Segall Bryant & Hamill LLC Grows Stock Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Segall Bryant & Hamill LLC boosted its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 642.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 197,338 shares of the bank’s stock after buying an additional 170,772 shares during the quarter. Segall Bryant & Hamill LLC’s holdings in Bank of New York Mellon were worth $15,161,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in BK. Centricity Wealth Management LLC acquired a new position in shares of Bank of New York Mellon during the 4th quarter worth $39,000. TCTC Holdings LLC grew its stake in Bank of New York Mellon by 257.5% in the 4th quarter. TCTC Holdings LLC now owns 597 shares of the bank’s stock valued at $46,000 after acquiring an additional 430 shares during the last quarter. Modus Advisors LLC purchased a new position in Bank of New York Mellon during the 4th quarter valued at about $49,000. Friedenthal Financial acquired a new position in Bank of New York Mellon during the fourth quarter worth about $56,000. Finally, Asset Dedication LLC lifted its holdings in shares of Bank of New York Mellon by 342.1% in the fourth quarter. Asset Dedication LLC now owns 756 shares of the bank’s stock valued at $58,000 after purchasing an additional 585 shares in the last quarter. 85.31% of the stock is owned by hedge funds and other institutional investors.

Bank of New York Mellon Price Performance

Bank of New York Mellon stock opened at $85.21 on Wednesday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.70 and a current ratio of 0.69. The company has a market cap of $61.18 billion, a price-to-earnings ratio of 14.67, a PEG ratio of 0.97 and a beta of 1.06. The Bank of New York Mellon Co. has a 1 year low of $52.64 and a 1 year high of $90.34. The firm has a 50 day moving average price of $85.24 and a 200 day moving average price of $79.35.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings data on Wednesday, January 15th. The bank reported $1.72 EPS 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 business had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.66 billion. During the same period in the prior year, the firm posted $1.28 EPS. The business’s revenue for the quarter was up 11.2% on a year-over-year basis. Sell-side analysts predict that The Bank of New York Mellon Co. will post 6.96 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Monday, January 27th were issued a $0.47 dividend. The ex-dividend date was Monday, January 27th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.21%. Bank of New York Mellon’s dividend payout ratio (DPR) is 32.36%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. Keefe, Bruyette & Woods raised their price objective on shares of Bank of New York Mellon from $87.00 to $96.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 3rd. Truist Financial raised their price target 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. Citigroup upped their price objective on Bank of New York Mellon from $82.00 to $85.00 and gave the company a “neutral” rating in a research report on Monday. Deutsche Bank Aktiengesellschaft increased their price objective on 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. Finally, Bank of America boosted their target price on shares of Bank of New York Mellon from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $89.71.

About Bank of New York Mellon

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.