The Bank of New York Mellon Co. (NYSE:BK) Position Raised by Mather Group LLC.

Mather Group LLC. raised its stake in The Bank of New York Mellon Co. (NYSE:BK) by 2.9% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 8,856 shares of the bank’s stock after buying an additional 246 shares during the quarter. Mather Group LLC.’s holdings in Bank of New York Mellon were worth $680,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in BK. McClarren Financial Advisors Inc. raised its stake in shares of Bank of New York Mellon by 586.4% during the third quarter. McClarren Financial Advisors Inc. now owns 405 shares of the bank’s stock valued at $29,000 after purchasing an additional 346 shares in the last quarter. Fortitude Family Office LLC raised its stake in shares of Bank of New York Mellon by 130.6% during the third quarter. Fortitude Family Office LLC now owns 611 shares of the bank’s stock valued at $44,000 after purchasing an additional 346 shares in the last quarter. Grove Bank & Trust raised its stake in shares of Bank of New York Mellon by 28.8% during the third quarter. Grove Bank & Trust now owns 644 shares of the bank’s stock valued at $46,000 after purchasing an additional 144 shares in the last quarter. Ashton Thomas Securities LLC bought a new stake in shares of Bank of New York Mellon during the third quarter valued at about $46,000. Finally, Modus Advisors LLC bought a new stake in shares of Bank of New York Mellon during the fourth quarter valued at about $49,000. 85.31% of the stock is currently owned by institutional investors.

Bank of New York Mellon Trading Up 1.1 %

Shares of BK opened at $85.79 on Thursday. The business’s 50-day moving average price is $80.44 and its 200 day moving average price is $74.35. The stock has a market capitalization of $62.38 billion, a P/E ratio of 14.77, a P/E/G ratio of 0.98 and a beta of 1.08. The Bank of New York Mellon Co. has a 1-year low of $52.64 and a 1-year high of $87.70. The company has a current ratio of 0.69, a quick ratio of 0.70 and a debt-to-equity ratio of 0.83.

Bank of New York Mellon (NYSE:BK) last issued 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 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 analysts’ expectations of $4.66 billion. During the same quarter last year, the business posted $1.28 EPS. Bank of New York Mellon’s revenue was up 11.2% on a year-over-year basis. Analysts expect that The Bank of New York Mellon Co. will post 6.86 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Monday, January 27th will be paid a dividend of $0.47 per share. The ex-dividend date of this dividend is Monday, January 27th. This represents a $1.88 annualized dividend and a yield of 2.19%. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 32.36%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on BK shares. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Bank of New York Mellon from $94.00 to $98.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Bank of America boosted their price target on shares of Bank of New York Mellon from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Morgan Stanley boosted their price target on shares of Bank of New York Mellon from $90.00 to $97.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Truist Financial boosted their price target 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. Finally, Evercore ISI boosted their price target 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. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average 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.