Centaurus Financial Inc. Grows Position in The Bank of New York Mellon Co. (NYSE:BK)

Posted by Defense World Staff on Mar 20th, 2023

Centaurus Financial Inc. boosted its position in The Bank of New York Mellon Co. (NYSE:BK – Get Rating) by 44.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,720 shares of the bank’s stock after purchasing an additional 1,754 shares during the period. Centaurus Financial Inc.’s holdings in Bank of New York Mellon were worth $220,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. St. James Investment Advisors LLC lifted its position in shares of Bank of New York Mellon by 3.3% during the 3rd quarter. St. James Investment Advisors LLC now owns 7,510 shares of the bank’s stock valued at $289,000 after buying an additional 240 shares in the last quarter. Laurel Wealth Advisors Inc. increased its stake in Bank of New York Mellon by 1.7% in the 1st quarter. Laurel Wealth Advisors Inc. now owns 14,451 shares of the bank’s stock worth $717,000 after acquiring an additional 245 shares during the last quarter. Ronald Blue Trust Inc. increased its stake in Bank of New York Mellon by 25.0% in the 3rd quarter. Ronald Blue Trust Inc. now owns 1,346 shares of the bank’s stock worth $57,000 after acquiring an additional 269 shares during the last quarter. Penserra Capital Management LLC increased its stake in Bank of New York Mellon by 8.4% in the 1st quarter. Penserra Capital Management LLC now owns 3,631 shares of the bank’s stock worth $180,000 after acquiring an additional 282 shares during the last quarter. Finally, Neuberger Berman Group LLC boosted its holdings in shares of Bank of New York Mellon by 0.6% in the 1st quarter. Neuberger Berman Group LLC now owns 45,900 shares of the bank’s stock worth $2,278,000 after purchasing an additional 288 shares during the period. 82.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Barclays lifted their target price on Bank of New York Mellon from $57.00 to $64.00 and gave the stock an “overweight” rating in a report on Tuesday, January 3rd. StockNews.com assumed coverage on Bank of New York Mellon in a report on Thursday. They issued a “hold” rating for the company. Bank of America assumed coverage on Bank of New York Mellon in a report on Thursday, January 12th. They issued a “buy” rating and a $56.00 target price for the company. Morgan Stanley lifted their target price on Bank of New York Mellon from $47.00 to $49.00 and gave the stock an “underweight” rating in a report on Wednesday, February 1st. Finally, The Goldman Sachs Group upgraded Bank of New York Mellon from a “neutral” rating to a “buy” rating and set a $59.00 target price for the company in a report on Wednesday, January 4th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $52.19.

Bank of New York Mellon Price Performance

Shares of BK stock opened at $42.58 on Monday. The Bank of New York Mellon Co. has a twelve month low of $36.22 and a twelve month high of $53.63. The stock has a market capitalization of $34.05 billion, a price-to-earnings ratio of 14.68, a P/E/G ratio of 1.15 and a beta of 1.11. The stock has a fifty day simple moving average of $49.53 and a two-hundred day simple moving average of $45.25. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.86.

Bank of New York Mellon (NYSE:BK – Get Rating) last issued its earnings results on Friday, January 13th. The bank reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.08. Bank of New York Mellon had a return on equity of 10.78% and a net margin of 12.87%. The business had revenue of $3.92 billion during the quarter, compared to analysts’ expectations of $4.12 billion. During the same period in the prior year, the business earned $1.04 EPS. The business’s revenue for the quarter was down 2.4% compared to the same quarter last year. On average, analysts predict that The Bank of New York Mellon Co. will post 4.83 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 3rd. Stockholders of record on Monday, January 23rd were given a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 3.48%. The ex-dividend date of this dividend was Friday, January 20th. Bank of New York Mellon’s payout ratio is 51.03%.

About Bank of New York Mellon

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The Bank of New York Mellon Corp. is a bank holding company, which engages in the provision of financial services. It operates through the following segments: Securities Services, Market and Wealth Services, Investment and Wealth Management, and Other segment. The Securities Services segment includes Asset Servicing business, which provides global custody, fund accounting, integrated middle-office solutions, transfer agency and data and analytics solutions.