Graney & King LLC Buys New Stake in The Bank of New York Mellon Co. (NYSE:BK)

Graney & King LLC purchased a new position in shares of The Bank of New York Mellon Co. (NYSE:BK) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 452 shares of the bank’s stock, valued at approximately $35,000.

A number of other institutional investors have also modified their holdings of the stock. Borer Denton & Associates Inc. increased its holdings in shares of Bank of New York Mellon by 9.0% during the 4th quarter. Borer Denton & Associates Inc. now owns 29,009 shares of the bank’s stock valued at $2,229,000 after purchasing an additional 2,389 shares in the last quarter. Financial Counselors Inc. grew its position in Bank of New York Mellon by 4.5% during the fourth quarter. Financial Counselors Inc. now owns 4,260 shares of the bank’s stock valued at $327,000 after buying an additional 184 shares during the period. Mitsubishi UFJ Trust & Banking Corp increased its holdings in Bank of New York Mellon by 6.0% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,035,321 shares of the bank’s stock valued at $79,544,000 after buying an additional 58,499 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. boosted its stake in shares of Bank of New York Mellon by 4.3% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 25,414 shares of the bank’s stock worth $1,953,000 after acquiring an additional 1,045 shares in the last quarter. Finally, PKS Advisory Services LLC acquired a new stake in shares of Bank of New York Mellon during the 4th quarter valued at about $2,015,000. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Stock Down 0.2 %

BK stock opened at $85.07 on Thursday. The Bank of New York Mellon Co. has a one year low of $52.64 and a one year high of $90.34. The firm has a market cap of $61.08 billion, a PE ratio of 14.64, a PEG ratio of 0.97 and a beta of 1.06. The firm’s 50 day moving average price is $85.31 and its 200-day moving average price is $79.39. 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 posted its earnings results on Wednesday, January 15th. The bank reported $1.72 EPS for the quarter, beating analysts’ consensus estimates of $1.54 by $0.18. The company had revenue of $4.85 billion for 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 company’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.28 earnings per share. On average, equities research analysts anticipate that The Bank of New York Mellon Co. will post 6.96 EPS for the current year.

Bank of New York Mellon Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Monday, January 27th were paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 2.21%. The ex-dividend date was Monday, January 27th. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 32.36%.

Analyst Upgrades and Downgrades

BK has been the topic of a number of recent analyst reports. Truist Financial increased their price target 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. Barclays lifted 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 note on Thursday, January 16th. Bank of America upped their price objective on shares of Bank of New York Mellon from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Evercore ISI lifted their target price on shares of Bank of New York Mellon from $79.00 to $83.00 and gave the company an “in-line” rating in a research report on Thursday, January 16th. Finally, Citigroup upped their price target on shares of Bank of New York Mellon from $82.00 to $85.00 and gave the stock a “neutral” rating in a research report on Monday. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $89.71.

Bank of New York Mellon Company 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.