Orion Portfolio Solutions LLC reduced its stake in The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 19.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,078 shares of the bank's stock after selling 7,790 shares during the period. Orion Portfolio Solutions LLC's holdings in Bank of New York Mellon were worth $2,465,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in BK. Graney & King LLC bought a new stake in Bank of New York Mellon during the 4th quarter worth approximately $35,000. Centricity Wealth Management LLC purchased a new position in shares of Bank of New York Mellon during the 4th quarter valued at $39,000. TCTC Holdings LLC increased its holdings in shares of Bank of New York Mellon by 257.5% in the fourth quarter. TCTC Holdings LLC now owns 597 shares of the bank's stock worth $46,000 after purchasing an additional 430 shares during the period. Modus Advisors LLC purchased a new stake in shares of Bank of New York Mellon in the fourth quarter worth $49,000. Finally, Friedenthal Financial purchased a new stake in shares of Bank of New York Mellon in the fourth quarter worth $56,000. 85.31% of the stock is owned by institutional investors.
Bank of New York Mellon Trading Down 5.1 %
BK traded down $4.33 on Thursday, hitting $79.89. 5,261,860 shares of the company were exchanged, compared to its average volume of 3,910,950. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.70 and a current ratio of 0.69. The firm has a fifty day simple moving average of $85.33 and a two-hundred day simple moving average of $79.94. The stock has a market capitalization of $57.36 billion, a PE ratio of 13.75, a price-to-earnings-growth ratio of 0.97 and a beta of 1.03. The Bank of New York Mellon Co. has a 12 month low of $52.64 and a 12 month high of $90.34.
Bank of New York Mellon (NYSE:BK - Get Free Report) last released its quarterly earnings data on Wednesday, January 15th. The bank reported $1.72 earnings per share 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 firm had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.66 billion. During the same quarter in the prior year, the firm posted $1.28 earnings per share. The business's quarterly revenue was up 11.2% compared to the same quarter last year. Sell-side analysts expect that The Bank of New York Mellon Co. will post 6.96 earnings per share for the current year.
Bank of New York Mellon Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Monday, January 27th were issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date of this dividend was Monday, January 27th. Bank of New York Mellon's dividend payout ratio (DPR) is presently 32.36%.
Analyst Upgrades and Downgrades
BK has been the topic of a number of research analyst reports. Barclays upped their target price 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. Deutsche Bank Aktiengesellschaft raised their target price on shares of Bank of New York Mellon from $94.00 to $98.00 and gave the company a "buy" rating in a research note on Thursday, January 16th. UBS Group boosted 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 note on Tuesday, January 21st. Royal Bank of Canada restated a "sector perform" rating and set a $90.00 price objective on shares of Bank of New York Mellon in a research report on Monday, March 17th. Finally, Truist Financial upped their target price on shares of 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. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $90.07.
Check Out Our Latest Report on Bank of New York Mellon
About Bank of New York Mellon
(
Free Report)
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.
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