The Bank of New York Mellon Co. (NYSE:BK) Shares Sold by Alpine Woods Capital Investors LLC

Alpine Woods Capital Investors LLC cut its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 2.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 82,374 shares of the bank’s stock after selling 1,778 shares during the period. Bank of New York Mellon comprises approximately 1.2% of Alpine Woods Capital Investors LLC’s holdings, making the stock its 23rd biggest position. Alpine Woods Capital Investors LLC’s holdings in Bank of New York Mellon were worth $6,329,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of BK. Centricity Wealth Management LLC bought a new stake in Bank of New York Mellon in the 4th quarter valued at about $39,000. Ashton Thomas Securities LLC bought a new stake in Bank of New York Mellon in the 3rd quarter valued at about $46,000. Modus Advisors LLC bought a new stake in Bank of New York Mellon in the 4th quarter valued at about $49,000. Friedenthal Financial bought a new stake in Bank of New York Mellon in the 4th quarter valued at about $56,000. Finally, Asset Dedication LLC lifted its position in Bank of New York Mellon by 342.1% in the 4th quarter. Asset Dedication LLC now owns 756 shares of the bank’s stock valued at $58,000 after purchasing an additional 585 shares during the last quarter. 85.31% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BK has been the topic of several recent research reports. Morgan Stanley lifted their price objective on shares of Bank of New York Mellon from $90.00 to $97.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Evercore ISI boosted 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 report on Thursday, January 16th. 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, January 16th. Wolfe Research downgraded shares of Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. Finally, Barclays boosted their price target on shares of Bank of New York Mellon from $102.00 to $104.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $88.71.

Bank of New York Mellon Stock Performance

Shares of BK opened at $79.58 on Friday. The firm’s 50 day moving average is $84.20 and its 200-day moving average is $78.29. The stock has a market capitalization of $57.13 billion, a P/E ratio of 13.70, a P/E/G ratio of 0.97 and a beta of 1.06. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.69 and a quick ratio of 0.70. The Bank of New York Mellon Co. has a 12-month low of $52.64 and a 12-month high of $90.34.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings data 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. The company had revenue of $4.85 billion for 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 business’s revenue was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.28 EPS. Equities research analysts anticipate that The Bank of New York Mellon Co. will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Monday, January 27th were given a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 2.36%. The ex-dividend date of this dividend was Monday, January 27th. Bank of New York Mellon’s dividend payout ratio (DPR) is currently 32.36%.

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.