Teamwork Financial Advisors LLC Takes Position in The Bank of New York Mellon Co. (NYSE:BK)

Teamwork Financial Advisors LLC purchased a new position in shares of The Bank of New York Mellon Co. (NYSE:BK) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 36,984 shares of the bank’s stock, valued at approximately $2,841,000.

Other large investors also recently bought and sold shares of the company. FMR LLC boosted its holdings in shares of Bank of New York Mellon by 78.6% during the 3rd quarter. FMR LLC now owns 19,338,722 shares of the bank’s stock worth $1,389,680,000 after purchasing an additional 8,512,404 shares during the last quarter. Wellington Management Group LLP lifted its position in Bank of New York Mellon by 2,707.1% during the third quarter. Wellington Management Group LLP now owns 3,258,967 shares of the bank’s stock worth $234,189,000 after buying an additional 3,142,869 shares in the last quarter. Zacks Investment Management acquired a new position in Bank of New York Mellon during the third quarter worth $62,589,000. State Street Corp grew its holdings in Bank of New York Mellon by 2.0% in the 3rd quarter. State Street Corp now owns 33,313,594 shares of the bank’s stock valued at $2,393,915,000 after buying an additional 659,096 shares in the last quarter. Finally, National Bank of Canada FI increased its stake in shares of Bank of New York Mellon by 248.3% in the 3rd quarter. National Bank of Canada FI now owns 858,831 shares of the bank’s stock worth $61,715,000 after acquiring an additional 612,287 shares during the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Stock Down 0.7 %

Shares of NYSE:BK opened at $84.33 on Thursday. The firm’s 50-day moving average is $79.23 and its two-hundred day moving average is $72.82. 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 1 year low of $52.64 and a 1 year high of $85.81. The firm has a market capitalization of $61.31 billion, a PE ratio of 14.51, a price-to-earnings-growth ratio of 0.97 and a beta of 1.08.

Bank of New York Mellon (NYSE:BK) last announced 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. The firm had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.66 billion. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The firm’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.28 EPS. Analysts predict that The Bank of New York Mellon Co. will post 6.86 EPS for the current year.

Bank of New York Mellon Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Monday, January 27th will be issued a dividend of $0.47 per share. The ex-dividend date of this dividend is Monday, January 27th. This represents a $1.88 annualized dividend and a yield of 2.23%. Bank of New York Mellon’s dividend payout ratio (DPR) is 32.36%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on BK. Wolfe Research lowered shares of Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. Truist Financial increased their price target on shares of 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 lifted their price target on shares of Bank of New York Mellon from $88.00 to $94.00 and gave the company a “buy” rating in a research report on Tuesday. JPMorgan Chase & Co. increased their price objective on Bank of New York Mellon from $69.00 to $77.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Finally, Bank of America lifted their target price on Bank of New York Mellon from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $88.00.

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.