The Bank of New York Mellon Co. (NYSE:BK) Shares Purchased by Corient Private Wealth LLC

Corient Private Wealth LLC increased its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 18.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 335,507 shares of the bank’s stock after purchasing an additional 51,913 shares during the quarter. Corient Private Wealth LLC’s holdings in Bank of New York Mellon were worth $24,896,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of BK. Empowered Funds LLC lifted its holdings in shares of Bank of New York Mellon by 9.2% during the third quarter. Empowered Funds LLC now owns 13,760 shares of the bank’s stock worth $989,000 after purchasing an additional 1,162 shares during the period. Claro Advisors LLC purchased a new position in Bank of New York Mellon in the third quarter worth $299,000. Drive Wealth Management LLC purchased a new position in Bank of New York Mellon in the third quarter worth $244,000. Caprock Group LLC purchased a new position in Bank of New York Mellon in the third quarter worth $2,963,000. Finally, Meeder Asset Management Inc. raised its position in Bank of New York Mellon by 27.0% in the third quarter. Meeder Asset Management Inc. now owns 285,307 shares of the bank’s stock worth $20,502,000 after acquiring an additional 60,579 shares in the last quarter. 85.31% of the stock is owned by institutional investors and hedge funds.

Bank of New York Mellon Stock Up 0.2 %

BK opened at $82.62 on Wednesday. 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 firm has a market cap of $59.32 billion, a P/E ratio of 14.22, a PEG ratio of 0.97 and a beta of 1.06. The Bank of New York Mellon Co. has a 52 week low of $52.64 and a 52 week high of $90.34. The business’s fifty day simple moving average is $84.48 and its 200 day simple moving average is $78.76.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.54 by $0.18. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. The firm had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.66 billion. During the same period last year, the company earned $1.28 EPS. The firm’s quarterly revenue was up 11.2% on a year-over-year basis. As a group, equities research analysts anticipate that The Bank of New York Mellon Co. will post 6.96 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 paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date of this dividend was Monday, January 27th. Bank of New York Mellon’s payout ratio is 32.36%.

Analysts Set New Price Targets

Several research firms have issued reports on BK. Wolfe Research cut Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. Barclays increased their price objective on Bank of New York Mellon from $102.00 to $104.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $90.00 price objective on shares of Bank of New York Mellon in a research report on Monday. StockNews.com cut Bank of New York Mellon from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Finally, Truist Financial raised their price target 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. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $89.50.

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.