Schulhoff & Co. Inc. Reduces Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Schulhoff & Co. Inc. lessened its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 1.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,173 shares of the bank’s stock after selling 165 shares during the period. Schulhoff & Co. Inc.’s holdings in Bank of New York Mellon were worth $935,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of BK. Oppenheimer & Co. Inc. grew its holdings in Bank of New York Mellon by 0.4% during the 4th quarter. Oppenheimer & Co. Inc. now owns 34,536 shares of the bank’s stock valued at $2,653,000 after buying an additional 133 shares during the last quarter. Studio Investment Management LLC boosted its stake in shares of Bank of New York Mellon by 2.1% during the third quarter. Studio Investment Management LLC now owns 6,636 shares of the bank’s stock valued at $477,000 after acquiring an additional 134 shares during the last quarter. Grove Bank & Trust increased its position in Bank of New York Mellon by 21.0% during the 4th quarter. Grove Bank & Trust now owns 779 shares of the bank’s stock worth $60,000 after purchasing an additional 135 shares in the last quarter. Avidian Wealth Enterprises LLC increased its position in Bank of New York Mellon by 2.0% during the 3rd quarter. Avidian Wealth Enterprises LLC now owns 7,024 shares of the bank’s stock worth $505,000 after purchasing an additional 137 shares in the last quarter. Finally, Valeo Financial Advisors LLC lifted its holdings in Bank of New York Mellon by 1.6% in the 4th quarter. Valeo Financial Advisors LLC now owns 9,041 shares of the bank’s stock valued at $695,000 after purchasing an additional 139 shares in the last quarter. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Bank of New York Mellon Stock Performance

Shares of BK stock opened at $86.97 on Friday. The company has a current ratio of 0.69, a quick ratio of 0.70 and a debt-to-equity ratio of 0.83. The company has a market cap of $63.23 billion, a PE ratio of 14.97, a P/E/G ratio of 0.97 and a beta of 1.08. The company’s fifty day simple moving average is $82.80 and its 200-day simple moving average is $76.93. The Bank of New York Mellon Co. has a 52 week low of $52.64 and a 52 week high of $89.44.

Bank of New York Mellon (NYSE:BK) last issued 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. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. The company had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.66 billion. During the same quarter in the previous year, the firm posted $1.28 earnings per share. The firm’s quarterly revenue was up 11.2% on a year-over-year basis. As a group, equities research analysts anticipate 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 declared a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Monday, January 27th were issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date of this dividend was Monday, January 27th. Bank of New York Mellon’s dividend payout ratio is presently 32.36%.

Wall Street Analyst Weigh In

BK has been the subject of a number of recent research reports. Truist Financial lifted 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. Citigroup boosted their price target on Bank of New York Mellon from $75.00 to $82.00 and gave the company a “neutral” rating in a report on Monday, November 25th. Deutsche Bank Aktiengesellschaft raised their price objective on 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. StockNews.com lowered Bank of New York Mellon from a “buy” rating to a “hold” rating in a research note on Wednesday, February 19th. Finally, Wells Fargo & Company raised their price target on Bank of New York Mellon from $82.00 to $86.00 and gave the stock an “equal weight” 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. According to data from MarketBeat.com, Bank of New York Mellon has an average rating of “Moderate Buy” and an average target price 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.