2,716 Shares in The Bank of New York Mellon Co. (NYSE:BK) Bought by Napatree Capital LLC

Napatree Capital LLC acquired a new position in shares of The Bank of New York Mellon Co. (NYSE:BK) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 2,716 shares of the bank’s stock, valued at approximately $209,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Centricity Wealth Management LLC bought a new position in shares of Bank of New York Mellon in the fourth quarter worth $39,000. TCTC Holdings LLC grew its stake in shares of Bank of New York Mellon by 257.5% in the fourth quarter. TCTC Holdings LLC now owns 597 shares of the bank’s stock worth $46,000 after purchasing an additional 430 shares in the last quarter. Modus Advisors LLC bought a new position in shares of Bank of New York Mellon in the fourth quarter worth $49,000. Friedenthal Financial bought a new position in shares of Bank of New York Mellon in the fourth quarter worth $56,000. Finally, Asset Dedication LLC grew its stake in shares of Bank of New York Mellon by 342.1% in the fourth quarter. Asset Dedication LLC now owns 756 shares of the bank’s stock worth $58,000 after purchasing an additional 585 shares in the last quarter. 85.31% of the stock is currently owned by institutional investors.

Bank of New York Mellon Stock Performance

Shares of BK stock opened at $83.46 on Monday. 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 fifty-two week low of $52.64 and a fifty-two week high of $90.34. The stock’s 50-day moving average is $84.88 and its two-hundred day moving average is $79.10. The firm has a market cap of $59.92 billion, a P/E ratio of 14.36, a PEG ratio of 0.97 and a beta of 1.06.

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 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 company had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.66 billion. During the same period in the prior year, the firm posted $1.28 EPS. The business’s revenue was up 11.2% compared to the same quarter last year. 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Monday, January 27th were issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date of this dividend was Monday, January 27th. Bank of New York Mellon’s dividend payout ratio is 32.36%.

Wall Street Analyst Weigh In

BK has been the subject of several research analyst reports. Evercore ISI upped their price objective on Bank of New York Mellon from $79.00 to $83.00 and gave the company an “in-line” rating in a report on Thursday, January 16th. Keefe, Bruyette & Woods upped their price objective on Bank of New York Mellon from $87.00 to $96.00 and gave the company an “outperform” rating in a report on Tuesday, December 3rd. Wolfe Research lowered Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. Truist Financial upped their price objective 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. Finally, UBS Group upped their price objective on Bank of New York Mellon from $88.00 to $94.00 and gave the company a “buy” rating in a report on Tuesday, January 21st. Six equities research 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, Bank of New York Mellon has a consensus rating of “Moderate Buy” and an average target price of $89.50.

About Bank of New York Mellon

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.