Kingsview Wealth Management LLC Has $1.01 Million Stake in The Bank of New York Mellon Co. (NYSE:BK)

Kingsview Wealth Management LLC trimmed its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK) by 1.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,191 shares of the bank’s stock after selling 189 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Bank of New York Mellon were worth $1,013,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. McClarren Financial Advisors Inc. increased its position in 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 worth $29,000 after buying an additional 346 shares during the last quarter. Fortitude Family Office LLC increased its position in Bank of New York Mellon by 130.6% during the third quarter. Fortitude Family Office LLC now owns 611 shares of the bank’s stock worth $44,000 after buying an additional 346 shares during the last quarter. Grove Bank & Trust grew its position in shares of Bank of New York Mellon by 28.8% in the third 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 last quarter. Ashton Thomas Securities LLC acquired a new stake in shares of Bank of New York Mellon in the third quarter valued at about $46,000. Finally, Modus Advisors LLC acquired a new stake in shares of Bank of New York Mellon in the fourth quarter valued at about $49,000. 85.31% of the stock is owned by institutional investors and hedge funds.

Bank of New York Mellon Stock Up 0.6 %

Shares of BK opened at $85.56 on Wednesday. The stock has a market cap of $62.21 billion, a price-to-earnings ratio of 14.73, a P/E/G ratio of 0.98 and a beta of 1.08. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.83. The Bank of New York Mellon Co. has a 12 month low of $52.64 and a 12 month high of $87.70. The company has a 50-day moving average price of $80.77 and a two-hundred day moving average price of $74.97.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings results on Wednesday, January 15th. The bank reported $1.72 EPS for the quarter, topping analysts’ consensus estimates 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 net margin of 11.35% and a return on equity of 12.68%. The company’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.28 earnings per share. Equities analysts predict that The Bank of New York Mellon Co. will post 6.89 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 7th. Stockholders 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 2.20%. The ex-dividend date was Monday, January 27th. Bank of New York Mellon’s dividend payout ratio (DPR) is currently 32.36%.

Analysts Set New Price Targets

BK has been the topic of several research analyst reports. Evercore ISI raised their price target on Bank of New York Mellon from $79.00 to $83.00 and gave the company an “in-line” rating in a research report on Thursday, January 16th. Keefe, Bruyette & Woods raised their price target on Bank of New York Mellon from $87.00 to $96.00 and gave the company an “outperform” rating in a research report on Tuesday, December 3rd. Bank of America raised 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 report on Thursday, January 16th. Morgan Stanley increased their target price on shares of 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, Truist Financial increased their target price on shares of 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. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $88.00.

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.