Mezzasalma Advisors LLC Purchases 1,081 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Mezzasalma Advisors LLC boosted its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 24.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,561 shares of the bank’s stock after acquiring an additional 1,081 shares during the period. Mezzasalma Advisors LLC’s holdings in Bank of New York Mellon were worth $427,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of BK. Realta Investment Advisors bought a new stake in Bank of New York Mellon during the 4th quarter valued at approximately $474,000. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of Bank of New York Mellon by 9.3% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 82,792 shares of the bank’s stock worth $6,361,000 after buying an additional 7,029 shares during the last quarter. Argus Investors Counsel Inc. acquired a new position in shares of Bank of New York Mellon during the fourth quarter worth approximately $584,000. Bleakley Financial Group LLC grew its stake in shares of Bank of New York Mellon by 5.4% in the fourth quarter. Bleakley Financial Group LLC now owns 11,244 shares of the bank’s stock worth $864,000 after acquiring an additional 580 shares during the last quarter. Finally, Choreo LLC grew its stake in shares of Bank of New York Mellon by 6.8% in the fourth quarter. Choreo LLC now owns 52,913 shares of the bank’s stock worth $4,077,000 after acquiring an additional 3,374 shares during the last quarter. 85.31% of the stock is currently owned by institutional investors.

Bank of New York Mellon Trading Down 0.3 %

Shares of Bank of New York Mellon stock opened at $86.15 on Friday. The stock has a market capitalization of $62.64 billion, a P/E ratio of 14.83, a price-to-earnings-growth ratio of 0.98 and a beta of 1.08. The Bank of New York Mellon Co. has a 12-month low of $52.64 and a 12-month high of $87.70. 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 company has a 50-day simple moving average of $80.61 and a 200 day simple moving average of $74.51.

Bank of New York Mellon (NYSE:BK) last posted its earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.54 by $0.18. The company had revenue of $4.85 billion during the quarter, compared to analysts’ expectations 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 quarterly revenue was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.28 earnings per share. Research analysts expect that The Bank of New York Mellon Co. will post 6.86 earnings per share for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The business also recently announced 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. The ex-dividend date was Monday, January 27th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.18%. Bank of New York Mellon’s payout ratio is 32.36%.

Analysts Set New Price Targets

A number of analysts have weighed in on BK shares. Deutsche Bank Aktiengesellschaft increased their price target 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. UBS Group increased their target price on shares of Bank of New York Mellon from $88.00 to $94.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. Royal Bank of Canada restated a “sector perform” rating and set a $79.00 price target on shares of Bank of New York Mellon in a research note on Monday, October 14th. Wells Fargo & Company raised their price objective on Bank of New York Mellon from $82.00 to $86.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 16th. Finally, Truist Financial boosted 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 report on Thursday, January 16th. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $88.00.

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.