The Bank of New York Mellon Corporation $BK Shares Sold by Pitcairn Co.

Pitcairn Co. trimmed its position in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 64.0% in the third quarter, HoldingsChannel.com reports. The fund owned 8,086 shares of the bank’s stock after selling 14,352 shares during the period. Pitcairn Co.’s holdings in Bank of New York Mellon were worth $881,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Valeo Financial Advisors LLC increased its position in shares of Bank of New York Mellon by 1.3% during the third quarter. Valeo Financial Advisors LLC now owns 7,539 shares of the bank’s stock worth $821,000 after purchasing an additional 94 shares in the last quarter. Ferguson Wellman Capital Management Inc. lifted its holdings in shares of Bank of New York Mellon by 0.4% in the 3rd quarter. Ferguson Wellman Capital Management Inc. now owns 24,752 shares of the bank’s stock valued at $2,697,000 after purchasing an additional 96 shares during the last quarter. Leonard Rickey Investment Advisors P.L.L.C. boosted its position in shares of Bank of New York Mellon by 1.9% in the 3rd quarter. Leonard Rickey Investment Advisors P.L.L.C. now owns 5,192 shares of the bank’s stock valued at $566,000 after purchasing an additional 98 shares during the period. Tiemann Investment Advisors LLC grew its stake in Bank of New York Mellon by 2.9% during the 2nd quarter. Tiemann Investment Advisors LLC now owns 3,492 shares of the bank’s stock worth $318,000 after buying an additional 100 shares during the last quarter. Finally, Cary Street Partners Investment Advisory LLC increased its position in Bank of New York Mellon by 13.7% during the second quarter. Cary Street Partners Investment Advisory LLC now owns 828 shares of the bank’s stock worth $75,000 after buying an additional 100 shares during the period. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Bank of New York Mellon Stock Down 1.3%

BK stock opened at $115.22 on Friday. The Bank of New York Mellon Corporation has a one year low of $70.46 and a one year high of $128.76. The stock has a market capitalization of $79.15 billion, a PE ratio of 15.55, a price-to-earnings-growth ratio of 1.08 and a beta of 1.10. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.71 and a current ratio of 0.71. The company has a fifty day moving average of $119.69 and a 200-day moving average of $112.74.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings results on Friday, October 31st. The bank reported $1.91 earnings per share (EPS) for the quarter. The business had revenue of $5.07 billion for the quarter. Bank of New York Mellon had a net margin of 13.62% and a return on equity of 14.37%. As a group, analysts expect that The Bank of New York Mellon Corporation will post 6.96 EPS for the current year.

Bank of New York Mellon Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 5th. Shareholders of record on Friday, January 23rd were given a dividend of $0.53 per share. The ex-dividend date was Friday, January 23rd. This represents a $2.12 annualized dividend and a yield of 1.8%. Bank of New York Mellon’s payout ratio is presently 28.61%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Morgan Stanley raised their target price on shares of Bank of New York Mellon from $124.00 to $132.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 14th. TD Cowen raised their price objective on shares of Bank of New York Mellon from $133.00 to $145.00 and gave the stock a “buy” rating in a research report on Wednesday, January 7th. Keefe, Bruyette & Woods lifted their price objective on shares of Bank of New York Mellon from $132.00 to $143.00 and gave the company an “outperform” rating in a research note on Wednesday, January 14th. Truist Financial upgraded shares of Bank of New York Mellon from a “hold” rating to a “buy” rating and increased their target price for the stock from $119.00 to $134.00 in a research note on Wednesday, January 7th. Finally, New Street Research set a $143.00 price target on Bank of New York Mellon in a research report on Wednesday, January 14th. Eight analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, Bank of New York Mellon currently has an average rating of “Moderate Buy” and a consensus price target of $131.92.

About Bank of New York Mellon

Bank of New York Mellon Corporation (BNY Mellon) is a global financial services company headquartered in New York City that provides a wide range of asset servicing, custody, and related financial infrastructure solutions to institutional clients. Its core businesses include custody and asset servicing, clearing and collateral management, treasury services, securities lending, corporate trust services, and depositary receipt administration. The company also offers investment management and advisory services through its asset management arm and provides technology-enabled solutions for trade processing, foreign exchange, and liquidity management.

BNY Mellon serves a broad client base that includes asset managers, pension funds, corporations, banks, broker-dealers and sovereign entities.