The Bank of New York Mellon Co. (NYSE:BK) Shares Sold by Checchi Capital Advisers LLC

Checchi Capital Advisers LLC decreased its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 2.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,271 shares of the bank’s stock after selling 218 shares during the period. Checchi Capital Advisers LLC’s holdings in Bank of New York Mellon were worth $635,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. Centricity Wealth Management LLC purchased a new position in shares of Bank of New York Mellon in the 4th quarter valued at approximately $39,000. Fortitude Family Office LLC grew its stake in shares of Bank of New York Mellon by 130.6% in the 3rd quarter. Fortitude Family Office LLC now owns 611 shares of the bank’s stock valued at $44,000 after purchasing an additional 346 shares during the last quarter. Ashton Thomas Securities LLC purchased a new position in shares of Bank of New York Mellon in the 3rd quarter valued at approximately $46,000. Modus Advisors LLC purchased a new position in shares of Bank of New York Mellon in the 4th quarter valued at approximately $49,000. Finally, Friedenthal Financial purchased a new position in shares of Bank of New York Mellon in the 4th quarter valued at approximately $56,000. Institutional investors and hedge funds own 85.31% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on BK shares. Truist Financial lifted their target price on Bank of New York Mellon from $91.00 to $93.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Keefe, Bruyette & Woods lifted their target price on Bank of New York Mellon from $87.00 to $96.00 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. Deutsche Bank Aktiengesellschaft lifted their target price on 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. Morgan Stanley lifted their target price on Bank of New York Mellon from $90.00 to $97.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Finally, Bank of America lifted their price target on 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. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $88.00.

Bank of New York Mellon Stock Performance

Shares of BK stock opened at $86.23 on Thursday. The stock has a fifty day moving average price of $82.59 and a 200 day moving average price of $76.86. The stock has a market cap of $62.70 billion, a PE ratio of 14.84, a P/E/G ratio of 0.97 and a beta of 1.08. The Bank of New York Mellon Co. has a 1 year low of $52.64 and a 1 year high of $89.44. 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) last issued its quarterly earnings data on Wednesday, January 15th. The bank reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.18. The firm had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.66 billion. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. Bank of New York Mellon’s revenue was up 11.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.28 earnings per share. Sell-side analysts forecast 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 disclosed a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Monday, January 27th were issued a dividend of $0.47 per share. The ex-dividend date of this dividend was Monday, January 27th. This represents a $1.88 annualized dividend and a yield of 2.18%. Bank of New York Mellon’s dividend payout ratio is presently 32.36%.

About Bank of New York Mellon

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.