The Bank of New York Mellon Co. (NYSE:BK) Stock Holdings Lessened by Whitener Capital Management Inc.

Whitener Capital Management Inc. decreased its stake in The Bank of New York Mellon Co. (NYSE:BK) by 4.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,830 shares of the bank’s stock after selling 600 shares during the period. Whitener Capital Management Inc.’s holdings in Bank of New York Mellon were worth $986,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in BK. McClarren Financial Advisors Inc. raised its holdings in shares of Bank of New York Mellon by 586.4% during the third quarter. McClarren Financial Advisors Inc. now owns 405 shares of the bank’s stock valued at $29,000 after buying an additional 346 shares during the last quarter. Fortitude Family Office LLC lifted its holdings in Bank of New York Mellon by 130.6% in the third quarter. Fortitude Family Office LLC now owns 611 shares of the bank’s stock worth $44,000 after purchasing an additional 346 shares during the period. Grove Bank & Trust grew its position in Bank of New York Mellon by 28.8% in the 3rd quarter. Grove Bank & Trust now owns 644 shares of the bank’s stock valued at $46,000 after buying an additional 144 shares in the last quarter. Ashton Thomas Securities LLC bought a new stake in shares of Bank of New York Mellon during the 3rd quarter worth about $46,000. Finally, Modus Advisors LLC acquired a new stake in shares of Bank of New York Mellon in the 4th quarter worth approximately $49,000. 85.31% of the stock is currently owned by institutional investors.

Bank of New York Mellon Trading Up 1.3 %

Shares of BK stock opened at $83.31 on Friday. The business’s 50 day moving average is $78.74 and its two-hundred day moving average is $72.08. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.89. The Bank of New York Mellon Co. has a 12 month low of $52.64 and a 12 month high of $83.67. The company has a market cap of $60.57 billion, a PE ratio of 18.11, a price-to-earnings-growth ratio of 0.76 and a beta of 1.08.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings data on Wednesday, January 15th. The bank reported $1.72 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.18. The business had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.66 billion. Bank of New York Mellon had a return on equity of 12.06% and a net margin of 9.44%. The firm’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.28 earnings per share. Equities analysts predict that The Bank of New York Mellon Co. will post 5.87 EPS for the current year.

Bank of New York Mellon Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Monday, January 27th will be issued a dividend of $0.47 per share. The ex-dividend date of this dividend is Monday, January 27th. This represents a $1.88 annualized dividend and a dividend yield of 2.26%. Bank of New York Mellon’s payout ratio is 40.87%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Bank of America boosted their target price on Bank of New York Mellon from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Thursday. Truist Financial boosted their price target 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. Wells Fargo & Company boosted their target price on shares of Bank of New York Mellon from $82.00 to $86.00 and gave the stock an “equal weight” rating in a report on Thursday. Deutsche Bank Aktiengesellschaft upped their price target on Bank of New York Mellon from $94.00 to $98.00 and gave the company a “buy” rating in a report on Thursday. Finally, Morgan Stanley lifted their target price on Bank of New York Mellon from $90.00 to $97.00 and gave the stock an “overweight” rating in a report on Thursday. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $87.14.

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.