The Bank of New York Mellon Co. (NYSE:BK) Shares Purchased by FSB Premier Wealth Management Inc.

FSB Premier Wealth Management Inc. raised its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 15.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 12,577 shares of the bank’s stock after acquiring an additional 1,729 shares during the period. FSB Premier Wealth Management Inc.’s holdings in Bank of New York Mellon were worth $966,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. D.A. Davidson & CO. raised its holdings in Bank of New York Mellon by 3.3% during the third quarter. D.A. Davidson & CO. now owns 7,299 shares of the bank’s stock worth $525,000 after purchasing an additional 231 shares in the last quarter. Townsquare Capital LLC raised its stake in shares of Bank of New York Mellon by 24.6% during the 3rd quarter. Townsquare Capital LLC now owns 22,001 shares of the bank’s stock worth $1,581,000 after buying an additional 4,342 shares in the last quarter. CreativeOne Wealth LLC lifted its holdings in shares of Bank of New York Mellon by 3.8% in the 3rd quarter. CreativeOne Wealth LLC now owns 8,971 shares of the bank’s stock valued at $645,000 after buying an additional 332 shares during the period. Financial Counselors Inc. purchased a new stake in shares of Bank of New York Mellon in the third quarter valued at approximately $293,000. Finally, Rockefeller Capital Management L.P. grew its holdings in Bank of New York Mellon by 0.9% during the third quarter. Rockefeller Capital Management L.P. now owns 29,519 shares of the bank’s stock worth $2,118,000 after acquiring an additional 250 shares during the period. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Bank of New York Mellon Stock Down 2.1 %

Shares of NYSE BK opened at $82.67 on Monday. The stock has a market capitalization of $59.35 billion, a PE ratio of 14.23, a P/E/G ratio of 0.97 and a beta of 1.06. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.83. The firm has a fifty day moving average of $85.34 and a 200-day moving average of $79.69. The Bank of New York Mellon Co. has a 52-week low of $52.64 and a 52-week high of $90.34.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings results on Wednesday, January 15th. The bank reported $1.72 EPS for the quarter, topping the consensus estimate of $1.54 by $0.18. The company had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.66 billion. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. The firm’s revenue was up 11.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.28 earnings per share. On average, analysts anticipate that The Bank of New York Mellon Co. will post 6.96 EPS for the current year.

Bank of New York Mellon Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 7th. Shareholders 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 yield of 2.27%. Bank of New York Mellon’s dividend payout ratio (DPR) is 32.36%.

Analysts Set New Price Targets

BK has been the subject of a number of recent analyst reports. Wells Fargo & Company raised their target price on Bank of New York Mellon from $86.00 to $96.00 and gave the company an “equal weight” rating in a report on Monday, March 3rd. Barclays raised their price objective on shares of Bank of New York Mellon from $102.00 to $104.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Royal Bank of Canada restated a “sector perform” rating and set a $90.00 target price on shares of Bank of New York Mellon in a research report on Monday, March 17th. Truist Financial lifted their price target on shares of 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. Finally, Wolfe Research cut Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.71.

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.