The Bank of New York Mellon Co. (NYSE:BK) Shares Sold by South Dakota Investment Council

South Dakota Investment Council reduced its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 11.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 143,002 shares of the bank’s stock after selling 19,376 shares during the quarter. South Dakota Investment Council’s holdings in Bank of New York Mellon were worth $10,987,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Centricity Wealth Management LLC purchased a new position in Bank of New York Mellon in the 4th quarter valued at about $39,000. Fortitude Family Office LLC increased its holdings in shares of Bank of New York Mellon by 130.6% during the 3rd quarter. Fortitude Family Office LLC now owns 611 shares of the bank’s stock worth $44,000 after buying an additional 346 shares during the last quarter. Ashton Thomas Securities LLC acquired a new stake in shares of Bank of New York Mellon during the 3rd quarter worth approximately $46,000. Modus Advisors LLC acquired a new stake in Bank of New York Mellon in the 4th quarter valued at approximately $49,000. Finally, Concord Wealth Partners increased its holdings in Bank of New York Mellon by 150.5% in the 3rd quarter. Concord Wealth Partners now owns 754 shares of the bank’s stock valued at $54,000 after purchasing an additional 453 shares during the last quarter. 85.31% of the stock is owned by hedge funds and other institutional investors.

Bank of New York Mellon Trading Up 0.1 %

NYSE BK opened at $87.29 on Friday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.70 and a current ratio of 0.69. The firm has a market cap of $63.46 billion, a PE ratio of 15.02, a P/E/G ratio of 0.98 and a beta of 1.08. The Bank of New York Mellon Co. has a one year low of $52.64 and a one year high of $89.44. The firm’s fifty day moving average is $82.04 and its two-hundred day moving average is $76.36.

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 analysts’ consensus estimates of $1.54 by $0.18. The company 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%. Bank of New York Mellon’s quarterly revenue was up 11.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.28 earnings per share. Analysts expect that The Bank of New York Mellon Co. will post 6.94 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Monday, January 27th were paid a $0.47 dividend. The ex-dividend date of this dividend was Monday, January 27th. This represents a $1.88 dividend on an annualized basis and a yield of 2.15%. Bank of New York Mellon’s dividend payout ratio is presently 32.36%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on BK shares. Truist Financial boosted their price target on shares of 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. Wells Fargo & Company lifted 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, January 16th. Morgan Stanley lifted their price objective on shares of Bank of New York Mellon from $90.00 to $97.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Barclays lifted their price objective on shares of Bank of New York Mellon from $102.00 to $104.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Bank of New York Mellon from $87.00 to $96.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $88.00.

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.