O Shaughnessy Asset Management LLC Grows Stake in The Bank of New York Mellon Co. (NYSE:BK)

O Shaughnessy Asset Management LLC boosted its stake in The Bank of New York Mellon Co. (NYSE:BK) by 11.7% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 786,496 shares of the bank’s stock after buying an additional 82,671 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in Bank of New York Mellon were worth $60,426,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of BK. Graney & King LLC purchased a new position in shares of Bank of New York Mellon in the fourth quarter valued at approximately $35,000. Centricity Wealth Management LLC acquired a new position in Bank of New York Mellon in the 4th quarter valued at $39,000. TCTC Holdings LLC lifted its holdings in Bank of New York Mellon by 257.5% in the 4th quarter. TCTC Holdings LLC now owns 597 shares of the bank’s stock valued at $46,000 after purchasing an additional 430 shares in the last quarter. Modus Advisors LLC acquired a new stake in Bank of New York Mellon during the 4th quarter worth $49,000. Finally, Friedenthal Financial purchased a new stake in shares of Bank of New York Mellon during the fourth quarter worth $56,000. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on BK shares. UBS Group raised 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 research note 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. Wells Fargo & Company upped their price target on Bank of New York Mellon from $86.00 to $96.00 and gave the company an “equal weight” rating in a research report on Monday, March 3rd. Truist Financial lifted their price objective on Bank of New York Mellon from $91.00 to $93.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Finally, Bank of America upped their target price on Bank of New York Mellon from $90.00 to $95.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $89.71.

Bank of New York Mellon Price Performance

Shares of BK opened at $82.67 on Friday. The firm has a 50-day simple moving average of $85.34 and a two-hundred day simple moving average of $79.61. The stock has a market cap of $59.35 billion, a PE ratio of 14.23, a P/E/G 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 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, 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 firm had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.66 billion. During the same quarter last year, the firm earned $1.28 EPS. The firm’s revenue for the quarter was up 11.2% on a year-over-year basis. As a group, analysts forecast that The Bank of New York Mellon Co. will post 6.96 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Monday, January 27th were paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 2.27%. The ex-dividend date was Monday, January 27th. Bank of New York Mellon’s payout ratio is 32.36%.

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.