OFI Invest Asset Management Takes Position in The Bank of New York Mellon Co. (NYSE:BK)

OFI Invest Asset Management bought a new stake in The Bank of New York Mellon Co. (NYSE:BK) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 28,738 shares of the bank’s stock, valued at approximately $2,132,000.

A number of other institutional investors have also modified their holdings of the stock. Centricity Wealth Management LLC acquired a new stake in Bank of New York Mellon during the fourth quarter worth about $39,000. Ashton Thomas Securities LLC acquired a new stake in Bank of New York Mellon during the third quarter worth about $46,000. Modus Advisors LLC acquired a new stake in Bank of New York Mellon during the fourth quarter worth about $49,000. Friedenthal Financial acquired a new stake in Bank of New York Mellon during the fourth quarter worth about $56,000. Finally, Asset Dedication LLC raised its stake in Bank of New York Mellon by 342.1% during the fourth quarter. Asset Dedication LLC now owns 756 shares of the bank’s stock worth $58,000 after acquiring an additional 585 shares during the period. Institutional investors and hedge funds own 85.31% of the company’s stock.

Bank of New York Mellon Stock Performance

NYSE:BK opened at $85.98 on Monday. The Bank of New York Mellon Co. has a 1 year low of $52.64 and a 1 year high of $90.34. The firm’s fifty day simple moving average is $83.85 and its 200 day simple moving average is $78.03. The company has a current ratio of 0.69, a quick ratio of 0.70 and a debt-to-equity ratio of 0.83. The firm has a market capitalization of $61.73 billion, a PE ratio of 14.80, a PEG ratio of 0.97 and a beta of 1.06.

Bank of New York Mellon (NYSE:BK) last posted its earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share (EPS) for the quarter, beating 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 business had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.66 billion. During the same period last year, the business posted $1.28 EPS. Bank of New York Mellon’s revenue was up 11.2% compared to the same quarter last year. On average, sell-side analysts anticipate that The Bank of New York Mellon Co. will post 6.96 EPS for the current year.

Bank of New York Mellon Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Monday, January 27th were given a $0.47 dividend. The ex-dividend date of this dividend was Monday, January 27th. This represents a $1.88 annualized dividend and a yield of 2.19%. Bank of New York Mellon’s dividend payout ratio is 32.36%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on BK shares. UBS Group increased their price objective on shares of Bank of New York Mellon from $88.00 to $94.00 and gave the stock a “buy” rating in a research note on Tuesday, January 21st. StockNews.com cut shares of Bank of New York Mellon from a “buy” rating to a “hold” rating in a report on Wednesday, February 19th. Wells Fargo & Company increased their price objective on shares of Bank of New York Mellon from $86.00 to $96.00 and gave the company an “equal weight” rating in a report on Monday, March 3rd. Keefe, Bruyette & Woods increased their target price on shares of Bank of New York Mellon from $87.00 to $96.00 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. Finally, Morgan Stanley increased their target price on shares of Bank of New York Mellon from $90.00 to $97.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $88.71.

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.