Western Financial Corp CA Purchases Shares of 4,454 The Bank of New York Mellon Co. (NYSE:BK)

Western Financial Corp CA 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 Form 13F filing with the Securities & Exchange Commission. The fund acquired 4,454 shares of the bank’s stock, valued at approximately $342,000.

A number of other large investors have also recently made changes to their positions in BK. McClarren Financial Advisors Inc. lifted its holdings in Bank of New York Mellon by 586.4% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 405 shares of the bank’s stock worth $29,000 after buying an additional 346 shares during the last quarter. Fortitude Family Office LLC lifted its stake in Bank of New York Mellon by 130.6% during the third quarter. Fortitude Family Office LLC now owns 611 shares of the bank’s stock worth $44,000 after purchasing an additional 346 shares during the last quarter. Grove Bank & Trust boosted its holdings in Bank of New York Mellon by 28.8% in the third quarter. Grove Bank & Trust now owns 644 shares of the bank’s stock valued at $46,000 after purchasing an additional 144 shares in the last quarter. Ashton Thomas Securities LLC purchased a new position in Bank of New York Mellon in the third quarter valued at approximately $46,000. Finally, Modus Advisors LLC acquired a new stake in Bank of New York Mellon during the fourth quarter worth approximately $49,000. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on BK shares. Barclays increased their target price on shares of Bank of New York Mellon from $102.00 to $104.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. 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 boosted their target price 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. Evercore ISI raised their price target 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. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Bank of New York Mellon from $94.00 to $98.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, Bank of New York Mellon has a consensus rating of “Moderate Buy” and a consensus target price of $88.00.

Bank of New York Mellon Stock Down 0.6 %

Shares of NYSE:BK opened at $86.01 on Friday. The company has a market cap of $62.53 billion, a price-to-earnings ratio of 14.80, a PEG ratio of 0.98 and a beta of 1.08. The Bank of New York Mellon Co. has a fifty-two week low of $52.64 and a fifty-two week high of $87.70. The firm’s 50-day simple moving average is $80.29 and its 200-day simple moving average is $73.91. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.83.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings data on Wednesday, January 15th. The bank reported $1.72 earnings per share for the quarter, beating analysts’ consensus estimates of $1.54 by $0.18. The company had revenue of $4.85 billion for the quarter, compared to analyst estimates 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 for the quarter was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.28 EPS. As a group, equities research analysts predict that The Bank of New York Mellon Co. will post 6.86 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Monday, January 27th will be given a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 2.19%. The ex-dividend date is Monday, January 27th. Bank of New York Mellon’s payout ratio is 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.