Greystone Financial Group LLC Has $12.08 Million Position in The Bank of New York Mellon Co. (NYSE:BK)

Greystone Financial Group LLC grew its stake in The Bank of New York Mellon Co. (NYSE:BK) by 2.4% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 157,219 shares of the bank’s stock after buying an additional 3,615 shares during the period. Bank of New York Mellon makes up 2.1% of Greystone Financial Group LLC’s investment portfolio, making the stock its 17th biggest position. Greystone Financial Group LLC’s holdings in Bank of New York Mellon were worth $12,079,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in BK. Studio Investment Management LLC grew its stake in shares of Bank of New York Mellon by 2.1% in the 3rd quarter. Studio Investment Management LLC now owns 6,636 shares of the bank’s stock worth $477,000 after acquiring an additional 134 shares in the last quarter. Grove Bank & Trust grew its position in Bank of New York Mellon by 21.0% during the fourth quarter. Grove Bank & Trust now owns 779 shares of the bank’s stock valued at $60,000 after buying an additional 135 shares during the period. Avidian Wealth Enterprises LLC increased its holdings in Bank of New York Mellon by 2.0% during the third quarter. Avidian Wealth Enterprises LLC now owns 7,024 shares of the bank’s stock worth $505,000 after buying an additional 137 shares during the last quarter. Valeo Financial Advisors LLC increased its holdings in Bank of New York Mellon by 1.6% during the fourth quarter. Valeo Financial Advisors LLC now owns 9,041 shares of the bank’s stock worth $695,000 after buying an additional 139 shares during the last quarter. Finally, Frank Rimerman Advisors LLC raised its position in Bank of New York Mellon by 1.1% in the third quarter. Frank Rimerman Advisors LLC now owns 12,908 shares of the bank’s stock worth $928,000 after acquiring an additional 142 shares during the period. 85.31% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

BK has been the subject of a number of research reports. Truist Financial increased their target price on shares of Bank of New York Mellon from $91.00 to $93.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Evercore ISI increased their price objective on Bank of New York Mellon from $79.00 to $83.00 and gave the company an “in-line” rating in a report on Thursday, January 16th. Wells Fargo & Company upped their price target on Bank of New York Mellon from $82.00 to $86.00 and gave the company an “equal weight” rating in a research report on Thursday, January 16th. Citigroup increased their price target on Bank of New York Mellon from $75.00 to $82.00 and gave the stock a “neutral” rating in a research note on Monday, November 25th. Finally, StockNews.com cut Bank of New York Mellon from a “buy” rating to a “hold” rating in a research note on Wednesday. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $88.00.

Bank of New York Mellon Trading Up 0.1 %

Shares of BK opened at $87.29 on Friday. The Bank of New York Mellon Co. has a twelve month low of $52.64 and a twelve month high of $89.44. The stock has a market cap of $63.46 billion, a PE ratio of 15.02, a P/E/G ratio of 1.00 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 business’s 50-day moving average price is $82.04 and its 200-day moving average price is $76.26.

Bank of New York Mellon (NYSE:BK) last posted its earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share for the quarter, topping analysts’ consensus estimates of $1.54 by $0.18. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The business had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.66 billion. During the same quarter in the prior year, the firm posted $1.28 EPS. Bank of New York Mellon’s revenue was up 11.2% on a year-over-year basis. On average, equities analysts forecast that The Bank of New York Mellon Co. will post 6.93 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Monday, January 27th were issued a $0.47 dividend. The ex-dividend date of this dividend was Monday, January 27th. This represents a $1.88 annualized dividend and a dividend yield of 2.15%. Bank of New York Mellon’s 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.