The Bank of New York Mellon Co. (NYSE:BK) Shares Sold by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC trimmed its position in The Bank of New York Mellon Co. (NYSE:BK) by 1.4% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 13,191 shares of the bank’s stock after selling 189 shares during the period. Kingsview Wealth Management LLC’s holdings in Bank of New York Mellon were worth $1,013,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of BK. United Advisor Group LLC bought a new position in shares of Bank of New York Mellon during the third quarter valued at approximately $595,000. Czech National Bank grew its holdings in shares of Bank of New York Mellon by 4.9% during the fourth quarter. Czech National Bank now owns 157,645 shares of the bank’s stock valued at $12,112,000 after purchasing an additional 7,316 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Bank of New York Mellon by 1.7% during the third quarter. Principal Financial Group Inc. now owns 883,853 shares of the bank’s stock valued at $63,514,000 after purchasing an additional 14,916 shares during the last quarter. Chase Investment Counsel Corp grew its holdings in shares of Bank of New York Mellon by 67.2% during the third quarter. Chase Investment Counsel Corp now owns 83,530 shares of the bank’s stock valued at $6,002,000 after purchasing an additional 33,558 shares during the last quarter. Finally, HighTower Advisors LLC grew its holdings in shares of Bank of New York Mellon by 130.1% during the third quarter. HighTower Advisors LLC now owns 326,372 shares of the bank’s stock valued at $23,449,000 after purchasing an additional 184,560 shares during the last quarter. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Bank of New York Mellon Price Performance

BK opened at $85.56 on Wednesday. The stock has a fifty day moving average of $80.77 and a 200-day moving average of $74.97. The firm has a market capitalization of $62.21 billion, a P/E ratio of 14.73, a PEG ratio of 0.98 and a beta of 1.08. The Bank of New York Mellon Co. has a 12-month low of $52.64 and a 12-month high of $87.70. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.83.

Bank of New York Mellon (NYSE:BK) last released its earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.54 by $0.18. The company had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.66 billion. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. The company’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.28 earnings per share. Equities analysts forecast that The Bank of New York Mellon Co. will post 6.89 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Monday, January 27th were issued 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 dividend yield of 2.20%. Bank of New York Mellon’s payout ratio is currently 32.36%.

Wall Street Analyst Weigh In

BK has been the subject of several recent research reports. Truist Financial upped their target price on Bank of New York Mellon from $91.00 to $93.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Deutsche Bank Aktiengesellschaft increased their price objective on Bank of New York Mellon from $94.00 to $98.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Wolfe Research lowered Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. Morgan Stanley increased their price objective on Bank of New York Mellon from $90.00 to $97.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Finally, Bank of America increased their price objective on 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 stock. According to MarketBeat, Bank of New York Mellon presently has a consensus rating of “Moderate Buy” and an average target price of $88.00.

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.