Versor Investments LP Makes New Investment in The Bank of New York Mellon Co. (NYSE:BK)

Versor Investments LP bought a new position in shares of The Bank of New York Mellon Co. (NYSE:BK) during the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 15,295 shares of the bank’s stock, valued at approximately $1,175,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Proficio Capital Partners LLC purchased a new position in shares of Bank of New York Mellon during the 4th quarter worth $11,575,000. Oppenheimer & Co. Inc. raised its holdings in Bank of New York Mellon by 0.4% in the 4th quarter. Oppenheimer & Co. Inc. now owns 34,536 shares of the bank’s stock valued at $2,653,000 after buying an additional 133 shares during the period. Kovack Advisors Inc. raised its holdings in Bank of New York Mellon by 7.5% in the 4th quarter. Kovack Advisors Inc. now owns 5,270 shares of the bank’s stock valued at $405,000 after buying an additional 366 shares during the period. Mn Services Vermogensbeheer B.V. raised its holdings in Bank of New York Mellon by 2.0% in the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 298,516 shares of the bank’s stock valued at $22,935,000 after buying an additional 5,800 shares during the period. Finally, SRN Advisors LLC raised its holdings in Bank of New York Mellon by 170.6% in the 4th quarter. SRN Advisors LLC now owns 15,070 shares of the bank’s stock valued at $1,158,000 after buying an additional 9,500 shares during the period. Institutional investors and hedge funds own 85.31% of the company’s stock.

Bank of New York Mellon Stock Performance

Shares of BK opened at $86.97 on Friday. The stock has a 50 day moving average price of $82.80 and a 200 day moving average price of $76.93. 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 company has a market capitalization of $63.23 billion, a price-to-earnings ratio of 14.97, a price-to-earnings-growth ratio of 0.97 and a beta of 1.08. The Bank of New York Mellon Co. has a 52-week low of $52.64 and a 52-week high of $89.44.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.54 by $0.18. The firm had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.66 billion. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. The firm’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same period in the prior year, the company posted $1.28 earnings per share. Research analysts predict 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. 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 2.16%. The ex-dividend date was Monday, January 27th. Bank of New York Mellon’s dividend payout ratio (DPR) is 32.36%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Keefe, Bruyette & Woods boosted their price objective on shares of Bank of New York Mellon from $87.00 to $96.00 and gave the company an “outperform” rating in a report on Tuesday, December 3rd. Truist Financial boosted their price target 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. Wells Fargo & Company boosted their price target on shares of Bank of New York Mellon from $82.00 to $86.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 16th. Bank of America boosted their price target on shares of Bank of New York Mellon from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Finally, Wolfe Research lowered shares of Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, Bank of New York Mellon has a consensus rating of “Moderate Buy” and a consensus target price of $88.00.

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.