The Bank of New York Mellon Co. (NYSE:BK) Shares Sold by Foundry Partners LLC

Foundry Partners LLC decreased its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 0.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 381,777 shares of the bank's stock after selling 3,305 shares during the quarter. Bank of New York Mellon accounts for about 1.5% of Foundry Partners LLC's investment portfolio, making the stock its 9th biggest position. Foundry Partners LLC owned 0.05% of Bank of New York Mellon worth $29,332,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of BK. Graney & King LLC purchased a new stake in shares of Bank of New York Mellon during the fourth quarter valued at about $35,000. Centricity Wealth Management LLC purchased a new position in Bank of New York Mellon in the fourth quarter worth $39,000. TCTC Holdings LLC increased its position in shares of Bank of New York Mellon by 257.5% during the fourth quarter. TCTC Holdings LLC now owns 597 shares of the bank's stock worth $46,000 after purchasing an additional 430 shares in the last quarter. Modus Advisors LLC acquired a new stake in shares of Bank of New York Mellon in the 4th quarter worth $49,000. Finally, Friedenthal Financial acquired a new position in Bank of New York Mellon during the 4th quarter valued at about $56,000. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Bank of New York Mellon Price Performance

BK traded down $0.58 on Wednesday, reaching $72.93. 1,379,365 shares of the company's stock were exchanged, compared to its average volume of 3,938,250. The Bank of New York Mellon Co. has a twelve month low of $52.64 and a twelve month high of $90.34. The stock has a market cap of $52.36 billion, a PE ratio of 12.52, a P/E/G ratio of 0.97 and a beta of 1.03. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.69 and a quick ratio of 0.70. The stock's fifty day moving average price is $84.22 and its 200-day moving average price is $80.06.

Bank of New York Mellon (NYSE:BK - Get Free Report) last issued its earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share for the quarter, topping the consensus estimate 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 period in the previous year, the firm posted $1.28 EPS. The business's revenue for the quarter 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 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Monday, January 27th were paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date was Monday, January 27th. Bank of New York Mellon's dividend payout ratio (DPR) is presently 32.36%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on BK shares. Bank of America upped their price target on shares of Bank of New York Mellon from $90.00 to $95.00 and gave the company a "buy" rating in a research note on Thursday, January 16th. UBS Group raised 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 report on Tuesday, January 21st. Wolfe Research downgraded shares of Bank of New York Mellon from an "outperform" rating to a "peer perform" rating in a report on Friday, January 3rd. Truist Financial decreased their price objective on Bank of New York Mellon from $93.00 to $90.00 and set a "buy" rating for the company in a report on Friday, April 4th. Finally, Royal Bank of Canada reiterated a "sector perform" rating and set a $90.00 price target on shares of Bank of New York Mellon in a research report on Monday, March 17th. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Bank of New York Mellon currently has a consensus rating of "Moderate Buy" and a consensus target price of $89.86.

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.