The Bank of New York Mellon Co. (NYSE:BK) Shares Sold by HBK Sorce Advisory LLC

HBK Sorce Advisory LLC reduced its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 17.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,263 shares of the bank’s stock after selling 701 shares during the period. HBK Sorce Advisory LLC’s holdings in Bank of New York Mellon were worth $251,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of BK. Centricity Wealth Management LLC bought a new position in shares of Bank of New York Mellon in the 4th quarter worth about $39,000. Modus Advisors LLC bought a new position in shares of Bank of New York Mellon in the 4th quarter worth about $49,000. Friedenthal Financial bought a new position in shares of Bank of New York Mellon in the 4th quarter worth about $56,000. Asset Dedication LLC lifted its position in Bank of New York Mellon by 342.1% in the 4th quarter. Asset Dedication LLC now owns 756 shares of the bank’s stock valued at $58,000 after purchasing an additional 585 shares during the last quarter. Finally, Grove Bank & Trust lifted its position 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 purchasing an additional 135 shares during the last quarter. 85.31% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on BK. UBS Group lifted their price objective on shares of Bank of New York Mellon from $88.00 to $94.00 and gave the company a “buy” rating in a research report on Tuesday, January 21st. Barclays lifted their price objective 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 lifted their price objective on shares of Bank of New York Mellon from $91.00 to $93.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Wells Fargo & Company lifted their price objective on shares of Bank of New York Mellon from $86.00 to $96.00 and gave the company an “equal weight” rating in a research report on Monday, March 3rd. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Bank of New York Mellon from $94.00 to $98.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $88.71.

Bank of New York Mellon Stock Performance

Shares of BK opened at $81.87 on Friday. The firm’s 50 day moving average is $84.30 and its 200-day moving average is $78.47. The stock has a market capitalization of $58.78 billion, a P/E ratio of 14.09, a P/E/G ratio of 0.97 and a beta of 1.06. 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 Bank of New York Mellon Co. has a 12-month low of $52.64 and a 12-month high of $90.34.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings data on Wednesday, January 15th. The bank reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.18. The company had revenue of $4.85 billion for the quarter, compared to analysts’ expectations 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 was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.28 EPS. Equities research analysts anticipate that The Bank of New York Mellon Co. will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Monday, January 27th were given a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 2.30%. The ex-dividend date of this dividend was Monday, January 27th. Bank of New York Mellon’s dividend payout ratio (DPR) 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.