M.E. Allison & CO. Inc. Makes New $371,000 Investment in The Bank of New York Mellon Co. (NYSE:BK)

M.E. Allison & CO. Inc. purchased a new position in shares of The Bank of New York Mellon Co. (NYSE:BK) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 4,834 shares of the bank’s stock, valued at approximately $371,000.

A number of other institutional investors have also recently bought and sold shares of BK. McClarren Financial Advisors Inc. grew its position in shares of Bank of New York Mellon by 586.4% in the third quarter. McClarren Financial Advisors Inc. now owns 405 shares of the bank’s stock valued at $29,000 after purchasing an additional 346 shares during the last quarter. Fortitude Family Office LLC grew its position in shares of Bank of New York Mellon by 130.6% in the third quarter. Fortitude Family Office LLC now owns 611 shares of the bank’s stock valued at $44,000 after purchasing an additional 346 shares during the last quarter. Modus Advisors LLC acquired a new stake in Bank of New York Mellon during the fourth quarter worth approximately $49,000. Ashton Thomas Securities LLC acquired a new stake in Bank of New York Mellon during the third quarter worth approximately $46,000. Finally, Grove Bank & Trust grew its position in Bank of New York Mellon by 28.8% during the third quarter. Grove Bank & Trust now owns 644 shares of the bank’s stock worth $46,000 after buying an additional 144 shares in the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on BK. Keefe, Bruyette & Woods increased their price target 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. Truist Financial increased 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. Wells Fargo & Company increased their price target on Bank of New York Mellon from $82.00 to $86.00 and gave the stock an “equal weight” rating in a research report on Thursday. Bank of America upped 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 note on Thursday. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $79.00 target price on shares of Bank of New York Mellon in a research note on Monday, October 14th. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $87.14.

Bank of New York Mellon Price Performance

Bank of New York Mellon stock opened at $83.31 on Monday. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.89. The stock has a market cap of $60.57 billion, a P/E ratio of 18.11, a P/E/G ratio of 0.76 and a beta of 1.08. The company’s 50 day moving average price is $78.87 and its two-hundred day moving average price is $72.32. The Bank of New York Mellon Co. has a 52 week low of $52.64 and a 52 week high of $83.67.

Bank of New York Mellon (NYSE:BK) last posted its quarterly 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 analysts’ expectations of $4.66 billion. Bank of New York Mellon had a net margin of 9.44% and a return on equity of 12.06%. Bank of New York Mellon’s revenue was up 11.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.28 EPS. On average, equities analysts predict that The Bank of New York Mellon Co. will post 5.87 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Stockholders 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 dividend yield of 2.26%. Bank of New York Mellon’s dividend payout ratio (DPR) is currently 40.87%.

Bank of New York Mellon 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.