The Bank of New York Mellon Co. (NYSE:BK) Shares Acquired by Smartleaf Asset Management LLC

Smartleaf Asset Management LLC lifted its stake in The Bank of New York Mellon Co. (NYSE:BK) by 30.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,368 shares of the bank’s stock after purchasing an additional 1,257 shares during the period. Smartleaf Asset Management LLC’s holdings in Bank of New York Mellon were worth $414,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in BK. Maia Wealth LLC grew its holdings in Bank of New York Mellon by 30.9% in the fourth quarter. Maia Wealth LLC now owns 3,463 shares of the bank’s stock valued at $266,000 after purchasing an additional 817 shares during the last quarter. Cape Investment Advisory Inc. boosted its position in shares of Bank of New York Mellon by 12.6% in the 4th quarter. Cape Investment Advisory Inc. now owns 1,172 shares of the bank’s stock worth $90,000 after buying an additional 131 shares in the last quarter. Hickory Point Bank & Trust acquired a new stake in Bank of New York Mellon in the 4th quarter valued at about $308,000. Levin Capital Strategies L.P. increased its holdings in Bank of New York Mellon by 1.6% during the 4th quarter. Levin Capital Strategies L.P. now owns 441,071 shares of the bank’s stock valued at $33,887,000 after acquiring an additional 7,048 shares in the last quarter. Finally, US Bancorp DE raised its position in Bank of New York Mellon by 7.1% during the fourth quarter. US Bancorp DE now owns 216,850 shares of the bank’s stock worth $16,661,000 after acquiring an additional 14,305 shares during the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on BK shares. Barclays increased their price target on shares of Bank of New York Mellon from $102.00 to $104.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Bank of America increased 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. Truist Financial boosted their price target on Bank of New York Mellon from $91.00 to $93.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Wolfe Research lowered Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. Finally, Citigroup boosted their target price on shares of Bank of New York Mellon from $75.00 to $82.00 and gave the company a “neutral” rating in a research note on Monday, November 25th. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $88.71.

Bank of New York Mellon Price Performance

Bank of New York Mellon stock opened at $85.56 on Wednesday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.70 and a current ratio of 0.69. The company has a market cap of $61.29 billion, a price-to-earnings ratio of 14.73, a PEG 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 firm has a 50 day moving average price of $83.39 and a 200 day moving average price of $77.60.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings data on Wednesday, January 15th. The bank reported $1.72 earnings per share (EPS) 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 company had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.66 billion. During the same period in the previous year, the company earned $1.28 EPS. The business’s quarterly revenue was up 11.2% compared to the same quarter last year. Sell-side analysts predict that The Bank of New York Mellon Co. will post 6.96 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Monday, January 27th were issued a $0.47 dividend. The ex-dividend date was Monday, January 27th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.20%. Bank of New York Mellon’s dividend payout ratio (DPR) 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.