Strategic Investment Advisors MI Has $903,000 Stock Position in The Bank of New York Mellon Co. (NYSE:BK)

Strategic Investment Advisors MI lowered its stake in The Bank of New York Mellon Co. (NYSE:BK) by 10.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 11,747 shares of the bank’s stock after selling 1,379 shares during the period. Strategic Investment Advisors MI’s holdings in Bank of New York Mellon were worth $903,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. McClarren Financial Advisors Inc. boosted its holdings in Bank of New York Mellon by 586.4% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 405 shares of the bank’s stock valued at $29,000 after purchasing an additional 346 shares during the period. Fortitude Family Office LLC boosted its holdings in 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 period. Modus Advisors LLC bought a new stake in Bank of New York Mellon in the 4th quarter valued at about $49,000. Ashton Thomas Securities LLC bought a new stake in Bank of New York Mellon in the 3rd quarter valued at about $46,000. Finally, Grove Bank & Trust boosted its holdings 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 purchasing an additional 144 shares during the period. Institutional investors and hedge funds own 85.31% of the company’s stock.

Analyst Upgrades and Downgrades

BK has been the subject of a number of recent research reports. StockNews.com downgraded shares of Bank of New York Mellon from a “buy” rating to a “hold” rating in a report on Thursday, January 16th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Bank of New York Mellon from $94.00 to $98.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Morgan Stanley upped their price target on shares of Bank of New York Mellon from $90.00 to $97.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. 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. Finally, Truist Financial upped 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 report on Thursday, January 16th. Six research 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 presently has an average rating of “Moderate Buy” and an average price target of $88.00.

Bank of New York Mellon Trading Up 1.3 %

Shares of NYSE BK opened at $85.82 on Monday. 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 Bank of New York Mellon Co. has a 52-week low of $52.64 and a 52-week high of $86.34. The firm has a 50 day moving average price of $79.53 and a two-hundred day moving average price of $73.18. The stock has a market cap of $62.39 billion, a P/E ratio of 14.77, a price-to-earnings-growth ratio of 0.96 and a beta of 1.08.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.18. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The firm had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.66 billion. During the same period in the prior year, the company posted $1.28 EPS. The company’s revenue was up 11.2% on a year-over-year basis. As a group, equities analysts forecast that The Bank of New York Mellon Co. will post 6.86 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Monday, January 27th will be given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 2.19%. The ex-dividend date is Monday, January 27th. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 32.36%.

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.