Marietta Investment Partners LLC Takes $384,000 Position in The Bank of New York Mellon Co. (NYSE:BK)

Marietta Investment Partners LLC bought a new stake in The Bank of New York Mellon Co. (NYSE:BK) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 5,001 shares of the bank’s stock, valued at approximately $384,000.

A number of other institutional investors also recently modified their holdings of the business. Mizuho Securities USA LLC boosted its position in shares of Bank of New York Mellon by 44.0% in the fourth quarter. Mizuho Securities USA LLC now owns 68,911 shares of the bank’s stock valued at $5,294,000 after acquiring an additional 21,058 shares during the period. Sciencast Management LP lifted its position in Bank of New York Mellon by 1.2% during the fourth quarter. Sciencast Management LP now owns 39,541 shares of the bank’s stock worth $3,038,000 after purchasing an additional 468 shares during the period. Millstone Evans Group LLC bought a new stake in Bank of New York Mellon during the fourth quarter worth about $65,000. 1620 Investment Advisors Inc. bought a new stake in Bank of New York Mellon during the fourth quarter worth about $93,000. Finally, Lee Danner & Bass Inc. bought a new stake in Bank of New York Mellon during the fourth quarter worth about $90,000. Institutional investors own 85.31% of the company’s stock.

Wall Street Analyst Weigh In

BK has been the subject of several recent analyst reports. Keefe, Bruyette & Woods upped their price objective 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. Citigroup upped their price objective on shares of Bank of New York Mellon from $75.00 to $82.00 and gave the stock a “neutral” rating in a research report on Monday, November 25th. Morgan Stanley upped their price objective on shares of Bank of New York Mellon from $90.00 to $97.00 and gave the stock an “overweight” 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 research report on Wednesday, February 19th. Finally, 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 report on Thursday, January 16th. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, Bank of New York Mellon currently has an average rating of “Moderate Buy” and a consensus target price of $89.50.

Bank of New York Mellon Stock Performance

Bank of New York Mellon stock opened at $83.46 on Friday. The business has a 50 day moving average of $84.88 and a 200-day moving average of $78.94. 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 debt-to-equity ratio of 0.83, a current ratio of 0.69 and a quick ratio of 0.70. The company has a market capitalization of $59.92 billion, a P/E ratio of 14.36, a P/E/G ratio of 0.97 and a beta of 1.06.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings data on Wednesday, January 15th. The bank reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.18. The company 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 return on equity of 12.68% and a net margin of 11.35%. The firm’s revenue was up 11.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.28 earnings per share. On average, equities research analysts predict that The Bank of New York Mellon Co. will post 6.96 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 7th. Shareholders 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 yield of 2.25%. The ex-dividend date was Monday, January 27th. 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.