Wakefield Asset Management LLLP Has $4.89 Million Stock Position in The Bank of New York Mellon Co. (NYSE:BK)

Wakefield Asset Management LLLP cut its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 1.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 63,683 shares of the bank’s stock after selling 892 shares during the period. Bank of New York Mellon makes up about 1.7% of Wakefield Asset Management LLLP’s holdings, making the stock its 6th biggest position. Wakefield Asset Management LLLP’s holdings in Bank of New York Mellon were worth $4,893,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of BK. Arkadios Wealth Advisors acquired a new position in Bank of New York Mellon during the third quarter valued at $339,000. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Bank of New York Mellon by 39.4% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 89,421 shares of the bank’s stock worth $6,426,000 after purchasing an additional 25,294 shares during the period. Nisa Investment Advisors LLC grew its position in Bank of New York Mellon by 67.8% during the third quarter. Nisa Investment Advisors LLC now owns 132,496 shares of the bank’s stock valued at $9,521,000 after purchasing an additional 53,534 shares in the last quarter. Pallas Capital Advisors LLC increased its stake in Bank of New York Mellon by 6.5% in the 3rd quarter. Pallas Capital Advisors LLC now owns 5,426 shares of the bank’s stock valued at $415,000 after buying an additional 331 shares during the period. Finally, Valmark Advisers Inc. lifted its position in Bank of New York Mellon by 2.9% in the 3rd quarter. Valmark Advisers Inc. now owns 12,637 shares of the bank’s stock worth $908,000 after buying an additional 359 shares in the last quarter. 85.31% of the stock is owned by hedge funds and other institutional investors.

Bank of New York Mellon Stock Up 0.7 %

Shares of BK stock opened at $86.97 on Friday. The stock has a 50 day moving average of $82.80 and a 200-day moving average of $76.93. The firm has a market cap of $63.23 billion, a PE ratio of 14.97, a price-to-earnings-growth ratio of 0.97 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 $89.44.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings results 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. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The company had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.66 billion. During the same period last year, the business posted $1.28 EPS. The business’s quarterly revenue was up 11.2% on a year-over-year basis. On average, equities analysts predict 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 company also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Monday, January 27th were issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 2.16%. The ex-dividend date of this dividend was Monday, January 27th. Bank of New York Mellon’s payout ratio is presently 32.36%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on BK shares. 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 research note on Thursday, January 16th. Wolfe Research downgraded Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. 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 research note on Monday, November 25th. UBS Group lifted their target price on shares of Bank of New York Mellon from $88.00 to $94.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. Finally, Evercore ISI increased their price target on shares of Bank of New York Mellon from $79.00 to $83.00 and gave the stock an “in-line” rating in a research note on Thursday, January 16th. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $88.00.

Bank of New York Mellon Company 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.