Hickory Point Bank & Trust Takes Position in The Bank of New York Mellon Co. (NYSE:BK)

Hickory Point Bank & Trust acquired a new stake in The Bank of New York Mellon Co. (NYSE:BK) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 4,007 shares of the bank’s stock, valued at approximately $308,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Centricity Wealth Management LLC acquired a new position in Bank of New York Mellon during the 4th quarter worth approximately $39,000. Ashton Thomas Securities LLC acquired a new position in Bank of New York Mellon during the 3rd quarter worth approximately $46,000. Modus Advisors LLC acquired a new position in Bank of New York Mellon during the 4th quarter worth approximately $49,000. Friedenthal Financial acquired a new position in Bank of New York Mellon during the 4th quarter worth approximately $56,000. Finally, Asset Dedication LLC lifted its position in Bank of New York Mellon by 342.1% during the 4th quarter. Asset Dedication LLC now owns 756 shares of the bank’s stock worth $58,000 after acquiring an additional 585 shares in the last quarter. 85.31% of the stock is owned by institutional investors and hedge funds.

Bank of New York Mellon Price Performance

Shares of BK opened at $88.86 on Friday. The company has a market cap of $64.60 billion, a P/E ratio of 15.29, a PEG ratio of 0.97 and a beta of 1.08. The stock has a fifty day moving average price of $83.02 and a 200 day moving average price of $77.21. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.69 and a quick ratio of 0.70. The Bank of New York Mellon Co. has a 12 month low of $52.64 and a 12 month high of $89.44.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings data on Wednesday, January 15th. The bank reported $1.72 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.18. The firm had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.66 billion. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. The firm’s revenue was up 11.2% on a year-over-year basis. During the same period in the prior year, the business earned $1.28 EPS. On average, research analysts forecast that The Bank of New York Mellon Co. will post 6.96 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The firm also recently declared 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 dividend on an annualized basis and a yield of 2.12%. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 32.36%.

Analyst Upgrades and Downgrades

BK has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft lifted their price objective on 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. UBS Group lifted their price objective on Bank of New York Mellon from $88.00 to $94.00 and gave the stock a “buy” rating in a report on Tuesday, January 21st. StockNews.com downgraded Bank of New York Mellon from a “buy” rating to a “hold” rating in a report on Wednesday, February 19th. Barclays lifted their price objective on Bank of New York Mellon from $102.00 to $104.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Finally, Truist Financial lifted their price objective on Bank of New York Mellon from $91.00 to $93.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $88.00.

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.