Manchester Capital Management LLC Has $805,000 Stock Position in The Bank of New York Mellon Co. (NYSE:BK)

Manchester Capital Management LLC lifted its stake in The Bank of New York Mellon Co. (NYSE:BK) by 34.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,476 shares of the bank’s stock after acquiring an additional 2,703 shares during the period. Manchester Capital Management LLC’s holdings in Bank of New York Mellon were worth $805,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of BK. PUREfi Wealth LLC acquired a new stake in shares of Bank of New York Mellon in the fourth quarter valued at $247,000. ABC Arbitrage SA acquired a new stake in shares of Bank of New York Mellon in the fourth quarter valued at $2,418,000. Valeo Financial Advisors LLC increased its stake in shares of Bank of New York Mellon by 1.6% in the fourth quarter. Valeo Financial Advisors LLC now owns 9,041 shares of the bank’s stock valued at $695,000 after buying an additional 139 shares in the last quarter. Blue Trust Inc. increased its stake in shares of Bank of New York Mellon by 12.3% in the fourth quarter. Blue Trust Inc. now owns 1,879 shares of the bank’s stock valued at $144,000 after buying an additional 206 shares in the last quarter. Finally, MTM Investment Management LLC acquired a new stake in shares of Bank of New York Mellon in the fourth quarter valued at $772,000. Institutional investors and hedge funds own 85.31% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on BK shares. Wells Fargo & Company lifted their price objective on Bank of New York Mellon from $82.00 to $86.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 16th. Barclays lifted their price objective 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. 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 research report on Thursday, January 16th. StockNews.com lowered Bank of New York Mellon from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Bank of New York Mellon from $94.00 to $98.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $88.00.

Bank of New York Mellon Stock Performance

Shares of NYSE BK opened at $87.94 on Friday. 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 stock’s fifty day moving average price is $81.08 and its two-hundred day moving average price is $75.26. The Bank of New York Mellon Co. has a one year low of $52.64 and a one year high of $88.25. The firm has a market cap of $63.94 billion, a price-to-earnings ratio of 15.14, a P/E/G ratio of 0.98 and a beta of 1.08.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings data on Wednesday, January 15th. The bank reported $1.72 EPS for the quarter, beating 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 in the prior year, the firm posted $1.28 EPS. The company’s revenue for the quarter was up 11.2% on a year-over-year basis. On average, equities analysts forecast that The Bank of New York Mellon Co. will post 6.89 EPS for the current year.

Bank of New York Mellon Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Monday, January 27th were given a dividend of $0.47 per share. The ex-dividend date of this dividend was Monday, January 27th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.14%. Bank of New York Mellon’s payout ratio is 32.36%.

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.