514 Shares in The Bank of New York Mellon Co. (NYSE:BK) Acquired by Centricity Wealth Management LLC

Centricity Wealth Management LLC acquired a new stake in The Bank of New York Mellon Co. (NYSE:BK) during the 4th quarter, HoldingsChannel reports. The firm acquired 514 shares of the bank’s stock, valued at approximately $39,000.

Several other institutional investors and hedge funds have also bought and sold shares of BK. Fortitude Family Office LLC grew its stake in shares of Bank of New York Mellon by 130.6% during the 3rd quarter. Fortitude Family Office LLC now owns 611 shares of the bank’s stock worth $44,000 after acquiring an additional 346 shares during the period. Ashton Thomas Securities LLC purchased a new stake in Bank of New York Mellon during the third quarter valued at about $46,000. Modus Advisors LLC bought a new position in Bank of New York Mellon during the fourth quarter worth about $49,000. Concord Wealth Partners increased its stake in shares of Bank of New York Mellon by 150.5% in the third quarter. Concord Wealth Partners now owns 754 shares of the bank’s stock worth $54,000 after purchasing an additional 453 shares in the last quarter. Finally, Friedenthal Financial bought a new stake in shares of Bank of New York Mellon in the fourth quarter valued at approximately $56,000. 85.31% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on BK. Wells Fargo & Company raised their price objective on shares of 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. Morgan Stanley raised their price target on Bank of New York Mellon from $90.00 to $97.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Deutsche Bank Aktiengesellschaft boosted their price objective on Bank of New York Mellon from $94.00 to $98.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Truist Financial raised their target price on 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. Finally, Citigroup upped their price target on 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. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $88.00.

Bank of New York Mellon Price Performance

BK stock opened at $87.29 on Friday. The firm has a 50 day simple moving average of $82.04 and a two-hundred day simple moving average of $76.26. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.69 and a quick ratio of 0.70. The stock has a market cap of $63.46 billion, a PE ratio of 15.02, a P/E/G ratio of 1.00 and a beta of 1.08. The Bank of New York Mellon Co. has a one year low of $52.64 and a one year high of $89.44.

Bank of New York Mellon (NYSE:BK) last announced its earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $4.66 billion. During the same period in the previous year, the business earned $1.28 earnings per share. The firm’s quarterly revenue was up 11.2% compared to the same quarter last year. On average, analysts predict that The Bank of New York Mellon Co. will post 6.93 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Monday, January 27th were issued a dividend of $0.47 per share. The ex-dividend date of this dividend was Monday, January 27th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.15%. Bank of New York Mellon’s dividend payout ratio 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.