Pitcairn Co. Purchases 732 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Pitcairn Co. raised its position in The Bank of New York Mellon Co. (NYSE:BK) by 2.9% during the fourth quarter, Holdings Channel reports. The firm owned 25,811 shares of the bank’s stock after purchasing an additional 732 shares during the period. Pitcairn Co.’s holdings in Bank of New York Mellon were worth $1,983,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. State Street Corp boosted its stake in Bank of New York Mellon by 2.0% during the third quarter. State Street Corp now owns 33,313,594 shares of the bank’s stock worth $2,393,915,000 after acquiring an additional 659,096 shares in the last quarter. Norges Bank bought a new stake in Bank of New York Mellon in the 4th quarter valued at about $1,150,462,000. Arrowstreet Capital Limited Partnership raised its stake in Bank of New York Mellon by 17.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 7,751,219 shares of the bank’s stock worth $595,526,000 after buying an additional 1,125,493 shares during the period. Amundi grew its stake in Bank of New York Mellon by 5.1% in the fourth quarter. Amundi now owns 7,363,015 shares of the bank’s stock valued at $573,947,000 after acquiring an additional 359,942 shares during the period. Finally, Wellington Management Group LLP raised its position in shares of Bank of New York Mellon by 2,707.1% during the third quarter. Wellington Management Group LLP now owns 3,258,967 shares of the bank’s stock worth $234,189,000 after purchasing an additional 3,142,869 shares during the period. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have commented on BK shares. Morgan Stanley decreased their price target on shares of Bank of New York Mellon from $99.00 to $98.00 and set an “overweight” rating for the company in a research note on Wednesday. Evercore ISI boosted their price objective on Bank of New York Mellon from $83.00 to $87.00 and gave the stock an “in-line” rating in a report on Tuesday. Truist Financial raised their target price on Bank of New York Mellon from $91.00 to $93.00 and gave the company a “buy” rating in a 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. Finally, Wolfe Research downgraded shares of Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, Bank of New York Mellon currently has a consensus rating of “Moderate Buy” and a consensus price target of $90.07.

Bank of New York Mellon Stock Down 5.1 %

Shares of NYSE BK opened at $79.89 on Friday. The business’s fifty day moving average price is $85.23 and its 200-day moving average price is $79.93. The Bank of New York Mellon Co. has a one year low of $52.64 and a one year high of $90.34. The stock has a market capitalization of $57.36 billion, a PE ratio of 13.75, a P/E/G ratio of 0.97 and a beta of 1.03. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.69 and a quick ratio of 0.70.

Bank of New York Mellon (NYSE:BK) last issued its earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share for the quarter, topping analysts’ consensus estimates of $1.54 by $0.18. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The firm had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.66 billion. During the same quarter last year, the business earned $1.28 earnings per share. The company’s quarterly revenue was up 11.2% on a year-over-year basis. On average, equities research analysts anticipate 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 business also recently announced 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 annualized dividend and a dividend yield of 2.35%. Bank of New York Mellon’s dividend payout ratio is currently 32.36%.

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.