Townsquare Capital LLC Has $2.27 Million Stock Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Townsquare Capital LLC raised its stake in The Bank of New York Mellon Co. (NYSE:BK) by 34.3% in the 4th quarter, HoldingsChannel reports. The firm owned 29,544 shares of the bank’s stock after acquiring an additional 7,543 shares during the quarter. Townsquare Capital LLC’s holdings in Bank of New York Mellon were worth $2,270,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Cape Investment Advisory Inc. boosted its holdings in shares of Bank of New York Mellon by 12.6% in the 4th quarter. Cape Investment Advisory Inc. now owns 1,172 shares of the bank’s stock worth $90,000 after purchasing an additional 131 shares in the last quarter. Oppenheimer & Co. Inc. boosted its stake in Bank of New York Mellon by 0.4% in the fourth quarter. Oppenheimer & Co. Inc. now owns 34,536 shares of the bank’s stock worth $2,653,000 after buying an additional 133 shares in the last quarter. Grove Bank & Trust grew its position in Bank of New York Mellon by 21.0% during the fourth quarter. Grove Bank & Trust now owns 779 shares of the bank’s stock valued at $60,000 after acquiring an additional 135 shares during the last quarter. Valeo Financial Advisors LLC boosted its stake in shares of Bank of New York Mellon by 1.6% in the 4th quarter. Valeo Financial Advisors LLC now owns 9,041 shares of the bank’s stock valued at $695,000 after purchasing an additional 139 shares in the last quarter. Finally, Stratos Investment Management LLC boosted its position in Bank of New York Mellon by 2.9% during the fourth quarter. Stratos Investment Management LLC now owns 5,109 shares of the bank’s stock valued at $393,000 after buying an additional 142 shares during the period. Institutional investors and hedge funds own 85.31% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on BK shares. Royal Bank of Canada restated a “sector perform” rating and set a $90.00 target price on shares of Bank of New York Mellon in a report on Monday, March 17th. Morgan Stanley decreased their target price on shares of Bank of New York Mellon from $99.00 to $98.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 2nd. Wolfe Research lowered shares of Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. Deutsche Bank Aktiengesellschaft raised their price target on shares of Bank of New York Mellon from $94.00 to $98.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Finally, Truist Financial cut their target price on Bank of New York Mellon from $90.00 to $87.00 and set a “buy” rating on the stock in a research note on Monday. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $89.64.

Bank of New York Mellon Price Performance

BK opened at $77.74 on Wednesday. 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 company has a market cap of $55.81 billion, a price-to-earnings ratio of 13.38, a price-to-earnings-growth ratio of 0.97 and a beta of 1.03. The stock has a fifty day simple moving average of $83.29 and a two-hundred day simple moving average of $80.26. The Bank of New York Mellon Co. has a 12-month low of $52.64 and a 12-month high of $90.34.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings results on Friday, April 11th. The bank reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.08. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The company had revenue of $4.79 billion during the quarter, compared to analyst estimates of $4.76 billion. During the same period last year, the business earned $1.29 EPS. Bank of New York Mellon’s quarterly revenue was up 5.9% compared to the same quarter last year. Research analysts predict 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 business also recently declared a quarterly dividend, which will be paid on Friday, May 2nd. Stockholders of record on Monday, April 21st will be given a $0.47 dividend. The ex-dividend date is Monday, April 21st. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.42%. Bank of New York Mellon’s dividend payout ratio is currently 30.62%.

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.