PKS Advisory Services LLC Acquires New Holdings in The Bank of New York Mellon Co. (NYSE:BK)

PKS Advisory Services LLC purchased a new position in shares of The Bank of New York Mellon Co. (NYSE:BK) during the 4th quarter, HoldingsChannel reports. The firm purchased 26,221 shares of the bank’s stock, valued at approximately $2,015,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. First American Trust FSB lifted its holdings in Bank of New York Mellon by 3.4% in the 4th quarter. First American Trust FSB now owns 54,049 shares of the bank’s stock worth $4,153,000 after purchasing an additional 1,783 shares during the last quarter. TIAA Trust National Association grew its stake in Bank of New York Mellon by 5.4% in the 4th quarter. TIAA Trust National Association now owns 21,457 shares of the bank’s stock valued at $1,649,000 after buying an additional 1,099 shares during the last quarter. Modern Wealth Management LLC raised its holdings in Bank of New York Mellon by 12.4% in the 4th quarter. Modern Wealth Management LLC now owns 6,557 shares of the bank’s stock worth $558,000 after acquiring an additional 724 shares during the period. Segall Bryant & Hamill LLC lifted its position in Bank of New York Mellon by 642.8% during the 4th quarter. Segall Bryant & Hamill LLC now owns 197,338 shares of the bank’s stock worth $15,161,000 after acquiring an additional 170,772 shares during the last quarter. Finally, CoreFirst Bank & Trust bought a new stake in Bank of New York Mellon during the fourth quarter valued at about $101,000. Institutional investors own 85.31% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on BK. Truist Financial boosted their price objective 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. Wells Fargo & Company upped their price target on Bank of New York Mellon from $86.00 to $96.00 and gave the stock an “equal weight” rating in a report on Monday, March 3rd. Bank of America raised their price objective on shares of Bank of New York Mellon from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Morgan Stanley upped their target price on shares of Bank of New York Mellon from $90.00 to $97.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Finally, StockNews.com lowered shares of Bank of New York Mellon from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $89.71.

Bank of New York Mellon Trading Up 1.4 %

BK stock opened at $84.76 on Tuesday. The Bank of New York Mellon Co. has a 1-year low of $52.64 and a 1-year high of $90.34. The company has a current ratio of 0.69, a quick ratio of 0.70 and a debt-to-equity ratio of 0.83. The business’s 50 day moving average is $85.06 and its 200-day moving average is $79.22. The firm has a market cap of $60.86 billion, a P/E ratio of 14.59, a P/E/G ratio of 0.97 and a beta of 1.06.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings data 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 firm had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.66 billion. During the same period in the prior year, the company posted $1.28 earnings per share. The business’s revenue for the quarter was up 11.2% compared to the same quarter last year. Equities 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 Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Monday, January 27th were issued a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 2.22%. The ex-dividend date was Monday, January 27th. Bank of New York Mellon’s payout ratio is currently 32.36%.

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.