Los Angeles Capital Management LLC Buys 235,190 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Los Angeles Capital Management LLC increased its stake in The Bank of New York Mellon Co. (NYSE:BK) by 1,375.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 252,292 shares of the bank’s stock after acquiring an additional 235,190 shares during the period. Los Angeles Capital Management LLC’s holdings in Bank of New York Mellon were worth $19,384,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Centricity Wealth Management LLC bought a new stake in shares of Bank of New York Mellon in the 4th quarter valued at about $39,000. Fortitude Family Office LLC increased its holdings in 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 valued at $44,000 after purchasing an additional 346 shares during the period. Modus Advisors LLC purchased a new position in Bank of New York Mellon during the 4th quarter valued at about $49,000. Ashton Thomas Securities LLC purchased a new position in Bank of New York Mellon during the 3rd quarter valued at about $46,000. Finally, Friedenthal Financial purchased a new position in Bank of New York Mellon during the 4th quarter valued at about $56,000. Institutional investors own 85.31% of the company’s stock.

Analysts Set New Price Targets

BK has been the topic of a number of research analyst reports. Barclays boosted their price target on 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. Wolfe Research downgraded Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. Truist Financial boosted their price target on Bank of New York Mellon from $91.00 to $93.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Bank of America upped their target price on Bank of New York Mellon from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Finally, Keefe, Bruyette & Woods upped their target price on Bank of New York Mellon from $87.00 to $96.00 and gave the stock an “outperform” rating in a report on Tuesday, December 3rd. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, Bank of New York Mellon has a consensus rating of “Moderate Buy” and a consensus price target of $88.00.

Bank of New York Mellon Stock Performance

Shares of BK opened at $86.70 on Wednesday. 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 business’s 50 day moving average price is $82.38 and its 200-day moving average price is $76.80. The Bank of New York Mellon Co. has a 52 week low of $52.64 and a 52 week high of $89.44. The stock has a market cap of $63.04 billion, a P/E ratio of 14.92, a P/E/G ratio of 0.97 and a beta of 1.08.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings results on Wednesday, January 15th. The bank reported $1.72 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.18. The firm had revenue of $4.85 billion for the quarter, compared to analysts’ expectations 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 business’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.28 EPS. Equities research analysts anticipate that The Bank of New York Mellon Co. will post 6.96 earnings per share for the current fiscal year.

Bank of New York Mellon Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Monday, January 27th were given a $0.47 dividend. The ex-dividend date of this dividend was Monday, January 27th. This represents a $1.88 annualized dividend and a yield of 2.17%. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 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.