Twin City Private Wealth LLC Boosts Stock Position in The Bank of New York Mellon Co. (NYSE:BK)

Twin City Private Wealth LLC boosted its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK) by 16.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 8,359 shares of the bank’s stock after purchasing an additional 1,194 shares during the quarter. Twin City Private Wealth LLC’s holdings in Bank of New York Mellon were worth $642,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Centricity Wealth Management LLC purchased a new stake in Bank of New York Mellon during the 4th quarter worth approximately $39,000. TCTC Holdings LLC grew its position in shares of Bank of New York Mellon by 257.5% in the 4th quarter. TCTC Holdings LLC now owns 597 shares of the bank’s stock worth $46,000 after acquiring an additional 430 shares in the last quarter. Modus Advisors LLC acquired a new position in shares of Bank of New York Mellon in the 4th quarter worth approximately $49,000. Friedenthal Financial acquired a new position in shares of Bank of New York Mellon in the 4th quarter worth approximately $56,000. Finally, Asset Dedication LLC grew its position in shares of Bank of New York Mellon by 342.1% in the 4th quarter. Asset Dedication LLC now owns 756 shares of the bank’s stock worth $58,000 after acquiring an additional 585 shares in the last quarter. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Bank of New York Mellon Trading Down 0.6 %

Shares of BK stock opened at $83.46 on Monday. 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 Bank of New York Mellon Co. has a 1 year low of $52.64 and a 1 year high of $90.34. The stock has a fifty day moving average of $84.88 and a two-hundred day moving average of $79.10. The firm has a market capitalization of $59.92 billion, a PE ratio of 14.36, a price-to-earnings-growth ratio of 0.97 and a beta of 1.06.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.66 billion. During the same quarter in the previous year, the firm posted $1.28 EPS. The firm’s quarterly revenue 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 year.

Bank of New York Mellon Announces Dividend

The firm 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 yield of 2.25%. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 32.36%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Truist Financial lifted their target price 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. StockNews.com lowered Bank of New York Mellon from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Morgan Stanley lifted their target price on 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. Keefe, Bruyette & Woods lifted their target price on 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. Finally, Evercore ISI boosted their price objective on Bank of New York Mellon from $79.00 to $83.00 and gave the company an “in-line” rating in a research report on Thursday, January 16th. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $89.50.

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.