Los Angeles Capital Management LLC Grows Stock Position in The Bank of New York Mellon Co. (NYSE:BK)

Los Angeles Capital Management LLC boosted its position in The Bank of New York Mellon Co. (NYSE:BK) by 1,375.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 252,292 shares of the bank’s stock after buying an additional 235,190 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Bank of New York Mellon were worth $19,384,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the company. Studio Investment Management LLC increased its position in Bank of New York Mellon by 2.1% in the third quarter. Studio Investment Management LLC now owns 6,636 shares of the bank’s stock worth $477,000 after buying an additional 134 shares during the last quarter. Grove Bank & Trust grew its position in shares of Bank of New York Mellon by 21.0% in the fourth quarter. Grove Bank & Trust now owns 779 shares of the bank’s stock valued at $60,000 after purchasing an additional 135 shares in the last quarter. Avidian Wealth Enterprises LLC grew its position in shares of Bank of New York Mellon by 2.0% in the third quarter. Avidian Wealth Enterprises LLC now owns 7,024 shares of the bank’s stock valued at $505,000 after purchasing an additional 137 shares in the last quarter. Valeo Financial Advisors LLC grew its position in shares of Bank of New York Mellon by 1.6% in the fourth quarter. Valeo Financial Advisors LLC now owns 9,041 shares of the bank’s stock valued at $695,000 after purchasing an additional 139 shares in the last quarter. Finally, Stratos Investment Management LLC grew its position in shares of Bank of New York Mellon by 2.9% in the fourth quarter. Stratos Investment Management LLC now owns 5,109 shares of the bank’s stock valued at $393,000 after purchasing an additional 142 shares in the last quarter. 85.31% of the stock is owned by hedge funds and other institutional investors.

Bank of New York Mellon Trading Down 1.5 %

Shares of BK stock opened at $86.70 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 business has a 50-day moving average price of $82.38 and a two-hundred day moving average price of $76.80. The Bank of New York Mellon Co. has a 12-month low of $52.64 and a 12-month high of $89.44. The firm has a market cap of $63.04 billion, a P/E ratio of 14.92, a price-to-earnings-growth ratio of 0.97 and a beta of 1.08.

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

Bank of New York Mellon Announces Dividend

The company 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 annualized dividend and a yield of 2.17%. The ex-dividend date of this dividend was Monday, January 27th. Bank of New York Mellon’s dividend payout ratio (DPR) is currently 32.36%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on BK shares. Morgan Stanley lifted 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. Truist Financial lifted 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. Citigroup lifted 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. Bank of America lifted their price target on Bank of New York Mellon from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Finally, UBS Group lifted their price objective on Bank of New York Mellon from $88.00 to $94.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $88.00.

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.