Inlet Private Wealth LLC Has $2.26 Million Stake in The Bank of New York Mellon Co. (NYSE:BK)

Inlet Private Wealth LLC lowered its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 19.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 29,450 shares of the bank’s stock after selling 7,100 shares during the quarter. Inlet Private Wealth LLC’s holdings in Bank of New York Mellon were worth $2,263,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Bank of New York Mellon by 2.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 37,093 shares of the bank’s stock valued at $2,221,000 after purchasing an additional 1,023 shares in the last quarter. NewEdge Advisors LLC raised its position in Bank of New York Mellon by 66.8% in the 2nd quarter. NewEdge Advisors LLC now owns 28,596 shares of the bank’s stock valued at $1,713,000 after buying an additional 11,457 shares during the last quarter. EP Wealth Advisors LLC bought a new position in Bank of New York Mellon during the 2nd quarter valued at $234,000. Sanctuary Advisors LLC purchased a new position in Bank of New York Mellon during the 2nd quarter worth $5,234,000. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of Bank of New York Mellon by 0.9% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 387,500 shares of the bank’s stock worth $23,207,000 after acquiring an additional 3,500 shares in the last quarter. Institutional investors own 85.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on BK shares. Wolfe Research lowered shares of Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. Keefe, Bruyette & Woods lifted their target price on shares of Bank of New York Mellon from $87.00 to $96.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. JPMorgan Chase & Co. upped their target price on Bank of New York Mellon from $69.00 to $77.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Barclays lifted 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. Finally, Truist Financial upped their price objective on 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. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $88.00.

Bank of New York Mellon Price Performance

BK opened at $86.01 on Friday. The company has a market capitalization of $62.53 billion, a price-to-earnings ratio of 14.80, a PEG 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 firm has a 50-day moving average price of $80.29 and a 200-day moving average price of $73.91. The Bank of New York Mellon Co. has a twelve month low of $52.64 and a twelve month high of $87.70.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings data 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. The business had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.66 billion. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. Bank of New York Mellon’s revenue was up 11.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.28 EPS. Equities analysts expect that The Bank of New York Mellon Co. will post 6.86 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Investors 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 dividend on an annualized basis and a yield of 2.19%. Bank of New York Mellon’s dividend payout ratio (DPR) is 32.36%.

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.