The Bank of New York Mellon Co. (NYSE:BK) Stock Holdings Lifted by Argent Trust Co

Argent Trust Co increased its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK) by 18.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,047 shares of the bank’s stock after acquiring an additional 4,258 shares during the quarter. Argent Trust Co’s holdings in Bank of New York Mellon were worth $2,078,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in BK. Capital Fund Management S.A. increased its stake in shares of Bank of New York Mellon by 358.5% in the fourth quarter. Capital Fund Management S.A. now owns 123,262 shares of the bank’s stock valued at $9,470,000 after purchasing an additional 96,377 shares during the period. Scotia Capital Inc. increased its position in Bank of New York Mellon by 8.7% in the 4th quarter. Scotia Capital Inc. now owns 14,527 shares of the bank’s stock valued at $1,116,000 after acquiring an additional 1,164 shares during the period. CenterBook Partners LP bought a new stake in Bank of New York Mellon during the 4th quarter valued at $1,189,000. DRW Securities LLC bought a new position in shares of Bank of New York Mellon in the fourth quarter worth $510,000. Finally, Azimuth Capital Investment Management LLC increased its holdings in shares of Bank of New York Mellon by 28.8% during the fourth quarter. Azimuth Capital Investment Management LLC now owns 413,822 shares of the bank’s stock valued at $31,794,000 after purchasing an additional 92,558 shares during the period. 85.31% of the stock is owned by institutional investors.

Bank of New York Mellon Trading Down 3.6 %

NYSE BK opened at $76.46 on Friday. The company has a market capitalization of $54.89 billion, a PE ratio of 13.16, a price-to-earnings-growth ratio of 0.97 and a beta of 1.03. The Bank of New York Mellon Co. has a 1-year low of $52.64 and a 1-year high of $90.34. 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 firm’s fifty day simple moving average is $83.77 and its 200-day simple moving average is $80.14.

Bank of New York Mellon (NYSE:BK) last posted 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. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. The company 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 earned $1.28 EPS. The business’s quarterly revenue was up 11.2% on a year-over-year basis. As a group, sell-side analysts anticipate that The Bank of New York Mellon Co. will post 6.96 earnings per share for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Monday, January 27th were paid a dividend of $0.47 per share. The ex-dividend date of this dividend was Monday, January 27th. This represents a $1.88 annualized dividend and a dividend yield of 2.46%. Bank of New York Mellon’s dividend payout ratio (DPR) is 32.36%.

Analyst Upgrades and Downgrades

BK has been the subject of a number of research analyst reports. Wolfe Research lowered shares of Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. Bank of America boosted their target price on shares of Bank of New York Mellon from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Morgan Stanley reduced their target price on shares of Bank of New York Mellon from $99.00 to $98.00 and set an “overweight” rating for the company in a report on Wednesday, April 2nd. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $90.00 target price on shares of Bank of New York Mellon in a research report on Monday, March 17th. Finally, Truist Financial cut their price objective on Bank of New York Mellon from $93.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, April 4th. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, Bank of New York Mellon has a consensus rating of “Moderate Buy” and an average target price of $89.86.

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.