Parallel Advisors LLC Has $957,000 Stock Position in The Bank of New York Mellon Co. (NYSE:BK)

Parallel Advisors LLC grew its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 3.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,450 shares of the bank’s stock after purchasing an additional 363 shares during the period. Parallel Advisors LLC’s holdings in Bank of New York Mellon were worth $957,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in BK. Centricity Wealth Management LLC acquired a new position in shares of Bank of New York Mellon during the fourth quarter valued at about $39,000. Modus Advisors LLC acquired a new position in shares of Bank of New York Mellon during the fourth quarter valued at about $49,000. Friedenthal Financial acquired a new position in shares of Bank of New York Mellon during the fourth quarter valued at about $56,000. Asset Dedication LLC raised its holdings in shares of Bank of New York Mellon by 342.1% in the 4th quarter. Asset Dedication LLC now owns 756 shares of the bank’s stock worth $58,000 after acquiring an additional 585 shares during the last quarter. Finally, Grove Bank & Trust raised its holdings in shares of Bank of New York Mellon by 21.0% in the 4th quarter. Grove Bank & Trust now owns 779 shares of the bank’s stock worth $60,000 after acquiring an additional 135 shares during the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. StockNews.com lowered shares of Bank of New York Mellon from a “buy” rating to a “hold” rating in a report on Wednesday, February 19th. Bank of America upped 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. 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 report on Thursday, January 16th. Morgan Stanley upped their target price on shares of Bank of New York Mellon from $90.00 to $97.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Finally, Keefe, Bruyette & Woods upped 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 report on Tuesday, December 3rd. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.50.

Bank of New York Mellon Stock Up 1.6 %

Bank of New York Mellon stock opened at $83.95 on Thursday. 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 moving average price of $84.60 and a 200-day moving average price of $78.80. The company has a market capitalization of $60.27 billion, a P/E ratio of 14.45, a P/E/G ratio of 0.97 and a beta of 1.06. 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, beating analysts’ consensus estimates of $1.54 by $0.18. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The firm had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.66 billion. During the same period in the prior year, the firm earned $1.28 EPS. The company’s revenue was up 11.2% compared to the same quarter last year. As a group, equities analysts predict 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 business also recently announced 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. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date of this dividend was Monday, January 27th. Bank of New York Mellon’s dividend payout ratio is currently 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.