The Bank of New York Mellon Co. (NYSE:BK) Shares Sold by Wilmington Savings Fund Society FSB

Wilmington Savings Fund Society FSB lowered its position in The Bank of New York Mellon Co. (NYSE:BK) by 6.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 26,285 shares of the bank’s stock after selling 1,706 shares during the period. Wilmington Savings Fund Society FSB’s holdings in Bank of New York Mellon were worth $2,019,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Studio Investment Management LLC boosted its position in Bank of New York Mellon by 2.1% during the third quarter. Studio Investment Management LLC now owns 6,636 shares of the bank’s stock worth $477,000 after purchasing an additional 134 shares in the last quarter. Stanley Laman Group Ltd. lifted its position in shares of Bank of New York Mellon by 2.2% during the 3rd quarter. Stanley Laman Group Ltd. now owns 6,198 shares of the bank’s stock valued at $445,000 after buying an additional 135 shares in the last quarter. Grove Bank & Trust grew its stake in Bank of New York Mellon by 21.0% in the 4th quarter. Grove Bank & Trust now owns 779 shares of the bank’s stock valued at $60,000 after acquiring an additional 135 shares during the period. Avidian Wealth Enterprises LLC increased its holdings in Bank of New York Mellon by 2.0% in the 3rd quarter. Avidian Wealth Enterprises LLC now owns 7,024 shares of the bank’s stock worth $505,000 after acquiring an additional 137 shares in the last quarter. Finally, Frank Rimerman Advisors LLC raised its position in Bank of New York Mellon by 1.1% during the third quarter. Frank Rimerman Advisors LLC now owns 12,908 shares of the bank’s stock worth $928,000 after acquiring an additional 142 shares during the period. 85.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Barclays lifted their target price 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. Truist Financial boosted their price objective on Bank of New York Mellon from $91.00 to $93.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Royal Bank of Canada restated a “sector perform” rating and issued a $79.00 target price on shares of Bank of New York Mellon in a research report on Monday, October 14th. StockNews.com cut Bank of New York Mellon from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, Morgan Stanley raised their price objective on Bank of New York Mellon from $90.00 to $97.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $88.00.

Bank of New York Mellon Price Performance

Bank of New York Mellon stock opened at $86.15 on Monday. The company has a current ratio of 0.69, a quick ratio of 0.70 and a debt-to-equity ratio of 0.83. The stock has a market cap of $62.64 billion, a P/E ratio of 14.83, a PEG ratio of 0.98 and a beta of 1.08. The company has a 50-day moving average price of $80.70 and a 200 day moving average price of $74.75. The Bank of New York Mellon Co. has a 12-month low of $52.64 and a 12-month high of $87.70.

Bank of New York Mellon (NYSE:BK) last released 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 firm had revenue of $4.85 billion for 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 business’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.28 EPS. Sell-side analysts anticipate that The Bank of New York Mellon Co. will post 6.89 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Monday, January 27th were issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date was Monday, January 27th. Bank of New York Mellon’s dividend payout ratio is presently 32.36%.

Bank of New York Mellon Profile

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.