Cardinal Capital Management Has $10.95 Million Position in The Bank of New York Mellon Co. (NYSE:BK)

Cardinal Capital Management cut its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 0.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 142,565 shares of the bank’s stock after selling 249 shares during the period. Bank of New York Mellon accounts for approximately 1.7% of Cardinal Capital Management’s portfolio, making the stock its 13th biggest holding. Cardinal Capital Management’s holdings in Bank of New York Mellon were worth $10,953,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. McClarren Financial Advisors Inc. increased its stake in Bank of New York Mellon by 586.4% during the third quarter. McClarren Financial Advisors Inc. now owns 405 shares of the bank’s stock valued at $29,000 after acquiring an additional 346 shares during the period. Fortitude Family Office LLC increased its stake in shares of Bank of New York Mellon by 130.6% in the third quarter. Fortitude Family Office LLC now owns 611 shares of the bank’s stock valued at $44,000 after buying an additional 346 shares in the last quarter. Ashton Thomas Securities LLC bought a new position in shares of Bank of New York Mellon in the third quarter worth about $46,000. Modus Advisors LLC bought a new position in Bank of New York Mellon in the 4th quarter worth approximately $49,000. Finally, Concord Wealth Partners lifted its holdings in Bank of New York Mellon by 150.5% during the 3rd quarter. Concord Wealth Partners now owns 754 shares of the bank’s stock worth $54,000 after buying an additional 453 shares in the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Analysts Set New Price Targets

BK has been the topic of several recent research reports. Wells Fargo & Company raised their price target on Bank of New York Mellon from $82.00 to $86.00 and gave the company an “equal weight” rating in a report on Thursday, January 16th. Evercore ISI upped their target price on shares of Bank of New York Mellon from $79.00 to $83.00 and gave the company an “in-line” rating in a research report on Thursday, January 16th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Bank of New York Mellon from $94.00 to $98.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Citigroup increased their price objective on shares of Bank of New York Mellon from $75.00 to $82.00 and gave the company a “neutral” rating in a report on Monday, November 25th. Finally, Bank of America lifted their target price on shares of Bank of New York Mellon from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $88.00.

Bank of New York Mellon Trading Up 1.2 %

NYSE BK opened at $87.94 on Tuesday. 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 stock’s 50-day moving average is $81.23 and its 200-day moving average is $75.57. The Bank of New York Mellon Co. has a one year low of $52.64 and a one year high of $88.25. The firm has a market cap of $63.94 billion, a P/E ratio of 15.14, a P/E/G ratio of 0.98 and a beta of 1.08.

Bank of New York Mellon (NYSE:BK) last announced its earnings results on Wednesday, January 15th. The bank reported $1.72 EPS for the quarter, topping the consensus estimate of $1.54 by $0.18. The firm had revenue of $4.85 billion for the quarter, compared to the consensus estimate 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 quarterly revenue was up 11.2% on a year-over-year basis. During the same period last year, the company posted $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 fiscal year.

Bank of New York Mellon Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Monday, January 27th were given a $0.47 dividend. The ex-dividend date was Monday, January 27th. This represents a $1.88 annualized dividend and a yield of 2.14%. Bank of New York Mellon’s dividend payout ratio is currently 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.