KCM Investment Advisors LLC Takes Position in The Bank of New York Mellon Co. (NYSE:BK)

KCM Investment Advisors LLC bought a new position in The Bank of New York Mellon Co. (NYSE:BK) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 2,892 shares of the bank’s stock, valued at approximately $222,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Graney & King LLC bought a new position in shares of Bank of New York Mellon in the fourth quarter valued at $35,000. Centricity Wealth Management LLC acquired a new position in shares of Bank of New York Mellon in the 4th quarter worth $39,000. TCTC Holdings LLC raised its position in shares of Bank of New York Mellon by 257.5% during the fourth quarter. TCTC Holdings LLC now owns 597 shares of the bank’s stock worth $46,000 after purchasing an additional 430 shares during the period. Modus Advisors LLC purchased a new stake in shares of Bank of New York Mellon during the fourth quarter valued at $49,000. Finally, Friedenthal Financial acquired a new position in shares of Bank of New York Mellon in the 4th quarter valued at $56,000. 85.31% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

BK has been the topic of several recent analyst reports. Evercore ISI boosted their price objective on Bank of New York Mellon from $83.00 to $87.00 and gave the stock an “in-line” rating in a report on Tuesday, April 1st. Barclays boosted their price target on shares of Bank of New York Mellon from $102.00 to $104.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Truist Financial decreased their price objective on shares of Bank of New York Mellon from $93.00 to $90.00 and set a “buy” rating for the company in a research note on Friday. Royal Bank of Canada reissued a “sector perform” rating and set a $90.00 target price on shares of Bank of New York Mellon in a research note on Monday, March 17th. Finally, Deutsche Bank Aktiengesellschaft raised 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 research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $89.86.

Bank of New York Mellon Stock Performance

Shares of BK opened at $73.17 on Monday. The Bank of New York Mellon Co. has a 12 month low of $52.64 and a 12 month high of $90.34. The company’s fifty day moving average is $84.98 and its 200-day moving average is $80.08. 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 market cap of $52.53 billion, a price-to-earnings ratio of 12.59, a price-to-earnings-growth ratio of 0.97 and a beta of 1.03.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.66 billion. During the same quarter in the prior year, the company posted $1.28 EPS. The firm’s revenue was up 11.2% on a year-over-year basis. Equities analysts expect that The Bank of New York Mellon Co. will post 6.96 EPS for the current fiscal 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 paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date was Monday, January 27th. Bank of New York Mellon’s payout ratio is 32.36%.

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.