Delta Asset Management LLC TN Decreases Stock Position in The Bank of New York Mellon Co. (NYSE:BK)

Delta Asset Management LLC TN trimmed its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK) by 2.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 301,607 shares of the bank’s stock after selling 6,315 shares during the period. Bank of New York Mellon makes up about 2.1% of Delta Asset Management LLC TN’s investment portfolio, making the stock its 13th largest holding. Delta Asset Management LLC TN’s holdings in Bank of New York Mellon were worth $23,172,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Great Valley Advisor Group Inc. purchased a new position in Bank of New York Mellon in the third quarter worth about $219,000. Cerity Partners LLC boosted its holdings in shares of Bank of New York Mellon by 58.3% in the third quarter. Cerity Partners LLC now owns 52,982 shares of the bank’s stock worth $3,807,000 after buying an additional 19,518 shares during the last quarter. Kingsview Wealth Management LLC grew its position in Bank of New York Mellon by 129.0% during the third quarter. Kingsview Wealth Management LLC now owns 13,380 shares of the bank’s stock valued at $961,000 after buying an additional 7,537 shares during the period. Larson Financial Group LLC increased its holdings in Bank of New York Mellon by 7.8% during the third quarter. Larson Financial Group LLC now owns 2,086 shares of the bank’s stock valued at $150,000 after buying an additional 151 shares during the last quarter. Finally, Summit Trail Advisors LLC increased its stake in shares of Bank of New York Mellon by 19.9% in the 3rd quarter. Summit Trail Advisors LLC now owns 6,039 shares of the bank’s stock worth $434,000 after purchasing an additional 1,004 shares in the last quarter. Institutional investors own 85.31% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft upped their price target on Bank of New York Mellon from $94.00 to $98.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Truist Financial raised their price objective 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. Bank of America upped their price target on shares of 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. Wells Fargo & Company raised their price objective on 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. Finally, Citigroup upped their price target on shares of Bank of New York Mellon from $82.00 to $85.00 and gave the stock a “neutral” rating in a research report on Monday. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $89.71.

Bank of New York Mellon Stock Down 0.2 %

Shares of BK opened at $85.07 on Thursday. The Bank of New York Mellon Co. has a 52-week low of $52.64 and a 52-week high of $90.34. The company has a market capitalization of $61.08 billion, a PE ratio of 14.64, a price-to-earnings-growth ratio of 0.97 and a beta of 1.06. The stock has a fifty day simple moving average of $85.31 and a two-hundred day simple moving average of $79.39. 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 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. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The business had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.66 billion. During the same quarter last year, the firm earned $1.28 EPS. The business’s revenue was up 11.2% compared to the same quarter last year. As a group, equities analysts forecast 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 business also recently announced a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Monday, January 27th were given a $0.47 dividend. The ex-dividend date was Monday, January 27th. This represents a $1.88 dividend on an annualized basis and a yield of 2.21%. Bank of New York Mellon’s payout ratio 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.