.83. The Bank of New York Mellon Co. has a 12-month low of $52.64 and a 12-month high of $87.70. The business’s fifty day simple moving average is $80.70 and its 200-day simple moving average is $74.75.

Bank of New York Mellon (NYSE:BK) last issued its earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share (EPS) for the quarter, topping 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 company had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.66 billion. During the same period in the prior year, the business earned $1.28 EPS. The firm’s quarterly revenue was up 11.2% on a year-over-year basis. On average, equities research analysts anticipate that The Bank of New York Mellon Co. will post 6.89 earnings per share for the current fiscal year.

Bank of New York Mellon Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Monday, January 27th were issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 2.18%. The ex-dividend date of this dividend was Monday, January 27th. Bank of New York Mellon’s payout ratio is 32.36%.

Analysts Set New Price Targets

BK has been the topic of a number of recent research reports. Truist Financial upped their price objective on Bank of New York Mellon from $91.00 to $93.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Barclays raised their price target on 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. Keefe, Bruyette & Woods boosted their price objective on shares of Bank of New York Mellon from $87.00 to $96.00 and gave the company an “outperform” rating in a research report on Tuesday, December 3rd. Wells Fargo & Company raised their target price on shares of Bank of New York Mellon from $82.00 to $86.00 and gave the stock an “equal weight” rating in a report on Thursday, January 16th. Finally, Evercore ISI upped their price target on shares of Bank of New York Mellon from $79.00 to $83.00 and gave the company an “in-line” rating in a report on Thursday, January 16th. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, Bank of New York Mellon presently has an average rating of “Moderate Buy” and a consensus price target of $88.00.

Bank of New York Mellon Company 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.