Clifford Swan Investment Counsel LLC Reduces Stock Position in The Bank of New York Mellon Co. (NYSE:BK)

Clifford Swan Investment Counsel LLC lowered its holdings in The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 3.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 108,284 shares of the bank's stock after selling 4,099 shares during the quarter. Clifford Swan Investment Counsel LLC's holdings in Bank of New York Mellon were worth $8,319,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of BK. Bailard Inc. raised its stake in shares of Bank of New York Mellon by 2.7% in the fourth quarter. Bailard Inc. now owns 22,881 shares of the bank's stock worth $1,758,000 after purchasing an additional 609 shares during the last quarter. Smartleaf Asset Management LLC raised its position in Bank of New York Mellon by 30.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 5,368 shares of the bank's stock valued at $414,000 after buying an additional 1,257 shares during the last quarter. Maia Wealth LLC lifted its stake in Bank of New York Mellon by 30.9% during the 4th quarter. Maia Wealth LLC now owns 3,463 shares of the bank's stock valued at $266,000 after acquiring an additional 817 shares in the last quarter. Cape Investment Advisory Inc. boosted 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 last quarter. Finally, Hickory Point Bank & Trust bought a new stake in shares of Bank of New York Mellon in the 4th quarter worth $308,000. Institutional investors own 85.31% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on BK shares. Morgan Stanley boosted their price target on shares of 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. 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 lifted their price target 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 downgraded Bank of New York Mellon from an "outperform" rating to a "peer perform" rating in a research note on Friday, January 3rd. Finally, Keefe, Bruyette & Woods lifted their target price on Bank of New York Mellon from $87.00 to $96.00 and gave the stock an "outperform" rating in a research note on Tuesday, December 3rd. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $88.71.

Bank of New York Mellon Price Performance

Bank of New York Mellon stock traded down $0.60 during mid-day trading on Monday, hitting $88.35. 2,122,493 shares of the company traded hands, compared to its average volume of 4,154,086. The stock has a fifty day moving average price of $83.02 and a 200-day moving average price of $77.30. The stock has a market cap of $64.24 billion, a price-to-earnings ratio of 15.19, a price-to-earnings-growth ratio of 0.97 and a beta of 1.08. The Bank of New York Mellon Co. has a one year low of $52.64 and a one year high of $90.34. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.70 and a current ratio of 0.69.

Bank of New York Mellon (NYSE:BK - Get Free Report) last released its earnings results on Wednesday, January 15th. The bank reported $1.72 EPS for the quarter, beating analysts' consensus estimates of $1.54 by $0.18. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. The business had revenue of $4.85 billion for the quarter, compared to analysts' expectations of $4.66 billion. During the same quarter in the prior year, the firm earned $1.28 earnings per share. The firm's revenue was up 11.2% on a year-over-year basis. On average, equities analysts predict that The Bank of New York Mellon Co. will post 6.96 earnings per share for the current fiscal year.

Bank of New York Mellon Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 7th. Investors 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 2.13%. Bank of New York Mellon's payout ratio is 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.