2,696 Shares in The Bank of New York Mellon Co. (NYSE:BK) Purchased by Stock Yards Bank & Trust Co.

Stock Yards Bank & Trust Co. purchased a new position in The Bank of New York Mellon Co. (NYSE:BK) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 2,696 shares of the bank’s stock, valued at approximately $207,000.

A number of other institutional investors have also recently bought and sold shares of the stock. Czech National Bank grew its stake in Bank of New York Mellon by 5.5% during the 3rd quarter. Czech National Bank now owns 150,329 shares of the bank’s stock valued at $10,803,000 after acquiring an additional 7,825 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Bank of New York Mellon by 38.6% in the 3rd quarter. GAMMA Investing LLC now owns 12,717 shares of the bank’s stock worth $914,000 after purchasing an additional 3,540 shares during the last quarter. Diversified Trust Co lifted its holdings in Bank of New York Mellon by 56.1% in the 3rd quarter. Diversified Trust Co now owns 50,231 shares of the bank’s stock worth $3,610,000 after purchasing an additional 18,050 shares during the last quarter. Mather Group LLC. lifted its holdings in Bank of New York Mellon by 7.8% in the 3rd quarter. Mather Group LLC. now owns 8,610 shares of the bank’s stock worth $619,000 after purchasing an additional 625 shares during the last quarter. Finally, Axiom Advisory LLC lifted its holdings in shares of Bank of New York Mellon by 1.6% during the third quarter. Axiom Advisory LLC now owns 25,600 shares of the bank’s stock worth $1,684,000 after buying an additional 400 shares during the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Wells Fargo & Company upped their price target on Bank of New York Mellon from $82.00 to $86.00 and gave the stock an “equal weight” rating in a report on Thursday, January 16th. Truist Financial upped their price target on Bank of New York Mellon from $91.00 to $93.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Morgan Stanley upped their price target on Bank of New York Mellon from $90.00 to $97.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. UBS Group increased their target price on Bank of New York Mellon from $88.00 to $94.00 and gave the stock a “buy” rating in a report on Tuesday, January 21st. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $79.00 target price on shares of Bank of New York Mellon in a report on Monday, October 14th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $88.00.

Bank of New York Mellon Stock Performance

Shares of BK opened at $84.90 on Wednesday. The company has a current ratio of 0.69, a quick ratio of 0.70 and a debt-to-equity ratio of 0.83. The company has a market capitalization of $61.73 billion, a price-to-earnings ratio of 14.61, a PEG ratio of 0.98 and a beta of 1.08. The stock has a 50 day moving average of $80.37 and a 200 day moving average of $74.19. The Bank of New York Mellon Co. has a 12 month low of $52.64 and a 12 month high of $87.70.

Bank of New York Mellon (NYSE:BK) last released its earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.54 by $0.18. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. The business had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.66 billion. During the same period last year, the business posted $1.28 earnings per share. The business’s revenue for the quarter was up 11.2% on a year-over-year basis. As a group, sell-side analysts forecast that The Bank of New York Mellon Co. will post 6.86 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Monday, January 27th will be 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 of this dividend is Monday, January 27th. Bank of New York Mellon’s dividend payout ratio (DPR) is currently 32.36%.

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.