Murphy Middleton Hinkle & Parker Inc. Has $16.51 Million Stake in The Bank of New York Mellon Corporation $BK

Murphy Middleton Hinkle & Parker Inc. increased its stake in The Bank of New York Mellon Corporation (NYSE:BK) by 5,829.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 142,191 shares of the bank’s stock after purchasing an additional 139,793 shares during the period. Bank of New York Mellon accounts for 4.7% of Murphy Middleton Hinkle & Parker Inc.’s portfolio, making the stock its 5th largest position. Murphy Middleton Hinkle & Parker Inc.’s holdings in Bank of New York Mellon were worth $16,507,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Valley Wealth Managers Inc. bought a new position in Bank of New York Mellon during the 3rd quarter worth $33,000. Caldwell Trust Co bought a new stake in Bank of New York Mellon in the second quarter valued at $36,000. Westside Investment Management Inc. boosted its holdings in shares of Bank of New York Mellon by 44.1% during the third quarter. Westside Investment Management Inc. now owns 415 shares of the bank’s stock valued at $45,000 after acquiring an additional 127 shares during the period. Dunhill Financial LLC grew its position in shares of Bank of New York Mellon by 130.8% during the third quarter. Dunhill Financial LLC now owns 427 shares of the bank’s stock worth $47,000 after acquiring an additional 242 shares during the last quarter. Finally, Community Bank N.A. grew its position in shares of Bank of New York Mellon by 250.4% during the third quarter. Community Bank N.A. now owns 438 shares of the bank’s stock worth $48,000 after acquiring an additional 313 shares during the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on BK shares. Citigroup initiated coverage on shares of Bank of New York Mellon in a research report on Monday, February 23rd. They issued a “neutral” rating on the stock. Keefe, Bruyette & Woods upped their target price on shares of Bank of New York Mellon from $132.00 to $143.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 14th. Truist Financial upgraded shares of Bank of New York Mellon from a “hold” rating to a “buy” rating and raised their price target for the company from $119.00 to $134.00 in a research note on Wednesday, January 7th. TD Cowen lifted their price target on Bank of New York Mellon from $133.00 to $145.00 and gave the company a “buy” rating in a report on Wednesday, January 7th. Finally, Royal Bank Of Canada boosted their price objective on Bank of New York Mellon from $124.00 to $130.00 and gave the stock a “sector perform” rating in a research report on Wednesday, January 14th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $131.92.

Bank of New York Mellon Stock Up 1.3%

Shares of BK stock opened at $116.39 on Tuesday. The Bank of New York Mellon Corporation has a 1 year low of $70.46 and a 1 year high of $128.76. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.71 and a current ratio of 0.71. The business’s fifty day moving average is $119.04 and its 200-day moving average is $113.70. The stock has a market cap of $80.11 billion, a PE ratio of 15.71, a price-to-earnings-growth ratio of 1.07 and a beta of 1.10.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings data on Friday, October 31st. The bank reported $1.91 earnings per share for the quarter. Bank of New York Mellon had a return on equity of 14.37% and a net margin of 13.62%.The business had revenue of $5.07 billion during the quarter. Equities analysts expect that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current fiscal year.

Bank of New York Mellon Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 5th. Shareholders of record on Friday, January 23rd were issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend was Friday, January 23rd. Bank of New York Mellon’s dividend payout ratio is presently 28.61%.

Bank of New York Mellon Profile

Bank of New York Mellon Corporation (BNY Mellon) is a global financial services company headquartered in New York City that provides a wide range of asset servicing, custody, and related financial infrastructure solutions to institutional clients. Its core businesses include custody and asset servicing, clearing and collateral management, treasury services, securities lending, corporate trust services, and depositary receipt administration. The company also offers investment management and advisory services through its asset management arm and provides technology-enabled solutions for trade processing, foreign exchange, and liquidity management.

BNY Mellon serves a broad client base that includes asset managers, pension funds, corporations, banks, broker-dealers and sovereign entities.