The Bank of New York Mellon Co. (NYSE:BK) Shares Bought by Dorsey & Whitney Trust CO LLC

Dorsey & Whitney Trust CO LLC raised its stake in The Bank of New York Mellon Co. (NYSE:BK) by 6.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,058 shares of the bank’s stock after purchasing an additional 294 shares during the quarter. Dorsey & Whitney Trust CO LLC’s holdings in Bank of New York Mellon were worth $389,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in BK. Assetmark Inc. boosted its holdings in shares of Bank of New York Mellon by 64.7% in the 3rd quarter. Assetmark Inc. now owns 1,869 shares of the bank’s stock valued at $134,000 after purchasing an additional 734 shares during the last quarter. Essex Savings Bank purchased a new position in shares of Bank of New York Mellon in the 3rd quarter valued at $228,000. Mesirow Financial Investment Management Inc. raised its stake in shares of Bank of New York Mellon by 1.9% in the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 10,212 shares of the bank’s stock valued at $734,000 after acquiring an additional 192 shares during the period. Covestor Ltd raised its stake in shares of Bank of New York Mellon by 216.3% in the 3rd quarter. Covestor Ltd now owns 1,297 shares of the bank’s stock valued at $93,000 after acquiring an additional 887 shares during the period. Finally, Sigma Planning Corp raised its stake in shares of Bank of New York Mellon by 2.7% in the 3rd quarter. Sigma Planning Corp now owns 5,470 shares of the bank’s stock valued at $393,000 after acquiring an additional 143 shares during the period. Institutional investors and hedge funds own 85.31% of the company’s stock.

Bank of New York Mellon Price Performance

BK opened at $84.17 on Tuesday. The company has a 50-day moving average of $83.99 and a 200-day moving average of $78.16. The company has a market capitalization of $60.43 billion, a P/E ratio of 14.49, a PEG ratio of 0.97 and a beta of 1.06. The Bank of New York Mellon Co. has a 1-year low of $52.64 and a 1-year high of $90.34. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.70 and a current ratio of 0.69.

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 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 business had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.66 billion. During the same period in the previous year, the business posted $1.28 EPS. The company’s quarterly revenue was up 11.2% on a year-over-year basis. Equities analysts expect that The Bank of New York Mellon Co. will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Monday, January 27th were issued a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 2.23%. 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

A number of equities analysts have recently commented on BK shares. Barclays raised their target price on shares of Bank of New York Mellon from $102.00 to $104.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Keefe, Bruyette & Woods raised their target price on shares of 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. Truist Financial raised their target price 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. Wolfe Research downgraded shares of Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. Finally, Citigroup lifted 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 note on Monday, November 25th. Six research 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 presently has a consensus rating of “Moderate Buy” and an average price target of $88.71.

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.