KBC Group NV Has $134.61 Million Stock Holdings in The Bank of New York Mellon Co. (NYSE:BK)

KBC Group NV lessened its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 2.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,752,069 shares of the bank’s stock after selling 40,784 shares during the quarter. KBC Group NV owned approximately 0.24% of Bank of New York Mellon worth $134,611,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. McClarren Financial Advisors Inc. grew its position in shares of Bank of New York Mellon by 586.4% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 405 shares of the bank’s stock valued at $29,000 after buying an additional 346 shares during the last quarter. Fortitude Family Office LLC raised its stake in Bank of New York Mellon by 130.6% during the third quarter. Fortitude Family Office LLC now owns 611 shares of the bank’s stock worth $44,000 after buying an additional 346 shares during the last quarter. Grove Bank & Trust boosted its position in Bank of New York Mellon by 28.8% during the third quarter. Grove Bank & Trust now owns 644 shares of the bank’s stock valued at $46,000 after acquiring an additional 144 shares during the last quarter. Ashton Thomas Securities LLC acquired a new stake in Bank of New York Mellon during the 3rd quarter worth about $46,000. Finally, Modus Advisors LLC acquired a new position in shares of Bank of New York Mellon in the 4th quarter valued at about $49,000. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Bank of New York Mellon Trading Up 1.3 %

Shares of BK stock opened at $85.82 on Monday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.70 and a current ratio of 0.69. The company has a market capitalization of $62.39 billion, a price-to-earnings ratio of 14.77, a PEG ratio of 0.96 and a beta of 1.08. The Bank of New York Mellon Co. has a 52-week low of $52.64 and a 52-week high of $86.34. The company has a 50-day simple moving average of $79.53 and a two-hundred day simple moving average of $73.18.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings results on Wednesday, January 15th. The bank reported $1.72 EPS 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 company had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.66 billion. During the same period last year, the business posted $1.28 earnings per share. Bank of New York Mellon’s revenue was up 11.2% on a year-over-year basis. Research analysts anticipate that The Bank of New York Mellon Co. will post 6.86 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Monday, January 27th will be given 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 2.19%. Bank of New York Mellon’s payout ratio is currently 32.36%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on BK shares. Evercore ISI raised their target price on Bank of New York Mellon from $79.00 to $83.00 and gave the stock an “in-line” rating in a research note on Thursday, January 16th. JPMorgan Chase & Co. boosted their target price on shares of Bank of New York Mellon from $69.00 to $77.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Morgan Stanley raised 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. Bank of America upped their price objective on shares of Bank of New York Mellon from $90.00 to $95.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Bank of New York Mellon from $94.00 to $98.00 and gave the company a “buy” rating in a research note 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, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $88.00.

Bank of New York Mellon Company 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.