Applied Finance Capital Management LLC Sells 1,053 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Applied Finance Capital Management LLC cut its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 8.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,450 shares of the bank’s stock after selling 1,053 shares during the period. Applied Finance Capital Management LLC’s holdings in Bank of New York Mellon were worth $880,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Cape Investment Advisory Inc. increased its holdings in Bank of New York Mellon by 12.6% during the 4th quarter. Cape Investment Advisory Inc. now owns 1,172 shares of the bank’s stock worth $90,000 after acquiring an additional 131 shares during the period. Oppenheimer & Co. Inc. grew its position in shares of Bank of New York Mellon by 0.4% during the 4th quarter. Oppenheimer & Co. Inc. now owns 34,536 shares of the bank’s stock valued at $2,653,000 after purchasing an additional 133 shares in the last quarter. Grove Bank & Trust raised its position in shares of Bank of New York Mellon by 21.0% in the fourth quarter. Grove Bank & Trust now owns 779 shares of the bank’s stock worth $60,000 after buying an additional 135 shares in the last quarter. Valeo Financial Advisors LLC boosted its stake in Bank of New York Mellon by 1.6% during the fourth quarter. Valeo Financial Advisors LLC now owns 9,041 shares of the bank’s stock valued at $695,000 after buying an additional 139 shares during the period. Finally, Stratos Investment Management LLC boosted its stake in Bank of New York Mellon by 2.9% during the fourth quarter. Stratos Investment Management LLC now owns 5,109 shares of the bank’s stock valued at $393,000 after buying an additional 142 shares during the period. 85.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on BK. Bank of America raised their price target on Bank of New York Mellon from $90.00 to $95.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Wells Fargo & Company lifted their target price 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. Barclays increased their price target on shares of Bank of New York Mellon from $102.00 to $104.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Evercore ISI lifted their price objective on shares of Bank of New York Mellon from $83.00 to $87.00 and gave the stock an “in-line” rating in a report on Tuesday, April 1st. Finally, Truist Financial cut their target price on shares of Bank of New York Mellon from $93.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, April 4th. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $89.86.

Bank of New York Mellon Stock Down 1.0 %

BK opened at $73.36 on Wednesday. The Bank of New York Mellon Co. has a 12 month low of $52.64 and a 12 month high of $90.34. The company has a current ratio of 0.69, a quick ratio of 0.70 and a debt-to-equity ratio of 0.83. The business’s 50-day moving average price is $84.22 and its 200-day moving average price is $80.06. The company has a market cap of $52.67 billion, a P/E ratio of 12.63, a P/E/G ratio of 0.97 and a beta of 1.03.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings results on Wednesday, January 15th. The bank reported $1.72 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.18. The business had revenue of $4.85 billion for the quarter, compared to analysts’ expectations 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 business’s quarterly revenue was up 11.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.28 EPS. On average, equities analysts expect that The Bank of New York Mellon Co. will post 6.96 EPS for the current year.

Bank of New York Mellon Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Monday, January 27th were given a dividend of $0.47 per share. The ex-dividend date of this dividend was Monday, January 27th. This represents a $1.88 annualized dividend and a yield of 2.56%. Bank of New York Mellon’s payout ratio is currently 32.36%.

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.