Leavell Investment Management Inc. Invests $204,000 in The Bank of New York Mellon Co. (NYSE:BK)

Leavell Investment Management Inc. purchased a new position in The Bank of New York Mellon Co. (NYSE:BK) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 2,653 shares of the bank’s stock, valued at approximately $204,000.

A number of other hedge funds have also recently made changes to their positions in the stock. McClarren Financial Advisors Inc. boosted its stake in Bank of New York Mellon by 586.4% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 405 shares of the bank’s stock valued at $29,000 after purchasing an additional 346 shares during the last quarter. Fortitude Family Office LLC boosted its stake 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 last quarter. Ashton Thomas Securities LLC purchased a new stake in Bank of New York Mellon during the 3rd quarter valued at $46,000. Modus Advisors LLC purchased a new stake in Bank of New York Mellon during the 4th quarter valued at $49,000. Finally, Concord Wealth Partners boosted its stake in Bank of New York Mellon by 150.5% during the 3rd quarter. Concord Wealth Partners now owns 754 shares of the bank’s stock valued at $54,000 after purchasing an additional 453 shares during the last quarter. 85.31% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on BK shares. Wells Fargo & Company increased their target price on Bank of New York Mellon from $82.00 to $86.00 and gave the company an “equal weight” rating in a research note on Thursday, January 16th. Deutsche Bank Aktiengesellschaft increased their price target on Bank of New York Mellon from $94.00 to $98.00 and gave the company a “buy” rating in a report on Thursday, January 16th. UBS Group increased their price target on Bank of New York Mellon from $88.00 to $94.00 and gave the company a “buy” rating in a report on Tuesday, January 21st. Wolfe Research cut Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. Finally, Truist Financial increased 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. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, Bank of New York Mellon has an average rating of “Moderate Buy” and a consensus target price of $88.00.

Bank of New York Mellon Price Performance

NYSE:BK opened at $87.94 on Friday. 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 simple moving average is $81.08 and its two-hundred day simple moving average is $75.26. The stock has a market cap of $63.94 billion, a PE ratio of 15.14, a P/E/G 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 $88.25.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings results on Wednesday, January 15th. The bank reported $1.72 EPS for the quarter, beating analysts’ consensus estimates of $1.54 by $0.18. The business 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 quarterly revenue was up 11.2% on a year-over-year basis. During the same period last year, the firm earned $1.28 earnings per share. As a group, 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 declared a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Monday, January 27th were issued 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 2.14%. Bank of New York Mellon’s dividend payout ratio is presently 32.36%.

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.