The Bank of New York Mellon Co. (NYSE:BK) Shares Sold by Hall Laurie J Trustee

Hall Laurie J Trustee decreased its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 70.9% in the fourth quarter, Holdings Channel reports. The fund owned 1,895 shares of the bank’s stock after selling 4,616 shares during the period. Hall Laurie J Trustee’s holdings in Bank of New York Mellon were worth $145,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Wells Fargo & Company raised their price objective on shares of Bank of New York Mellon from $82.00 to $86.00 and gave the stock an “equal weight” rating in a research report on Thursday. The Goldman Sachs Group raised their price target on shares of Bank of New York Mellon from $74.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Bank of America upped their price objective on Bank of New York Mellon from $90.00 to $95.00 and gave the company a “buy” rating in a report on Thursday. Truist Financial raised their target price 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. Finally, StockNews.com lowered Bank of New York Mellon from a “buy” rating to a “hold” rating in a research note on Thursday. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $87.14.

Bank of New York Mellon Stock Performance

Shares of Bank of New York Mellon stock opened at $83.31 on Monday. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.70 and a quick ratio of 0.70. The stock has a market capitalization of $60.57 billion, a price-to-earnings ratio of 18.11, a price-to-earnings-growth ratio of 0.76 and a beta of 1.08. The business has a 50-day moving average of $78.87 and a 200 day moving average of $72.32. The Bank of New York Mellon Co. has a 12 month low of $52.64 and a 12 month high of $83.67.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings data on Wednesday, January 15th. The bank reported $1.72 EPS for the quarter, beating the consensus estimate of $1.54 by $0.18. Bank of New York Mellon had a net margin of 9.44% and a return on equity of 12.06%. The business had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.66 billion. During the same quarter last year, the firm posted $1.28 earnings per share. The business’s revenue for the quarter was up 11.2% compared to the same quarter last year. As a group, sell-side analysts forecast that The Bank of New York Mellon Co. will post 5.87 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Monday, January 27th will be given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date of this dividend is Monday, January 27th. Bank of New York Mellon’s dividend payout ratio is currently 40.87%.

Bank of New York Mellon Company 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.