Savant Capital LLC Boosts Stock Position in The Bank of New York Mellon Co. (NYSE:BK)

Savant Capital LLC grew its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 1.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 49,733 shares of the bank’s stock after buying an additional 470 shares during the period. Savant Capital LLC’s holdings in Bank of New York Mellon were worth $3,821,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. United Advisor Group LLC purchased a new position in shares of Bank of New York Mellon during the 3rd quarter valued at about $595,000. Czech National Bank lifted its position in shares of 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 valued at $12,112,000 after buying an additional 7,316 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Bank of New York Mellon by 1.7% during the 3rd quarter. Principal Financial Group Inc. now owns 883,853 shares of the bank’s stock valued at $63,514,000 after buying an additional 14,916 shares in the last quarter. Chase Investment Counsel Corp lifted 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 lifted its holdings in Bank of New York Mellon by 130.1% in the 3rd quarter. HighTower Advisors LLC now owns 326,372 shares of the bank’s stock worth $23,449,000 after purchasing an additional 184,560 shares in the last quarter. 85.31% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Barclays boosted their price target on Bank of New York Mellon from $102.00 to $104.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Deutsche Bank Aktiengesellschaft boosted their price target on Bank of New York Mellon from $94.00 to $98.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. StockNews.com cut Bank of New York Mellon from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. UBS Group boosted their price target on Bank of New York Mellon from $88.00 to $94.00 and gave the stock a “buy” rating in a report on Tuesday, January 21st. Finally, Truist Financial boosted their price target on Bank of New York Mellon from $91.00 to $93.00 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 issued a buy rating to the company’s stock. According to data from MarketBeat.com, Bank of New York Mellon presently has a consensus rating of “Moderate Buy” and an average target price of $88.00.

Bank of New York Mellon Stock Up 0.6 %

Shares of BK opened at $85.56 on Wednesday. The stock has a market capitalization of $62.21 billion, a price-to-earnings ratio of 14.73, a price-to-earnings-growth ratio of 0.98 and a beta of 1.08. 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 business’s 50 day simple moving average is $80.77 and its 200-day simple moving average is $74.97. The Bank of New York Mellon Co. has a 1 year low of $52.64 and a 1 year high of $87.70.

Bank of New York Mellon (NYSE:BK) last released its earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share for the quarter, beating 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 return on equity of 12.68% and a net margin of 11.35%. The company’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 posted $1.28 EPS. As a group, equities analysts expect that The Bank of New York Mellon Co. will post 6.89 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 Friday, February 7th. Stockholders of record on Monday, January 27th were given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 2.20%. The ex-dividend date was Monday, January 27th. Bank of New York Mellon’s dividend payout ratio is currently 32.36%.

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.