The Bank of New York Mellon Co. (NYSE:BK) Shares Sold by Congress Wealth Management LLC DE

Congress Wealth Management LLC DE trimmed its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 49.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 38,975 shares of the bank’s stock after selling 38,405 shares during the period. Congress Wealth Management LLC DE’s holdings in Bank of New York Mellon were worth $2,994,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of BK. Centricity Wealth Management LLC acquired a new position in Bank of New York Mellon during the fourth quarter worth about $39,000. TCTC Holdings LLC raised its position in shares of Bank of New York Mellon by 257.5% during the 4th quarter. TCTC Holdings LLC now owns 597 shares of the bank’s stock worth $46,000 after purchasing an additional 430 shares during the last quarter. Modus Advisors LLC purchased a new stake in Bank of New York Mellon in the 4th quarter valued at approximately $49,000. Friedenthal Financial acquired a new stake in Bank of New York Mellon during the 4th quarter valued at $56,000. Finally, Asset Dedication LLC increased its position in Bank of New York Mellon by 342.1% during the fourth quarter. Asset Dedication LLC now owns 756 shares of the bank’s stock worth $58,000 after buying an additional 585 shares in the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on BK shares. Bank of America increased their price objective on Bank of New York Mellon from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. 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. Wells Fargo & Company upped their price objective on shares of Bank of New York Mellon from $86.00 to $96.00 and gave the company an “equal weight” rating in a research note on Monday, March 3rd. StockNews.com cut shares of Bank of New York Mellon from a “buy” rating to a “hold” rating in a research note on Wednesday, February 19th. Finally, Morgan Stanley increased their price target on Bank of New York Mellon from $90.00 to $97.00 and gave the stock an “overweight” 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 company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $89.71.

Bank of New York Mellon Stock Performance

NYSE BK opened at $85.07 on Thursday. The business’s 50-day simple moving average is $85.31 and its 200-day simple moving average is $79.39. The firm has a market capitalization of $61.08 billion, a P/E ratio of 14.64, a P/E/G ratio of 0.97 and a beta of 1.06. The Bank of New York Mellon Co. has a 1-year low of $52.64 and a 1-year high of $90.34. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.69 and a quick ratio of 0.70.

Bank of New York Mellon (NYSE:BK) last released 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 during the quarter, compared to analyst estimates 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 quarterly revenue was up 11.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.28 earnings per share. 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Monday, January 27th were paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date was Monday, January 27th. Bank of New York Mellon’s dividend payout ratio is presently 32.36%.

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.