Donoghue Forlines LLC Takes $3.56 Million Position in The Bank of New York Mellon Co. (NYSE:BK)

Donoghue Forlines LLC purchased a new stake in The Bank of New York Mellon Co. (NYSE:BK) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 46,265 shares of the bank’s stock, valued at approximately $3,555,000. Bank of New York Mellon accounts for 1.2% of Donoghue Forlines LLC’s investment portfolio, making the stock its 8th biggest position.

A number of other institutional investors have also made changes to their positions in BK. Avior Wealth Management LLC grew its holdings in shares of Bank of New York Mellon by 33.4% in the 4th quarter. Avior Wealth Management LLC now owns 5,940 shares of the bank’s stock valued at $456,000 after buying an additional 1,488 shares during the period. Endeavor Private Wealth Inc. bought a new position in shares of Bank of New York Mellon during the 4th quarter valued at about $204,000. Bill Few Associates Inc. grew its position in shares of Bank of New York Mellon by 75.4% in the 4th quarter. Bill Few Associates Inc. now owns 5,917 shares of the bank’s stock valued at $455,000 after purchasing an additional 2,543 shares during the period. Teamwork Financial Advisors LLC bought a new stake in Bank of New York Mellon during the 4th quarter worth approximately $2,841,000. Finally, Wesbanco Bank Inc. raised its holdings in Bank of New York Mellon by 3.7% during the 4th quarter. Wesbanco Bank Inc. now owns 8,398 shares of the bank’s stock worth $645,000 after buying an additional 297 shares during the period. 85.31% of the stock is owned by institutional investors and hedge funds.

Bank of New York Mellon Price Performance

BK stock opened at $84.38 on Thursday. The company has a market capitalization of $61.35 billion, a P/E ratio of 14.53, a price-to-earnings-growth ratio of 0.97 and a beta of 1.08. The Bank of New York Mellon Co. has a 52-week low of $52.64 and a 52-week high of $85.81. The business has a 50-day simple moving average of $79.23 and a two-hundred day simple moving average of $72.82. 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 results on Wednesday, January 15th. The bank reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.18. The business had revenue of $4.85 billion for 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%. The firm’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.28 earnings per share. Research analysts expect that The Bank of New York Mellon Co. will post 6.86 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Monday, January 27th will be issued a dividend of $0.47 per share. The ex-dividend date of this dividend is Monday, January 27th. This represents a $1.88 dividend on an annualized basis and a yield of 2.23%. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 32.36%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on BK. JPMorgan Chase & Co. boosted their price objective on shares of Bank of New York Mellon from $69.00 to $77.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Royal Bank of Canada restated a “sector perform” rating and set a $79.00 price objective on shares of Bank of New York Mellon in a research note on Monday, October 14th. Barclays raised their target price on shares of Bank of New York Mellon from $102.00 to $104.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Morgan Stanley raised their price objective on shares of Bank of New York Mellon from $90.00 to $97.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Finally, Truist Financial upped their price objective on Bank of New York Mellon from $91.00 to $93.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.