The Bank of New York Mellon Co. (NYSE:BK) Shares Bought by Ritholtz Wealth Management

Ritholtz Wealth Management grew its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 4.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 28,934 shares of the bank’s stock after buying an additional 1,291 shares during the quarter. Ritholtz Wealth Management’s holdings in Bank of New York Mellon were worth $2,223,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Axxcess Wealth Management LLC lifted its holdings in Bank of New York Mellon by 45.4% during the second quarter. Axxcess Wealth Management LLC now owns 10,855 shares of the bank’s stock valued at $650,000 after purchasing an additional 3,389 shares in the last quarter. Argent Trust Co raised its position in shares of Bank of New York Mellon by 10.5% during the 2nd quarter. Argent Trust Co now owns 21,855 shares of the bank’s stock worth $1,309,000 after purchasing an additional 2,072 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. lifted its stake in Bank of New York Mellon by 3.7% in the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 24,937 shares of the bank’s stock valued at $1,493,000 after buying an additional 897 shares in the last quarter. Blair William & Co. IL boosted its holdings in Bank of New York Mellon by 10.7% in the 2nd quarter. Blair William & Co. IL now owns 23,691 shares of the bank’s stock worth $1,419,000 after buying an additional 2,298 shares during the last quarter. Finally, XTX Topco Ltd increased its stake in Bank of New York Mellon by 95.7% during the 2nd quarter. XTX Topco Ltd now owns 25,427 shares of the bank’s stock worth $1,523,000 after buying an additional 12,432 shares in the last quarter. 85.31% of the stock is owned by institutional investors and hedge funds.

Bank of New York Mellon Trading Up 1.3 %

Shares of Bank of New York Mellon stock opened at $83.31 on Friday. The stock has a 50 day moving average of $78.74 and a 200 day moving average of $72.08. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.70 and a current ratio of 0.70. The firm has a market capitalization of $60.57 billion, a price-to-earnings ratio of 18.11, a PEG ratio of 0.76 and a beta of 1.08. The Bank of New York Mellon Co. has a fifty-two week low of $52.64 and a fifty-two week high of $83.67.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share for the quarter, topping analysts’ consensus estimates of $1.54 by $0.18. The business had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.66 billion. Bank of New York Mellon had a return on equity of 12.06% and a net margin of 9.44%. The company’s revenue was up 11.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.28 EPS. As a group, research analysts predict that The Bank of New York Mellon Co. will post 5.87 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Monday, January 27th will be given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date is Monday, January 27th. Bank of New York Mellon’s dividend payout ratio is presently 40.87%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on BK. Bank of America raised their target price on Bank of New York Mellon from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Thursday. Morgan Stanley lifted their target price on shares of Bank of New York Mellon from $90.00 to $97.00 and gave the stock an “overweight” rating in a research note on Thursday. Citigroup increased 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 report on Monday, November 25th. Royal Bank of Canada restated a “sector perform” rating and set a $79.00 price target on shares of Bank of New York Mellon in a research report on Monday, October 14th. Finally, Truist Financial increased their price objective on shares of Bank of New York Mellon from $91.00 to $93.00 and gave the company a “buy” rating in a report on Thursday. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, Bank of New York Mellon has a consensus rating of “Moderate Buy” and a consensus price target of $87.14.

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.