Grove Bank & Trust Has $60,000 Stock Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Grove Bank & Trust raised its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 21.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 779 shares of the bank’s stock after acquiring an additional 135 shares during the quarter. Grove Bank & Trust’s holdings in Bank of New York Mellon were worth $60,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. McClarren Financial Advisors Inc. lifted its stake in Bank of New York Mellon by 586.4% in the third quarter. McClarren Financial Advisors Inc. now owns 405 shares of the bank’s stock valued at $29,000 after acquiring an additional 346 shares during the last quarter. Fortitude Family Office LLC lifted its stake in Bank of New York Mellon by 130.6% in the third quarter. Fortitude Family Office LLC now owns 611 shares of the bank’s stock valued at $44,000 after acquiring an additional 346 shares during the last quarter. Modus Advisors LLC bought a new position in shares of Bank of New York Mellon in the fourth quarter valued at approximately $49,000. Ashton Thomas Securities LLC bought a new position in shares of Bank of New York Mellon in the third quarter valued at approximately $46,000. Finally, Friedenthal Financial bought a new position in shares of Bank of New York Mellon in the fourth quarter valued at approximately $56,000. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently commented on BK. Wells Fargo & Company lifted their price target on shares of 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. Deutsche Bank Aktiengesellschaft lifted 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 research report on Thursday, January 16th. Truist Financial lifted their price target 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. Barclays lifted their price target on shares of Bank of New York Mellon from $102.00 to $104.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Finally, StockNews.com lowered shares of Bank of New York Mellon from a “buy” rating to a “hold” rating in a research report on Thursday, January 16th. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, Bank of New York Mellon currently has a consensus rating of “Moderate Buy” and an average price target of $87.14.

Bank of New York Mellon Stock Up 1.3 %

BK opened at $83.31 on Tuesday. The Bank of New York Mellon Co. has a fifty-two week low of $52.64 and a fifty-two week high of $83.67. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.70 and a quick ratio of 0.70. The firm’s fifty day moving average price is $78.87 and its two-hundred day moving average price is $72.41. The company has a market capitalization of $60.57 billion, a P/E ratio of 18.11, a P/E/G ratio of 0.76 and a beta of 1.08.

Bank of New York Mellon (NYSE:BK) last posted its quarterly 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 9.44% and a return on equity of 12.06%. The firm had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.66 billion. During the same quarter in the previous year, the company earned $1.28 earnings per share. The business’s revenue was up 11.2% compared to the same quarter last year. On average, analysts anticipate that The Bank of New York Mellon Co. will post 5.87 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Monday, January 27th will be given a dividend of $0.47 per share. The ex-dividend date is Monday, January 27th. This represents a $1.88 annualized dividend and a yield of 2.26%. Bank of New York Mellon’s dividend payout ratio (DPR) is 40.87%.

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.