Wesbanco Bank Inc. Has $645,000 Stock Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Wesbanco Bank Inc. raised its stake in The Bank of New York Mellon Co. (NYSE:BK) by 3.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,398 shares of the bank’s stock after purchasing an additional 297 shares during the quarter. Wesbanco Bank Inc.’s holdings in Bank of New York Mellon were worth $645,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Janney Montgomery Scott LLC raised its position in Bank of New York Mellon by 11.5% during the fourth quarter. Janney Montgomery Scott LLC now owns 142,423 shares of the bank’s stock worth $10,942,000 after acquiring an additional 14,675 shares in the last quarter. Advisory Alpha LLC increased its stake in shares of Bank of New York Mellon by 34.0% during the 4th quarter. Advisory Alpha LLC now owns 3,804 shares of the bank’s stock worth $292,000 after purchasing an additional 966 shares during the last quarter. Dakota Wealth Management raised its holdings in shares of Bank of New York Mellon by 5.5% in the 4th quarter. Dakota Wealth Management now owns 174,637 shares of the bank’s stock valued at $13,417,000 after purchasing an additional 9,170 shares during the period. Nisa Investment Advisors LLC lifted its stake in Bank of New York Mellon by 9.1% in the 4th quarter. Nisa Investment Advisors LLC now owns 144,580 shares of the bank’s stock valued at $11,108,000 after purchasing an additional 12,084 shares during the last quarter. Finally, Simon Quick Advisors LLC grew its holdings in Bank of New York Mellon by 9.5% during the fourth quarter. Simon Quick Advisors LLC now owns 5,389 shares of the bank’s stock worth $414,000 after purchasing an additional 468 shares during the period. Institutional investors and hedge funds own 85.31% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. StockNews.com cut Bank of New York Mellon from a “buy” rating to a “hold” rating in a research report on Thursday, January 16th. The Goldman Sachs Group lifted their price objective on shares of Bank of New York Mellon from $74.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Truist Financial raised their target price on shares of Bank of New York Mellon from $91.00 to $93.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. JPMorgan Chase & Co. upped their price target on shares of Bank of New York Mellon from $69.00 to $77.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Finally, Morgan Stanley raised their price objective on shares of Bank of New York Mellon from $90.00 to $97.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, Bank of New York Mellon presently has a consensus rating of “Moderate Buy” and an average target price of $88.00.

Bank of New York Mellon Stock Performance

BK opened at $84.75 on Friday. The firm has a market cap of $61.62 billion, a P/E ratio of 14.59, a price-to-earnings-growth ratio of 0.97 and a beta of 1.08. The business’s fifty day moving average is $79.23 and its 200-day moving average is $72.82. The Bank of New York Mellon Co. has a 52-week low of $52.64 and a 52-week high of $85.81. 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 released its 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. The firm had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.66 billion. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The business’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same period last year, the firm earned $1.28 EPS. Sell-side analysts expect that The Bank of New York Mellon Co. will post 6.86 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Monday, January 27th will be given a dividend of $0.47 per share. The ex-dividend date of this dividend is Monday, January 27th. This represents a $1.88 annualized dividend and a yield of 2.22%. Bank of New York Mellon’s dividend payout ratio is currently 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.