Concurrent Investment Advisors LLC Buys 33,546 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Concurrent Investment Advisors LLC raised its stake in The Bank of New York Mellon Co. (NYSE:BK) by 465.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 40,756 shares of the bank’s stock after acquiring an additional 33,546 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Bank of New York Mellon were worth $3,131,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in BK. Blue Trust Inc. lifted its holdings in shares of Bank of New York Mellon by 95.4% in the third quarter. Blue Trust Inc. now owns 1,673 shares of the bank’s stock worth $120,000 after acquiring an additional 817 shares during the last quarter. Foundations Investment Advisors LLC lifted its holdings in shares of Bank of New York Mellon by 10.8% in the third quarter. Foundations Investment Advisors LLC now owns 9,302 shares of the bank’s stock worth $668,000 after acquiring an additional 909 shares during the last quarter. Sequoia Financial Advisors LLC lifted its holdings in shares of Bank of New York Mellon by 186.0% in the third quarter. Sequoia Financial Advisors LLC now owns 50,613 shares of the bank’s stock worth $3,637,000 after acquiring an additional 32,914 shares during the last quarter. Signaturefd LLC lifted its holdings in shares of Bank of New York Mellon by 1.1% in the third quarter. Signaturefd LLC now owns 14,386 shares of the bank’s stock worth $1,034,000 after acquiring an additional 157 shares during the last quarter. Finally, Eastern Bank bought a new position in shares of Bank of New York Mellon in the third quarter worth about $67,000. Institutional investors own 85.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on BK shares. UBS Group increased their target price on shares of 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. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Bank of New York Mellon from $94.00 to $98.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Truist Financial raised their price objective on shares of Bank of New York Mellon from $91.00 to $93.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Barclays raised their price objective on shares of Bank of New York Mellon from $102.00 to $104.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Finally, Wolfe Research lowered shares of Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $88.00.

Bank of New York Mellon Stock Performance

NYSE:BK opened at $87.20 on Friday. The company has a market capitalization of $63.40 billion, a PE ratio of 15.01, a P/E/G ratio of 1.01 and a beta of 1.08. The company has a 50 day simple moving average of $81.87 and a two-hundred day simple moving average of $76.08. 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 Bank of New York Mellon Co. has a fifty-two week low of $52.64 and a fifty-two week high of $89.44.

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 analysts’ consensus estimates of $1.54 by $0.18. The business had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.66 billion. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The company’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.28 EPS. Research analysts anticipate that The Bank of New York Mellon Co. will post 6.93 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The business also recently disclosed 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 2.16%. The ex-dividend date of this dividend was Monday, January 27th. Bank of New York Mellon’s dividend payout ratio (DPR) is 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.