Xponance Inc. Has $9.55 Million Position in The Bank of New York Mellon Co. (NYSE:BK)

Xponance Inc. lifted its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 3.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 124,250 shares of the bank’s stock after acquiring an additional 4,618 shares during the period. Xponance Inc.’s holdings in Bank of New York Mellon were worth $9,546,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. FMR LLC raised its holdings in Bank of New York Mellon by 78.6% during the third quarter. FMR LLC now owns 19,338,722 shares of the bank’s stock worth $1,389,680,000 after buying an additional 8,512,404 shares during the last quarter. Wellington Management Group LLP raised its holdings in Bank of New York Mellon by 2,707.1% during the third quarter. Wellington Management Group LLP now owns 3,258,967 shares of the bank’s stock worth $234,189,000 after buying an additional 3,142,869 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Bank of New York Mellon during the fourth quarter worth $90,955,000. Zacks Investment Management acquired a new position in Bank of New York Mellon during the third quarter worth $62,589,000. Finally, State Street Corp raised its holdings in Bank of New York Mellon by 2.0% during the third quarter. State Street Corp now owns 33,313,594 shares of the bank’s stock worth $2,393,915,000 after buying an additional 659,096 shares during the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on BK shares. Barclays upped their price objective on shares of Bank of New York Mellon from $102.00 to $104.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Truist Financial upped their target price on shares of 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. Wells Fargo & Company upped their target price on shares of Bank of New York Mellon from $86.00 to $96.00 and gave the stock an “equal weight” rating in a research note on Monday, March 3rd. Deutsche Bank Aktiengesellschaft upped their target price on shares of Bank of New York Mellon from $94.00 to $98.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $90.00 target price on shares of Bank of New York Mellon in a research note on Monday. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.50.

Bank of New York Mellon Price Performance

Shares of NYSE:BK opened at $82.62 on Wednesday. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.83. The firm has a market capitalization of $59.32 billion, a PE ratio of 14.22, a P/E/G ratio of 0.97 and a beta of 1.06. The Bank of New York Mellon Co. has a twelve month low of $52.64 and a twelve month high of $90.34. The company has a 50-day moving average price of $84.48 and a two-hundred day moving average price of $78.76.

Bank of New York Mellon (NYSE:BK) last issued its 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 firm had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.66 billion. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The company’s quarterly revenue was up 11.2% on a year-over-year basis. During the same quarter last year, the business earned $1.28 earnings per share. Equities analysts forecast that The Bank of New York Mellon Co. will post 6.96 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Monday, January 27th were given a dividend of $0.47 per share. The ex-dividend date was Monday, January 27th. This represents a $1.88 dividend on an annualized basis and a yield of 2.28%. Bank of New York Mellon’s dividend payout ratio is presently 32.36%.

About Bank of New York Mellon

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.