Stock Yards Bank & Trust Co. Purchases New Position in The Bank of New York Mellon Co. (NYSE:BK)

Stock Yards Bank & Trust Co. purchased a new stake in shares of The Bank of New York Mellon Co. (NYSE:BK) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 2,696 shares of the bank’s stock, valued at approximately $207,000.

A number of other hedge funds also recently bought and sold shares of the business. State Street Corp grew its holdings in shares of Bank of New York Mellon by 2.0% during the 3rd 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 during the period. FMR LLC boosted its position in shares of Bank of New York Mellon by 78.6% in the 3rd quarter. FMR LLC now owns 19,338,722 shares of the bank’s stock worth $1,389,680,000 after purchasing an additional 8,512,404 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Bank of New York Mellon by 1.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,634,088 shares of the bank’s stock worth $476,726,000 after purchasing an additional 117,974 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Bank of New York Mellon by 2,707.1% in the 3rd 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 in the last quarter. Finally, Franklin Resources Inc. boosted its position in shares of Bank of New York Mellon by 8.3% in the 3rd quarter. Franklin Resources Inc. now owns 2,252,729 shares of the bank’s stock worth $172,348,000 after purchasing an additional 173,347 shares in the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Price Performance

Shares of BK opened at $84.90 on Wednesday. The company has a market cap of $61.73 billion, a price-to-earnings ratio of 14.61, a price-to-earnings-growth ratio of 0.98 and a beta of 1.08. 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 Bank of New York Mellon Co. has a twelve month low of $52.64 and a twelve month high of $87.70. The company has a 50 day moving average of $80.37 and a two-hundred day moving average of $74.19.

Bank of New York Mellon (NYSE:BK) last announced 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 analysts’ expectations of $4.66 billion. During the same period last year, the business posted $1.28 earnings per share. The company’s revenue for the quarter was up 11.2% compared to the same quarter last year. As a group, analysts predict that The Bank of New York Mellon Co. will post 6.86 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, February 7th. Investors of record on Monday, January 27th will be given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 2.21%. The ex-dividend date is Monday, January 27th. Bank of New York Mellon’s dividend payout ratio is currently 32.36%.

Analyst Ratings Changes

A number of analysts have recently commented on BK shares. Wolfe Research cut Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. Keefe, Bruyette & Woods boosted 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. Wells Fargo & Company upped their price objective on Bank of New York Mellon from $82.00 to $86.00 and gave the company an “equal weight” rating in a research report on Thursday, January 16th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $79.00 price objective on shares of Bank of New York Mellon in a research report on Monday, October 14th. Finally, Bank of America upped their price objective on Bank of New York Mellon from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $88.00.

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.