Werba Rubin Papier Wealth Management Makes New Investment in The Bank of New York Mellon Co. (NYSE:BK)

Werba Rubin Papier Wealth Management bought a new position in The Bank of New York Mellon Co. (NYSE:BK) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 2,982 shares of the bank’s stock, valued at approximately $229,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fortitude Family Office LLC increased its position in Bank of New York Mellon by 130.6% in the third quarter. Fortitude Family Office LLC now owns 611 shares of the bank’s stock worth $44,000 after purchasing an additional 346 shares during the last quarter. Ashton Thomas Securities LLC purchased a new position in shares of Bank of New York Mellon in the 3rd quarter worth approximately $46,000. Modus Advisors LLC purchased a new stake in Bank of New York Mellon during the 4th quarter valued at $49,000. Concord Wealth Partners increased its position in Bank of New York Mellon by 150.5% during the third quarter. Concord Wealth Partners now owns 754 shares of the bank’s stock valued at $54,000 after acquiring an additional 453 shares during the last quarter. Finally, Friedenthal Financial bought a new stake in shares of Bank of New York Mellon in the 4th quarter worth about $56,000. 85.31% of the stock is owned by institutional investors.

Bank of New York Mellon Trading Up 1.2 %

BK stock opened at $88.94 on Wednesday. The firm has a market cap of $64.66 billion, a P/E ratio of 15.31, a PEG ratio of 0.98 and a beta of 1.08. The Bank of New York Mellon Co. has a 52-week low of $52.64 and a 52-week high of $89.44. 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 company’s 50-day simple moving average is $81.54 and its 200-day simple moving average is $75.92.

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, beating 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 net margin of 11.35% and a return on equity of 12.68%. The firm’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.28 EPS. As a group, equities analysts forecast that The Bank of New York Mellon Co. will post 6.89 EPS 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. Shareholders 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 yield of 2.11%. Bank of New York Mellon’s payout ratio is 32.36%.

Analyst Upgrades and Downgrades

BK has been the subject of a number of research analyst reports. 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 note on Thursday, January 16th. Deutsche Bank Aktiengesellschaft raised their target price on shares of 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. 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. Citigroup upped their price target on shares of Bank of New York Mellon from $75.00 to $82.00 and gave the stock a “neutral” rating in a research report on Monday, November 25th. Finally, Evercore ISI upped their price objective on Bank of New York Mellon from $79.00 to $83.00 and gave the stock an “in-line” rating in a research note on Thursday, January 16th. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, Bank of New York Mellon presently has a consensus rating of “Moderate Buy” and an average price target of $88.00.

Bank of New York Mellon 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.