12,815 Shares in The Bank of New York Mellon Co. (NYSE:BK) Purchased by Meriwether Wealth & Planning LLC

Meriwether Wealth & Planning LLC acquired a new position in shares of The Bank of New York Mellon Co. (NYSE:BK) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 12,815 shares of the bank’s stock, valued at approximately $985,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. FMR LLC increased its position in shares of 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 valued at $1,389,680,000 after acquiring an additional 8,512,404 shares during the last quarter. Wellington Management Group LLP increased its position in shares of 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 valued at $234,189,000 after acquiring an additional 3,142,869 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Bank of New York Mellon during the fourth quarter valued at about $90,955,000. Zacks Investment Management acquired a new stake in shares of Bank of New York Mellon during the third quarter valued at about $62,589,000. Finally, State Street Corp increased its position in shares of 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 valued at $2,393,915,000 after acquiring an additional 659,096 shares during the last quarter. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Truist Financial lifted their price target on shares of 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. StockNews.com cut shares of Bank of New York Mellon from a “buy” rating to a “hold” rating in a report on Wednesday, February 19th. Barclays lifted their price objective on shares of Bank of New York Mellon from $102.00 to $104.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Wells Fargo & Company lifted their price objective on shares of Bank of New York Mellon from $86.00 to $96.00 and gave the company an “equal weight” rating in a report on Monday, March 3rd. Finally, Morgan Stanley lifted their price objective on shares of Bank of New York Mellon from $90.00 to $97.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $88.71.

Bank of New York Mellon Stock Up 1.5 %

Shares of NYSE:BK opened at $85.98 on Monday. The company has a market capitalization of $61.73 billion, a PE ratio of 14.80, a P/E/G ratio of 0.97 and a beta of 1.06. 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 Bank of New York Mellon Co. has a twelve month low of $52.64 and a twelve month high of $90.34. The firm has a 50 day simple moving average of $83.85 and a 200-day simple moving average of $78.03.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings data on Wednesday, January 15th. The bank reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.18. The business had revenue of $4.85 billion during the quarter, compared to the consensus estimate 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 revenue was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.28 EPS. On average, equities analysts predict 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 business also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Monday, January 27th were given 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 2.19%. Bank of New York Mellon’s dividend payout ratio is presently 32.36%.

Bank of New York Mellon Company 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.