The Bank of New York Mellon Co. (NYSE:BK) Position Increased by Howard Capital Management Inc.

Howard Capital Management Inc. increased its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 5.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,936 shares of the bank’s stock after acquiring an additional 252 shares during the period. Howard Capital Management Inc.’s holdings in Bank of New York Mellon were worth $379,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Centricity Wealth Management LLC purchased a new stake in shares of Bank of New York Mellon during the fourth quarter worth $39,000. Fortitude Family Office LLC increased its position in Bank of New York Mellon by 130.6% during the third quarter. Fortitude Family Office LLC now owns 611 shares of the bank’s stock worth $44,000 after buying an additional 346 shares during the last quarter. Ashton Thomas Securities LLC acquired a new position in Bank of New York Mellon during the third quarter worth $46,000. Modus Advisors LLC acquired a new position in Bank of New York Mellon during the fourth quarter worth $49,000. Finally, Concord Wealth Partners increased its position in Bank of New York Mellon by 150.5% during the third quarter. Concord Wealth Partners now owns 754 shares of the bank’s stock worth $54,000 after buying an additional 453 shares during the last quarter. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BK has been the topic of several analyst reports. Keefe, Bruyette & Woods increased their target price on shares of Bank of New York Mellon from $87.00 to $96.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. Truist Financial increased 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 report on Thursday, January 16th. Bank of America increased 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 research report on Thursday, January 16th. UBS Group increased their target price on shares of Bank of New York Mellon from $88.00 to $94.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. Finally, Citigroup raised 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 issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $88.00.

Bank of New York Mellon Stock Up 0.8 %

BK stock opened at $87.97 on Tuesday. The Bank of New York Mellon Co. has a twelve month low of $52.64 and a twelve month high of $89.44. The company has a market cap of $63.96 billion, a PE ratio of 15.14, a price-to-earnings-growth ratio of 0.98 and a beta of 1.08. The business’s 50-day simple moving average is $82.21 and its 200 day simple moving average is $76.64. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.83.

Bank of New York Mellon (NYSE:BK) last released 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. 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 for the quarter, compared to the consensus estimate of $4.66 billion. During the same period last year, the business earned $1.28 earnings per share. The firm’s revenue for the quarter was up 11.2% compared to the same quarter last year. On average, research analysts anticipate that The Bank of New York Mellon Co. will post 6.94 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Monday, January 27th were paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date was Monday, January 27th. 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.