PKS Advisory Services LLC Acquires Shares of 26,221 The Bank of New York Mellon Co. (NYSE:BK)

PKS Advisory Services LLC bought a new position in The Bank of New York Mellon Co. (NYSE:BK) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 26,221 shares of the bank’s stock, valued at approximately $2,015,000.

Several other hedge funds have also modified their holdings of BK. Prospera Financial Services Inc lifted its holdings in Bank of New York Mellon by 11.4% in the 3rd quarter. Prospera Financial Services Inc now owns 5,294 shares of the bank’s stock worth $381,000 after buying an additional 542 shares in the last quarter. Nwam LLC purchased a new position in Bank of New York Mellon in the third quarter valued at about $245,000. Great Valley Advisor Group Inc. acquired a new stake in Bank of New York Mellon during the 3rd quarter valued at approximately $219,000. Cerity Partners LLC increased its holdings in Bank of New York Mellon by 58.3% during the 3rd quarter. Cerity Partners LLC now owns 52,982 shares of the bank’s stock worth $3,807,000 after purchasing an additional 19,518 shares during the last quarter. Finally, Kingsview Wealth Management LLC raised its position in shares of Bank of New York Mellon by 129.0% in the 3rd quarter. Kingsview Wealth Management LLC now owns 13,380 shares of the bank’s stock valued at $961,000 after purchasing an additional 7,537 shares in the last quarter. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Bank of New York Mellon Trading Up 1.4 %

NYSE:BK opened at $84.76 on Tuesday. The Bank of New York Mellon Co. has a 1 year low of $52.64 and a 1 year high of $90.34. The business has a fifty day moving average of $85.06 and a 200-day moving average of $79.22. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.70 and a current ratio of 0.69. The stock has a market cap of $60.86 billion, a price-to-earnings ratio of 14.59, a PEG ratio of 0.97 and a beta of 1.06.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings results on Wednesday, January 15th. The bank reported $1.72 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.18. 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 $4.85 billion for the quarter, compared to the consensus estimate of $4.66 billion. During the same period in the previous year, the firm earned $1.28 EPS. Bank of New York Mellon’s revenue was up 11.2% on a year-over-year basis. Equities analysts predict that The Bank of New York Mellon Co. will post 6.96 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Monday, January 27th were issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 2.22%. The ex-dividend date was Monday, January 27th. Bank of New York Mellon’s dividend payout ratio is currently 32.36%.

Wall Street Analyst Weigh In

BK has been the topic of several recent analyst reports. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $90.00 price target on shares of Bank of New York Mellon in a report on Monday, March 17th. Wolfe Research downgraded Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a research note 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 research note on Thursday, January 16th. UBS Group boosted their price target 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. Finally, Evercore ISI raised their price objective on Bank of New York Mellon from $79.00 to $83.00 and gave the stock an “in-line” rating in a research note 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. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $89.71.

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.