OFI Invest Asset Management Purchases Shares of 28,738 The Bank of New York Mellon Co. (NYSE:BK)

OFI Invest Asset Management purchased a new stake in The Bank of New York Mellon Co. (NYSE:BK) during the fourth quarter, HoldingsChannel.com reports. The firm purchased 28,738 shares of the bank’s stock, valued at approximately $2,132,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Centricity Wealth Management LLC acquired a new position in Bank of New York Mellon in the fourth quarter valued at about $39,000. Modus Advisors LLC acquired a new position in shares of Bank of New York Mellon during the fourth quarter worth approximately $49,000. Ashton Thomas Securities LLC acquired a new position in shares of Bank of New York Mellon during the third quarter worth approximately $46,000. Friedenthal Financial acquired a new position in shares of Bank of New York Mellon during the fourth quarter worth approximately $56,000. Finally, Asset Dedication LLC lifted its position in shares of Bank of New York Mellon by 342.1% during the fourth quarter. Asset Dedication LLC now owns 756 shares of the bank’s stock worth $58,000 after purchasing an additional 585 shares in the last quarter. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BK has been the topic of a number of research reports. 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 research report on Thursday, January 16th. Truist Financial upped their target price on shares of 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 downgraded shares of Bank of New York Mellon from a “buy” rating to a “hold” rating in a research note on Wednesday, February 19th. UBS Group boosted their price target on shares of Bank of New York Mellon from $88.00 to $94.00 and gave the stock a “buy” rating in a research note on Tuesday, January 21st. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Bank of New York Mellon from $87.00 to $96.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 3rd. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $88.71.

Bank of New York Mellon Stock Up 1.5 %

Bank of New York Mellon stock opened at $85.98 on Monday. The stock has a market capitalization of $61.73 billion, a PE ratio of 14.80, a price-to-earnings-growth ratio of 0.97 and a beta of 1.06. The Bank of New York Mellon Co. has a twelve month low of $52.64 and a twelve month high of $90.34. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.83. The company has a 50 day moving average of $83.85 and a 200-day moving average of $78.03.

Bank of New York Mellon (NYSE:BK) last released its quarterly 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. The company had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.66 billion. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The business’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.28 earnings per share. On average, equities research analysts anticipate that The Bank of New York Mellon Co. will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

The business also recently declared 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 2.19%. The ex-dividend date of this dividend was Monday, January 27th. Bank of New York Mellon’s dividend payout ratio (DPR) 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.