Lee Danner & Bass Inc. Acquires Shares of 1,165 The Bank of New York Mellon Co. (NYSE:BK)

Lee Danner & Bass Inc. purchased a new stake in The Bank of New York Mellon Co. (NYSE:BK) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 1,165 shares of the bank’s stock, valued at approximately $90,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Czech National Bank increased its stake in shares of Bank of New York Mellon by 4.9% in the 4th quarter. Czech National Bank now owns 157,645 shares of the bank’s stock valued at $12,112,000 after purchasing an additional 7,316 shares in the last quarter. HighTower Advisors LLC increased its stake in Bank of New York Mellon by 130.1% during the 3rd quarter. HighTower Advisors LLC now owns 326,372 shares of the bank’s stock worth $23,449,000 after buying an additional 184,560 shares in the last quarter. Transamerica Financial Advisors Inc. purchased a new stake in Bank of New York Mellon during the 3rd quarter worth approximately $1,010,000. Fifth Third Bancorp increased its stake in Bank of New York Mellon by 9.2% during the 4th quarter. Fifth Third Bancorp now owns 94,046 shares of the bank’s stock worth $7,226,000 after buying an additional 7,935 shares in the last quarter. Finally, Natixis Advisors LLC increased its stake in Bank of New York Mellon by 6.5% during the 4th quarter. Natixis Advisors LLC now owns 285,965 shares of the bank’s stock worth $21,971,000 after buying an additional 17,457 shares in the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on BK shares. Truist Financial boosted their price objective on Bank of New York Mellon from $91.00 to $93.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Evercore ISI boosted their price objective 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. Royal Bank of Canada restated a “sector perform” rating and set a $90.00 target price on shares of Bank of New York Mellon in a report on Monday, March 17th. Wolfe Research cut Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. Finally, Wells Fargo & Company boosted their target price on Bank of New York Mellon from $86.00 to $96.00 and gave the stock an “equal weight” rating in a report on Monday, March 3rd. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, Bank of New York Mellon currently has an average rating of “Moderate Buy” and a consensus price target of $89.50.

Bank of New York Mellon Trading Down 0.6 %

BK opened at $83.46 on Friday. The Bank of New York Mellon Co. has a one year low of $52.64 and a one year high of $90.34. The stock has a market capitalization of $59.92 billion, a PE ratio of 14.36, a P/E/G ratio of 0.97 and a beta of 1.06. The business’s 50 day moving average price is $84.88 and its 200 day moving average price is $79.02. 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 released its quarterly earnings data on Wednesday, January 15th. The bank reported $1.72 EPS for the quarter, beating analysts’ consensus estimates of $1.54 by $0.18. The firm had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.66 billion. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. The firm’s quarterly revenue was up 11.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.28 earnings per share. As a group, equities research analysts expect that The Bank of New York Mellon Co. will post 6.96 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Monday, January 27th were given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date was Monday, January 27th. Bank of New York Mellon’s payout ratio 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.