The Bank of New York Mellon Co. (NYSE:BK) Shares Sold by Addison Capital Co

Addison Capital Co reduced its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 10.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,627 shares of the bank’s stock after selling 1,004 shares during the quarter. Addison Capital Co’s holdings in Bank of New York Mellon were worth $663,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Centricity Wealth Management LLC acquired a new stake in shares of Bank of New York Mellon during the 4th quarter valued at about $39,000. Modus Advisors LLC acquired a new stake in Bank of New York Mellon in the fourth quarter valued at approximately $49,000. Friedenthal Financial purchased a new stake in shares of Bank of New York Mellon in the fourth quarter valued at approximately $56,000. Asset Dedication LLC raised its stake in shares of Bank of New York Mellon by 342.1% during the 4th quarter. Asset Dedication LLC now owns 756 shares of the bank’s stock worth $58,000 after buying an additional 585 shares during the period. Finally, Grove Bank & Trust lifted its position in shares of Bank of New York Mellon by 21.0% during the 4th quarter. Grove Bank & Trust now owns 779 shares of the bank’s stock valued at $60,000 after buying an additional 135 shares in the last quarter. 85.31% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently commented on BK. Wells Fargo & Company boosted their price target on shares of Bank of New York Mellon from $86.00 to $96.00 and gave the stock an “equal weight” rating in a report on Monday, March 3rd. UBS Group upped their price target on shares of Bank of New York Mellon from $88.00 to $94.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. Bank of America lifted 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. Truist Financial increased 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. Finally, Barclays lifted their price target on Bank of New York Mellon from $102.00 to $104.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. 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 currently has a consensus rating of “Moderate Buy” and a consensus target price of $88.71.

Bank of New York Mellon Price Performance

Bank of New York Mellon stock opened at $81.87 on Monday. 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 company has a 50-day moving average price of $84.30 and a 200 day moving average price of $78.55. The Bank of New York Mellon Co. has a 12-month low of $52.64 and a 12-month high of $90.34. The stock has a market cap of $58.78 billion, a P/E ratio of 14.09, a PEG ratio of 0.97 and a beta of 1.06.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.54 by $0.18. The business had revenue of $4.85 billion during the quarter, compared to the consensus estimate 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 last year, the firm earned $1.28 EPS. Sell-side analysts anticipate that The Bank of New York Mellon Co. will post 6.96 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Monday, January 27th were issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis 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 is presently 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.