Murphy Middleton Hinkle & Parker Inc. Grows Stock Holdings in The Bank of New York Mellon Corporation $BK

Murphy Middleton Hinkle & Parker Inc. boosted its holdings in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 5,829.6% in the 4th quarter, Holdings Channel reports. The firm owned 142,191 shares of the bank’s stock after buying an additional 139,793 shares during the period. Bank of New York Mellon makes up approximately 4.7% of Murphy Middleton Hinkle & Parker Inc.’s portfolio, making the stock its 5th largest holding. Murphy Middleton Hinkle & Parker Inc.’s holdings in Bank of New York Mellon were worth $16,507,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Revolve Wealth Partners LLC bought a new position in shares of Bank of New York Mellon in the fourth quarter valued at $220,000. Sivia Capital Partners LLC grew its holdings in shares of Bank of New York Mellon by 36.6% in the 2nd quarter. Sivia Capital Partners LLC now owns 3,394 shares of the bank’s stock worth $309,000 after acquiring an additional 909 shares during the last quarter. AlphaCore Capital LLC acquired a new position in shares of Bank of New York Mellon in the 2nd quarter worth $71,000. Coldstream Capital Management Inc. raised its position in shares of Bank of New York Mellon by 33.5% during the second quarter. Coldstream Capital Management Inc. now owns 18,802 shares of the bank’s stock worth $1,713,000 after purchasing an additional 4,715 shares during the period. Finally, Global Retirement Partners LLC acquired a new stake in shares of Bank of New York Mellon during the second quarter worth $485,000. Institutional investors and hedge funds own 85.31% of the company’s stock.

Bank of New York Mellon Price Performance

NYSE BK opened at $116.39 on Tuesday. The company has a 50 day simple moving average of $119.04 and a 200-day simple moving average of $113.70. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.71 and a quick ratio of 0.71. The firm has a market capitalization of $80.11 billion, a price-to-earnings ratio of 15.71, a price-to-earnings-growth ratio of 1.07 and a beta of 1.10. The Bank of New York Mellon Corporation has a 52-week low of $70.46 and a 52-week high of $128.76.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings data on Friday, October 31st. The bank reported $1.91 EPS for the quarter. The firm had revenue of $5.07 billion for the quarter. Bank of New York Mellon had a net margin of 13.62% and a return on equity of 14.37%. Equities research analysts predict that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, February 5th. Shareholders of record on Friday, January 23rd were paid a dividend of $0.53 per share. The ex-dividend date of this dividend was Friday, January 23rd. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.8%. Bank of New York Mellon’s dividend payout ratio (DPR) is 28.61%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Morgan Stanley increased their price target on Bank of New York Mellon from $124.00 to $132.00 and gave the company an “overweight” rating in a research report on Wednesday, January 14th. Citigroup assumed coverage on Bank of New York Mellon in a report on Monday, February 23rd. They set a “neutral” rating on the stock. Royal Bank Of Canada upped their price objective on shares of Bank of New York Mellon from $124.00 to $130.00 and gave the company a “sector perform” rating in a research note on Wednesday, January 14th. TD Cowen raised their target price on shares of Bank of New York Mellon from $133.00 to $145.00 and gave the stock a “buy” rating in a report on Wednesday, January 7th. Finally, Wells Fargo & Company lifted their target price on shares of Bank of New York Mellon from $119.00 to $122.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 14th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Bank of New York Mellon has an average rating of “Moderate Buy” and a consensus target price of $131.92.

Bank of New York Mellon Profile

Bank of New York Mellon Corporation (BNY Mellon) is a global financial services company headquartered in New York City that provides a wide range of asset servicing, custody, and related financial infrastructure solutions to institutional clients. Its core businesses include custody and asset servicing, clearing and collateral management, treasury services, securities lending, corporate trust services, and depositary receipt administration. The company also offers investment management and advisory services through its asset management arm and provides technology-enabled solutions for trade processing, foreign exchange, and liquidity management.

BNY Mellon serves a broad client base that includes asset managers, pension funds, corporations, banks, broker-dealers and sovereign entities.