Allworth Financial LP Has $2.25 Million Stake in The Bank of New York Mellon Co. (NYSE:BK)

Allworth Financial LP raised its position in The Bank of New York Mellon Co. (NYSE:BK) by 215.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 26,702 shares of the bank’s stock after acquiring an additional 18,246 shares during the quarter. Allworth Financial LP’s holdings in Bank of New York Mellon were worth $2,252,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of BK. Fortitude Family Office LLC boosted its position in Bank of New York Mellon by 130.6% during 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 period. Ashton Thomas Securities LLC acquired a new stake in shares of Bank of New York Mellon during the 3rd quarter worth about $46,000. Modus Advisors LLC bought a new stake in shares of Bank of New York Mellon during the 4th quarter worth about $49,000. Concord Wealth Partners grew its stake in Bank of New York Mellon by 150.5% in the 3rd quarter. Concord Wealth Partners now owns 754 shares of the bank’s stock valued at $54,000 after buying an additional 453 shares during the last quarter. Finally, Friedenthal Financial bought a new position in Bank of New York Mellon in the 4th quarter valued at about $56,000. Institutional investors own 85.31% of the company’s stock.

Analyst Upgrades and Downgrades

BK has been the topic of several research reports. Truist Financial upped their target price on Bank of New York Mellon from $91.00 to $93.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Wells Fargo & Company increased their price objective on Bank of New York Mellon from $82.00 to $86.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 16th. Citigroup boosted their target price on shares of Bank of New York Mellon from $75.00 to $82.00 and gave the company a “neutral” rating in a research report on Monday, November 25th. StockNews.com lowered shares of Bank of New York Mellon from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, Morgan Stanley boosted their price objective on shares of Bank of New York Mellon from $90.00 to $97.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $88.00.

Bank of New York Mellon Trading Up 1.2 %

Shares of Bank of New York Mellon stock opened at $88.94 on Wednesday. The firm’s 50 day moving average is $81.37 and its 200 day moving average is $75.73. The firm has a market capitalization of $64.66 billion, a PE ratio of 15.31, a price-to-earnings-growth ratio of 0.98 and a beta of 1.08. The Bank of New York Mellon Co. has a 1 year low of $52.64 and a 1 year high of $89.44. The company has a current ratio of 0.69, a quick ratio of 0.70 and a debt-to-equity ratio of 0.83.

Bank of New York Mellon (NYSE:BK) last announced 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 net margin of 11.35% and a return on equity of 12.68%. The company had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.66 billion. During the same period in the prior year, the business earned $1.28 earnings per share. The company’s revenue for the quarter was up 11.2% compared to the same quarter last year. Equities research analysts forecast that The Bank of New York Mellon Co. will post 6.89 earnings per share for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The company also recently declared 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 annualized dividend and a dividend yield of 2.11%. The ex-dividend date was Monday, January 27th. Bank of New York Mellon’s dividend payout ratio (DPR) is currently 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.