CoreFirst Bank & Trust Purchases Shares of 1,320 The Bank of New York Mellon Co. (NYSE:BK)

CoreFirst Bank & Trust purchased a new stake in shares of The Bank of New York Mellon Co. (NYSE:BK) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 1,320 shares of the bank’s stock, valued at approximately $101,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of BK. FMR LLC boosted its holdings in Bank of New York Mellon by 78.6% during the third quarter. FMR LLC now owns 19,338,722 shares of the bank’s stock worth $1,389,680,000 after buying an additional 8,512,404 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Bank of New York Mellon by 2,707.1% during the 3rd quarter. Wellington Management Group LLP now owns 3,258,967 shares of the bank’s stock worth $234,189,000 after acquiring an additional 3,142,869 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Bank of New York Mellon in the 4th quarter worth $90,955,000. Zacks Investment Management acquired a new stake in shares of Bank of New York Mellon during the third quarter worth $62,589,000. Finally, State Street Corp lifted its holdings in shares of Bank of New York Mellon by 2.0% during the third quarter. State Street Corp now owns 33,313,594 shares of the bank’s stock valued at $2,393,915,000 after purchasing an additional 659,096 shares during the last quarter. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Stock Up 0.6 %

BK opened at $85.21 on Wednesday. The company has a market capitalization of $61.18 billion, a PE ratio of 14.67, a price-to-earnings-growth ratio of 0.97 and a beta of 1.06. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.69 and a quick ratio of 0.70. The Bank of New York Mellon Co. has a fifty-two week low of $52.64 and a fifty-two week high of $90.34. The business has a 50-day moving average of $85.24 and a 200-day moving average of $79.35.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings data 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. 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 company’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.28 earnings per share. Equities research analysts forecast 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 disclosed a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Monday, January 27th were issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date was Monday, January 27th. Bank of New York Mellon’s dividend payout ratio is presently 32.36%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on BK. Morgan Stanley lifted their price target on Bank of New York Mellon from $90.00 to $97.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Bank of New York Mellon from $94.00 to $98.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Barclays raised their price objective on shares of Bank of New York Mellon from $102.00 to $104.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Royal Bank of Canada reissued a “sector perform” rating and set a $90.00 target price on shares of Bank of New York Mellon in a research note on Monday, March 17th. Finally, Truist Financial raised their target price 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. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $89.71.

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.