MTM Investment Management LLC Acquires New Position in The Bank of New York Mellon Co. (NYSE:BK)

MTM Investment Management LLC acquired a new stake in shares of The Bank of New York Mellon Co. (NYSE:BK) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 10,051 shares of the bank’s stock, valued at approximately $772,000.

Other institutional investors also recently bought and sold shares of the company. Grove Bank & Trust boosted its holdings in shares of Bank of New York Mellon by 28.8% during the 3rd quarter. Grove Bank & Trust now owns 644 shares of the bank’s stock valued at $46,000 after acquiring an additional 144 shares during the last quarter. Swedbank AB boosted its holdings in shares of Bank of New York Mellon by 4.1% during the 3rd quarter. Swedbank AB now owns 725,864 shares of the bank’s stock valued at $52,161,000 after acquiring an additional 28,384 shares during the last quarter. SeaCrest Wealth Management LLC boosted its holdings in shares of Bank of New York Mellon by 4.0% during the 3rd quarter. SeaCrest Wealth Management LLC now owns 6,830 shares of the bank’s stock valued at $491,000 after acquiring an additional 260 shares during the last quarter. McKinley Carter Wealth Services Inc. boosted its holdings in shares of Bank of New York Mellon by 758.6% during the 3rd quarter. McKinley Carter Wealth Services Inc. now owns 30,413 shares of the bank’s stock valued at $2,185,000 after acquiring an additional 26,871 shares during the last quarter. Finally, Vontobel Holding Ltd. boosted its holdings in shares of Bank of New York Mellon by 11.4% during the 3rd quarter. Vontobel Holding Ltd. now owns 63,884 shares of the bank’s stock valued at $4,591,000 after acquiring an additional 6,544 shares during the last quarter. 85.31% of the stock is owned by hedge funds and other institutional investors.

Bank of New York Mellon Stock Performance

NYSE BK opened at $85.30 on Thursday. The company has a market cap of $62.02 billion, a P/E ratio of 14.68, a P/E/G ratio of 0.98 and a beta of 1.08. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.70 and a current ratio of 0.69. The business’s 50 day moving average price is $80.87 and its 200-day moving average price is $75.11. The Bank of New York Mellon Co. has a fifty-two week low of $52.64 and a fifty-two week high of $87.70.

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 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 the consensus estimate of $4.66 billion. During the same quarter in the previous year, the company posted $1.28 EPS. The company’s revenue for the quarter was up 11.2% compared to the same quarter last year. Sell-side analysts predict that The Bank of New York Mellon Co. will post 6.89 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Monday, January 27th were issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date was Monday, January 27th. Bank of New York Mellon’s payout ratio is currently 32.36%.

Analysts Set New Price Targets

A number of analysts have commented on BK shares. Bank of America upped their target price on shares of Bank of New York Mellon from $90.00 to $95.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Keefe, Bruyette & Woods increased 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. Evercore ISI upped their price target on shares of Bank of New York Mellon from $79.00 to $83.00 and gave the stock an “in-line” rating in a research report on Thursday, January 16th. Truist Financial raised their price objective 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. Finally, Barclays upped their target price on shares of Bank of New York Mellon from $102.00 to $104.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $88.00.

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.