The Bank of New York Mellon Co. (NYSE:BK) Shares Sold by Schulhoff & Co. Inc.

Schulhoff & Co. Inc. lessened its stake in The Bank of New York Mellon Co. (NYSE:BK) by 1.3% during the fourth quarter, HoldingsChannel.com reports. The firm 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 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the company. Centricity Wealth Management LLC acquired a new position in shares of Bank of New York Mellon in the 4th quarter worth approximately $39,000. Ashton Thomas Securities LLC bought a new stake in Bank of New York Mellon during the third quarter valued at $46,000. Modus Advisors LLC acquired a new stake in shares of Bank of New York Mellon during the fourth quarter worth $49,000. Friedenthal Financial bought a new position in shares of Bank of New York Mellon in the 4th quarter worth about $56,000. Finally, Asset Dedication LLC boosted its holdings in shares of 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 buying an additional 585 shares during the period. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Bank of New York Mellon Stock Performance

Shares of NYSE BK opened at $86.97 on Friday. The Bank of New York Mellon Co. has a 1 year low of $52.64 and a 1 year high of $89.44. The firm has a market cap of $63.23 billion, a P/E ratio of 14.97, a PEG ratio of 0.97 and a beta of 1.08. The stock has a fifty day moving average price of $82.80 and a two-hundred day moving average price of $76.93. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.70 and a current ratio of 0.69.

Bank of New York Mellon (NYSE:BK) last announced its earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.66 billion. During the same quarter last year, the business posted $1.28 earnings per share. The company’s quarterly revenue was up 11.2% on a year-over-year basis. Research analysts forecast 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 firm also recently announced a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Monday, January 27th were issued a dividend of $0.47 per share. 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 payout ratio is 32.36%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on BK shares. Evercore ISI increased their price objective 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. UBS Group increased their price target on Bank of New York Mellon from $88.00 to $94.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. Truist Financial boosted their price objective on Bank of New York Mellon from $91.00 to $93.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Barclays upped their price objective on Bank of New York Mellon from $102.00 to $104.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Bank of New York Mellon from $94.00 to $98.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, Bank of New York Mellon currently has a consensus 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.