Yousif Capital Management LLC decreased its stake in The Bank of New York Mellon Co. (NYSE: BK) by 4.5% during the fourth quarter, according to the company's most recent filing with the Securities & Exchange Commission. The firm held 116,806 shares of the bank's stock after selling 5,541 shares during the period. Yousif Capital Management LLC's holdings in Bank of New York Mellon were worth $8,974,000 at the end of the most recent reporting period.
Several other hedge funds also recently adjusted their positions in BK. FMR LLC increased its holdings in Bank of New York Mellon by 78.6% in the third quarter. Wellington Management Group LLP raised its holdings in shares of Bank of New York Mellon by 2,707.1% in the 3rd quarter. Zacks Investment Management acquired a new position in shares of Bank of New York Mellon in the 3rd quarter. State Street Corp grew its holdings in shares of Bank of New York Mellon by 2.0% during the 3rd quarter. National Bank of Canada FI increased its position in Bank of New York Mellon by 248.3% during the 3rd quarter.
Several equities research analysts have issued reports on BK shares. Bank of America boosted their price objective on shares of Bank of New York Mellon from $90.00 to $95.00 and gave the stock a "buy" rating. UBS Group upped their price target on shares of Bank of New York Mellon from $88.00 to $94.00 and gave the stock a "buy" rating. Truist Financial raised their price objective on Bank of New York Mellon from $91.00 to $93.00 and gave the company a "buy" rating. Citigroup upped their target price on Bank of New York Mellon from $75.00 to $82.00 and gave the stock a "neutral" rating. Evercore ISI raised their target price on Bank of New York Mellon from $79.00 to $83.00 and gave the company an "in-line" rating. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $88.00.
Shares of BK stock opened at $85.79 on Thursday. The stock has a market capitalization of $62.38 billion, a price-to-earnings ratio of 14.77, a PEG ratio of 0.98 and a beta of 1.08. The Bank of New York Mellon Co. has a one year low of $52.64 and a one year high of $87.70. The company's 50-day simple moving average is $80.44 and its 200-day simple moving average is $74.35. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.70 and a current ratio of 0.69.
Bank of New York Mellon (NYSE: BK) last issued its quarterly earnings results 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. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. The business had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.66 billion. During the same period in the previous year, the business earned $1.28 EPS. The business's quarterly revenue was up 11.2% on a year-over-year basis. Equities analysts anticipate that The Bank of New York Mellon Co. will post 6.86 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Monday, January 27th will be issued a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 2.19%. The ex-dividend date is Monday, January 27th. Bank of New York Mellon's dividend payout ratio (DPR) is presently 32.36%.
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.