Atomi Financial Group Inc. Boosts Position in The Bank of New York Mellon Co. (NYSE:BK)

Atomi Financial Group Inc. increased its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK) by 10.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,362 shares of the bank’s stock after purchasing an additional 873 shares during the quarter. Atomi Financial Group Inc.’s holdings in Bank of New York Mellon were worth $719,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. United Advisor Group LLC purchased a new stake in Bank of New York Mellon during the third quarter worth approximately $595,000. Czech National Bank increased its position in Bank of New York Mellon by 4.9% during the fourth quarter. Czech National Bank now owns 157,645 shares of the bank’s stock worth $12,112,000 after buying an additional 7,316 shares during the period. Principal Financial Group Inc. increased its position in Bank of New York Mellon by 1.7% during the third quarter. Principal Financial Group Inc. now owns 883,853 shares of the bank’s stock worth $63,514,000 after buying an additional 14,916 shares during the period. Chase Investment Counsel Corp increased its position in Bank of New York Mellon by 67.2% during the third quarter. Chase Investment Counsel Corp now owns 83,530 shares of the bank’s stock worth $6,002,000 after buying an additional 33,558 shares during the period. Finally, Ameriprise Financial Inc. increased its position in Bank of New York Mellon by 4.2% during the second quarter. Ameriprise Financial Inc. now owns 10,416,436 shares of the bank’s stock worth $623,891,000 after buying an additional 421,161 shares during the period. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Stock Up 0.5 %

Bank of New York Mellon stock opened at $84.75 on Friday. 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 Bank of New York Mellon Co. has a 1-year low of $52.64 and a 1-year high of $85.81. The company has a market cap of $61.62 billion, a PE ratio of 14.59, a price-to-earnings-growth ratio of 0.97 and a beta of 1.08. The stock’s 50 day moving average price is $79.23 and its 200 day moving average price is $72.82.

Bank of New York Mellon (NYSE:BK) last posted its earnings results on Wednesday, January 15th. The bank reported $1.72 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.18. The company had revenue of $4.85 billion for 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%. Bank of New York Mellon’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.28 earnings per share. On average, sell-side analysts predict that The Bank of New York Mellon Co. will post 6.86 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Monday, January 27th will be given a dividend of $0.47 per share. The ex-dividend date is Monday, January 27th. This represents a $1.88 dividend on an annualized basis and a yield of 2.22%. Bank of New York Mellon’s payout ratio is 32.36%.

Wall Street Analyst Weigh In

Several research analysts have commented on BK shares. Barclays lifted their price target on Bank of New York Mellon from $102.00 to $104.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Truist Financial lifted their price target on Bank of New York Mellon from $91.00 to $93.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. JPMorgan Chase & Co. lifted their price target on Bank of New York Mellon from $69.00 to $77.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Citigroup boosted their target price on Bank of New York Mellon from $75.00 to $82.00 and gave the company a “neutral” rating in a report on Monday, November 25th. Finally, UBS Group boosted their target price on Bank of New York Mellon from $88.00 to $94.00 and gave the company a “buy” rating in a report on Tuesday. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, Bank of New York Mellon currently has a consensus 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.