NEOS Investment Management LLC Grows Stock Position in The Bank of New York Mellon Co. (NYSE:BK)

NEOS Investment Management LLC grew its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 31.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 46,647 shares of the bank’s stock after purchasing an additional 11,200 shares during the period. NEOS Investment Management LLC’s holdings in Bank of New York Mellon were worth $3,584,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

BK has been the subject of several research analyst reports. Citigroup upped their price objective on Bank of New York Mellon from $82.00 to $85.00 and gave the company a “neutral” rating in a report on Monday. Wells Fargo & Company raised their price objective on shares of Bank of New York Mellon from $86.00 to $96.00 and gave the company an “equal weight” rating in a research report on Monday, March 3rd. Truist Financial increased their target price on shares of Bank of New York Mellon from $91.00 to $93.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Bank of America lifted their price target on shares of Bank of New York Mellon from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Finally, Morgan Stanley raised their price objective on Bank of New York Mellon from $90.00 to $97.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $89.71.

Bank of New York Mellon Trading Down 0.5 %

Shares of NYSE BK opened at $84.63 on Friday. 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 Bank of New York Mellon Co. has a one year low of $52.64 and a one year high of $90.34. The business has a 50-day moving average price of $85.35 and a two-hundred day moving average price of $79.42. The firm has a market capitalization of $60.77 billion, a PE ratio of 14.57, a PEG ratio of 0.97 and a beta of 1.06.

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 the consensus estimate of $1.54 by $0.18. The business 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 firm’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same period last year, the company posted $1.28 earnings per share. As a group, 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 was paid on Friday, February 7th. Stockholders of record on Monday, January 27th were paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date was Monday, January 27th. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 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.