KCM Investment Advisors LLC Buys New Shares in The Bank of New York Mellon Co. (NYSE:BK)

KCM Investment Advisors LLC purchased a new position in shares of The Bank of New York Mellon Co. (NYSE:BK) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 2,892 shares of the bank’s stock, valued at approximately $222,000.

Other hedge funds also recently made changes to their positions in the company. Norges Bank purchased a new position in shares of Bank of New York Mellon in the 4th quarter worth $1,150,462,000. Arrowstreet Capital Limited Partnership raised its holdings in shares of Bank of New York Mellon by 17.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 7,751,219 shares of the bank’s stock worth $595,526,000 after purchasing an additional 1,125,493 shares during the period. Amundi raised its holdings in shares of Bank of New York Mellon by 5.1% in the 4th quarter. Amundi now owns 7,363,015 shares of the bank’s stock worth $573,947,000 after purchasing an additional 359,942 shares during the period. Wellington Management Group LLP grew its holdings in shares of Bank of New York Mellon by 2,707.1% during the 3rd quarter. Wellington Management Group LLP now owns 3,258,967 shares of the bank’s stock worth $234,189,000 after purchasing an additional 3,142,869 shares during the period. Finally, Franklin Resources Inc. increased its position in Bank of New York Mellon by 2.0% during the 4th quarter. Franklin Resources Inc. now owns 2,297,463 shares of the bank’s stock worth $176,514,000 after purchasing an additional 44,734 shares in the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Bank of New York Mellon Trading Down 8.4 %

BK opened at $73.17 on Monday. The Bank of New York Mellon Co. has a 12-month low of $52.64 and a 12-month 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 stock has a market capitalization of $52.53 billion, a PE ratio of 12.59, a P/E/G ratio of 0.97 and a beta of 1.03. The firm’s fifty day moving average price is $84.98 and its 200 day moving average price is $80.08.

Bank of New York Mellon (NYSE:BK) last issued its earnings results 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. 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 for the quarter, compared to analyst estimates of $4.66 billion. During the same period last year, the company earned $1.28 earnings per share. The firm’s revenue for the quarter was up 11.2% on a year-over-year basis. As a group, research analysts expect 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 declared 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. The ex-dividend date of this dividend was Monday, January 27th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.57%. Bank of New York Mellon’s dividend payout ratio (DPR) is 32.36%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Barclays boosted their price objective on shares of Bank of New York Mellon from $102.00 to $104.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Truist Financial decreased their price target on shares of Bank of New York Mellon from $93.00 to $90.00 and set a “buy” rating for the company in a research report on Friday. Wells Fargo & Company raised their price objective on Bank of New York Mellon from $86.00 to $96.00 and gave the company an “equal weight” rating in a research report on Monday, March 3rd. StockNews.com downgraded Bank of New York Mellon from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Finally, Wolfe Research downgraded Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $89.86.

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.