Empirical Finance LLC Has $1.97 Million Position in The Bank of New York Mellon Co. (NYSE:BK)

Empirical Finance LLC trimmed its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 1.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,666 shares of the bank’s stock after selling 374 shares during the quarter. Empirical Finance LLC’s holdings in Bank of New York Mellon were worth $1,972,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. United Advisor Group LLC acquired a new position in shares of Bank of New York Mellon during the third quarter worth $595,000. Czech National Bank grew its position in Bank of New York Mellon by 4.9% during the 4th quarter. Czech National Bank now owns 157,645 shares of the bank’s stock worth $12,112,000 after acquiring an additional 7,316 shares during the last quarter. Principal Financial Group Inc. increased its holdings in Bank of New York Mellon by 1.7% in the 3rd quarter. Principal Financial Group Inc. now owns 883,853 shares of the bank’s stock worth $63,514,000 after purchasing an additional 14,916 shares in the last quarter. Chase Investment Counsel Corp increased its holdings in Bank of New York Mellon by 67.2% in the 3rd quarter. Chase Investment Counsel Corp now owns 83,530 shares of the bank’s stock worth $6,002,000 after purchasing an additional 33,558 shares in the last quarter. Finally, HighTower Advisors LLC raised its position in Bank of New York Mellon by 130.1% in the third quarter. HighTower Advisors LLC now owns 326,372 shares of the bank’s stock valued at $23,449,000 after purchasing an additional 184,560 shares during the last quarter. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Stock Performance

Shares of BK stock opened at $86.15 on Monday. The firm has a 50 day moving average of $80.70 and a 200-day moving average of $74.75. The company has a market cap of $62.64 billion, a price-to-earnings ratio of 14.83, a price-to-earnings-growth ratio of 0.98 and a beta of 1.08. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.83. The Bank of New York Mellon Co. has a 52 week low of $52.64 and a 52 week high of $87.70.

Bank of New York Mellon (NYSE:BK) last posted 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 business had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.66 billion. During the same period last year, the company posted $1.28 earnings per share. The business’s quarterly revenue was up 11.2% on a year-over-year basis. On average, equities analysts forecast that The Bank of New York Mellon Co. will post 6.89 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Monday, January 27th were paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date of this dividend was Monday, January 27th. Bank of New York Mellon’s dividend payout ratio (DPR) is currently 32.36%.

Analyst Ratings Changes

BK has been the subject of several recent research reports. 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 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 report on Thursday, January 16th. Morgan Stanley lifted their price target on shares of Bank of New York Mellon from $90.00 to $97.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. StockNews.com downgraded Bank of New York Mellon from a “buy” rating to a “hold” rating in a report on Thursday. Finally, Bank of America lifted their target price on Bank of New York Mellon from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Six investment 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 has a consensus rating of “Moderate Buy” and a consensus target price of $88.00.

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.