Ferguson Wellman Capital Management Inc. Acquires 1,061 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Ferguson Wellman Capital Management Inc. raised its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 4.5% during the 4th quarter, HoldingsChannel.com reports. The fund owned 24,656 shares of the bank’s stock after buying an additional 1,061 shares during the period. Ferguson Wellman Capital Management Inc.’s holdings in Bank of New York Mellon were worth $1,894,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the business. McClarren Financial Advisors Inc. grew its position in shares of Bank of New York Mellon by 586.4% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 405 shares of the bank’s stock worth $29,000 after buying an additional 346 shares in the last quarter. Fortitude Family Office LLC grew its position in shares of Bank of New York Mellon by 130.6% during the 3rd quarter. Fortitude Family Office LLC now owns 611 shares of the bank’s stock worth $44,000 after buying an additional 346 shares in the last quarter. Modus Advisors LLC bought a new position in shares of Bank of New York Mellon during the 4th quarter worth $49,000. Ashton Thomas Securities LLC bought a new position in shares of Bank of New York Mellon during the 3rd quarter worth $46,000. Finally, Grove Bank & Trust grew its position in shares of Bank of New York Mellon by 28.8% during the 3rd quarter. Grove Bank & Trust now owns 644 shares of the bank’s stock worth $46,000 after buying an additional 144 shares in the last quarter. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Trading Down 1.4 %

NYSE:BK opened at $84.99 on Tuesday. The business’s 50-day moving average is $80.70 and its two-hundred day moving average is $74.83. 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 firm has a market capitalization of $61.79 billion, a PE ratio of 14.63, a price-to-earnings-growth 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 $87.70.

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 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 for the quarter, compared to analysts’ expectations of $4.66 billion. During the same quarter last year, the company posted $1.28 earnings per share. Bank of New York Mellon’s revenue was up 11.2% on a year-over-year basis. Research analysts predict 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 Dividend Announcement

The company also recently announced 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. The ex-dividend date was Monday, January 27th. This represents a $1.88 annualized dividend and a yield of 2.21%. Bank of New York Mellon’s payout ratio is 32.36%.

Analyst Ratings Changes

A number of brokerages recently weighed in on BK. Truist Financial upped their price objective on 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. UBS Group raised their target price on Bank of New York Mellon from $88.00 to $94.00 and gave the stock a “buy” rating in a report on Tuesday, January 21st. 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 report on Thursday, January 16th. Wells Fargo & Company raised their target price on Bank of New York Mellon from $82.00 to $86.00 and gave the company an “equal weight” rating in a research report on Thursday, January 16th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $79.00 target price on shares of Bank of New York Mellon in a research report on Monday, October 14th. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price 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.