Steward Partners Investment Advisory LLC Buys 1,622 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Steward Partners Investment Advisory LLC boosted its position in The Bank of New York Mellon Co. (NYSE:BK) by 1.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 92,225 shares of the bank’s stock after purchasing an additional 1,622 shares during the period. Steward Partners Investment Advisory LLC’s holdings in Bank of New York Mellon were worth $7,086,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of BK. Centricity Wealth Management LLC bought a new stake in Bank of New York Mellon during the 4th quarter valued at $39,000. Modus Advisors LLC bought a new stake in shares of Bank of New York Mellon during the 4th quarter valued at $49,000. Ashton Thomas Securities LLC bought a new position in Bank of New York Mellon in the 3rd quarter worth about $46,000. Friedenthal Financial purchased a new position in Bank of New York Mellon during the 4th quarter valued at about $56,000. Finally, Asset Dedication LLC increased its position in shares of Bank of New York Mellon by 342.1% during the fourth quarter. Asset Dedication LLC now owns 756 shares of the bank’s stock valued at $58,000 after buying an additional 585 shares during the period. 85.31% of the stock is owned by institutional investors.

Bank of New York Mellon Price Performance

Shares of NYSE BK opened at $86.61 on Thursday. The Bank of New York Mellon Co. has a 1 year low of $52.64 and a 1 year high of $90.34. The stock has a market capitalization of $62.04 billion, a P/E ratio of 14.91, a P/E/G ratio of 0.97 and a beta of 1.06. The company’s 50-day moving average is $83.56 and its 200 day moving average is $77.67. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.69 and a quick ratio of 0.70.

Bank of New York Mellon (NYSE:BK) last posted its earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share 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 the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.28 EPS. On average, sell-side analysts expect 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 firm also recently announced a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Monday, January 27th were issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date was Monday, January 27th. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 32.36%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Truist Financial boosted their price objective on shares of Bank of New York Mellon from $91.00 to $93.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Bank of New York Mellon from $94.00 to $98.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. UBS Group increased their price target on shares of Bank of New York Mellon from $88.00 to $94.00 and gave the stock a “buy” rating in a report on Tuesday, January 21st. Bank of America lifted their price objective on shares of 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 increased their target price on Bank of New York Mellon from $87.00 to $96.00 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. 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, the company has an average rating of “Moderate Buy” and a consensus price target of $88.71.

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.