Segall Bryant & Hamill LLC Raises Stock Position in The Bank of New York Mellon Co. (NYSE:BK)

Segall Bryant & Hamill LLC increased its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK) by 642.8% in the fourth quarter, Holdings Channel reports. The firm owned 197,338 shares of the bank’s stock after acquiring an additional 170,772 shares during the period. Segall Bryant & Hamill LLC’s holdings in Bank of New York Mellon were worth $15,161,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Centricity Wealth Management LLC purchased a new stake in shares of Bank of New York Mellon in the fourth quarter worth about $39,000. TCTC Holdings LLC lifted its position in Bank of New York Mellon by 257.5% during the 4th quarter. TCTC Holdings LLC now owns 597 shares of the bank’s stock worth $46,000 after acquiring an additional 430 shares in the last quarter. Modus Advisors LLC acquired a new position in Bank of New York Mellon during the 4th quarter worth approximately $49,000. Friedenthal Financial purchased a new position in Bank of New York Mellon in the 4th quarter worth approximately $56,000. Finally, Asset Dedication LLC raised its stake in shares of Bank of New York Mellon by 342.1% during the fourth quarter. Asset Dedication LLC now owns 756 shares of the bank’s stock valued at $58,000 after purchasing an additional 585 shares during the period. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BK has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft upped their target price on shares of Bank of New York Mellon from $94.00 to $98.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Citigroup upped their price objective on shares of Bank of New York Mellon from $82.00 to $85.00 and gave the company a “neutral” rating in a research report on Monday. Wells Fargo & Company lifted 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 research report on Monday, March 3rd. Bank of America increased their price target on Bank of New York Mellon from $90.00 to $95.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Finally, Keefe, Bruyette & Woods lifted their price objective on Bank of New York Mellon from $87.00 to $96.00 and gave the stock an “outperform” rating in a report on Tuesday, December 3rd. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.71.

Bank of New York Mellon Stock Performance

Bank of New York Mellon stock opened at $85.21 on Wednesday. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.69 and a quick ratio of 0.70. The Bank of New York Mellon Co. has a 12 month low of $52.64 and a 12 month high of $90.34. The company has a fifty day moving average price of $85.24 and a two-hundred day moving average price of $79.35. The company has a market cap of $61.18 billion, a PE ratio of 14.67, a P/E/G ratio of 0.97 and a beta of 1.06.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings results on Wednesday, January 15th. The bank reported $1.72 EPS for the quarter, beating the consensus estimate of $1.54 by $0.18. The business had revenue of $4.85 billion during the quarter, compared to analyst estimates 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 quarterly revenue was up 11.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.28 EPS. Research analysts expect that The Bank of New York Mellon Co. will post 6.96 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Monday, January 27th were issued a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 2.21%. 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.