Galvin Gaustad & Stein LLC Sells 27,992 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Galvin Gaustad & Stein LLC decreased its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 11.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 220,316 shares of the bank's stock after selling 27,992 shares during the quarter. Bank of New York Mellon comprises approximately 1.5% of Galvin Gaustad & Stein LLC's investment portfolio, making the stock its 28th biggest holding. Galvin Gaustad & Stein LLC's holdings in Bank of New York Mellon were worth $16,927,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Studio Investment Management LLC raised its position in shares of Bank of New York Mellon by 2.1% during the third quarter. Studio Investment Management LLC now owns 6,636 shares of the bank's stock worth $477,000 after purchasing an additional 134 shares during the period. Stanley Laman Group Ltd. raised its holdings in Bank of New York Mellon by 2.2% during the 3rd quarter. Stanley Laman Group Ltd. now owns 6,198 shares of the bank's stock worth $445,000 after buying an additional 135 shares during the period. Grove Bank & Trust lifted its stake in Bank of New York Mellon by 21.0% in the fourth 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. Avidian Wealth Enterprises LLC increased its position in shares of Bank of New York Mellon by 2.0% during the third quarter. Avidian Wealth Enterprises LLC now owns 7,024 shares of the bank's stock worth $505,000 after acquiring an additional 137 shares in the last quarter. Finally, Frank Rimerman Advisors LLC raised its holdings in shares of Bank of New York Mellon by 1.1% during the third quarter. Frank Rimerman Advisors LLC now owns 12,908 shares of the bank's stock worth $928,000 after acquiring an additional 142 shares during the period. 85.31% of the stock is owned by institutional investors.

Bank of New York Mellon Stock Performance

Shares of Bank of New York Mellon stock traded up $0.42 on Thursday, hitting $84.75. The stock had a trading volume of 4,041,561 shares, compared to its average volume of 4,452,426. The stock has a market cap of $61.62 billion, a price-to-earnings ratio of 14.59, a price-to-earnings-growth ratio of 0.97 and a beta of 1.08. The business's 50 day moving average is $79.23 and its two-hundred day moving average is $72.82. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.83. The Bank of New York Mellon Co. has a twelve month low of $52.64 and a twelve month high of $85.81.

Bank of New York Mellon (NYSE:BK - Get Free Report) last announced its 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 firm had revenue of $4.85 billion for the quarter, compared to analyst estimates 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 in the prior year, the business posted $1.28 EPS. Analysts forecast that The Bank of New York Mellon Co. will post 6.86 EPS for the current year.

Bank of New York Mellon Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Monday, January 27th will be paid a $0.47 dividend. The ex-dividend date of this dividend is Monday, January 27th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.22%. Bank of New York Mellon's payout ratio is currently 32.36%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on BK shares. Truist Financial upped their price objective on Bank of New York Mellon from $91.00 to $93.00 and gave the stock a "buy" rating in a research report on Thursday, January 16th. Evercore ISI raised their price target on shares of Bank of New York Mellon from $79.00 to $83.00 and gave the stock an "in-line" rating in a research note on Thursday, January 16th. Bank of America raised their target price on shares of Bank of New York Mellon from $90.00 to $95.00 and gave the company a "buy" rating in a research report on Thursday, January 16th. JPMorgan Chase & Co. increased their price objective on shares of Bank of New York Mellon from $69.00 to $77.00 and gave the stock an "overweight" rating in a research note on Monday, October 7th. Finally, Citigroup lifted their target price on Bank of New York Mellon from $75.00 to $82.00 and gave the company a "neutral" rating in a research report on Monday, November 25th. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $88.00.

Bank of New York Mellon 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.