Napatree Capital LLC Buys New Position in The Bank of New York Mellon Co. (NYSE:BK)

Napatree Capital LLC acquired a new position in The Bank of New York Mellon Co. (NYSE:BK) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 2,716 shares of the bank’s stock, valued at approximately $209,000.

Other hedge funds also recently modified their holdings of the company. Prospera Financial Services Inc raised its holdings in shares of Bank of New York Mellon by 11.4% in the 3rd quarter. Prospera Financial Services Inc now owns 5,294 shares of the bank’s stock worth $381,000 after buying an additional 542 shares in the last quarter. Segall Bryant & Hamill LLC acquired a new stake in Bank of New York Mellon during the 3rd quarter valued at $1,909,000. Commerce Bank increased its holdings in Bank of New York Mellon by 1.2% during the 3rd quarter. Commerce Bank now owns 29,995 shares of the bank’s stock valued at $2,155,000 after purchasing an additional 352 shares in the last quarter. Pacer Advisors Inc. increased its holdings in Bank of New York Mellon by 119.1% during the 3rd quarter. Pacer Advisors Inc. now owns 116,690 shares of the bank’s stock valued at $8,385,000 after purchasing an additional 63,427 shares in the last quarter. Finally, Eagle Asset Management Inc. increased its holdings in Bank of New York Mellon by 2.7% during the 3rd quarter. Eagle Asset Management Inc. now owns 138,153 shares of the bank’s stock valued at $10,646,000 after purchasing an additional 3,651 shares in the last quarter. Institutional investors own 85.31% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $90.00 price target on shares of Bank of New York Mellon in a report on Monday, March 17th. Wolfe Research cut Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. Bank of America boosted their target price on Bank of New York Mellon from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Barclays boosted their target price 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. Finally, Evercore ISI boosted their target price on 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. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $89.50.

Bank of New York Mellon Stock Down 0.6 %

BK stock opened at $83.46 on Monday. 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 $59.92 billion, a P/E ratio of 14.36, a P/E/G ratio of 0.97 and a beta of 1.06. The business has a 50-day moving average of $84.88 and a 200-day moving average of $79.10. The Bank of New York Mellon Co. has a fifty-two week low of $52.64 and a fifty-two week high of $90.34.

Bank of New York Mellon (NYSE:BK) last released its earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share (EPS) 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 business had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.66 billion. During the same quarter in the prior year, the company posted $1.28 earnings per share. Bank of New York Mellon’s revenue was up 11.2% on a year-over-year basis. On average, sell-side analysts anticipate that The Bank of New York Mellon Co. will post 6.96 earnings per share for the current fiscal year.

Bank of New York Mellon Announces Dividend

The business also recently announced 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. The ex-dividend date of this dividend was Monday, January 27th. This represents a $1.88 annualized dividend and a yield of 2.25%. Bank of New York Mellon’s payout ratio is presently 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.