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

Wakefield Asset Management LLLP decreased its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 1.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 63,683 shares of the bank’s stock after selling 892 shares during the quarter. Bank of New York Mellon makes up about 1.7% of Wakefield Asset Management LLLP’s investment portfolio, making the stock its 6th largest position. Wakefield Asset Management LLLP’s holdings in Bank of New York Mellon were worth $4,893,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Centricity Wealth Management LLC bought a new stake in shares of Bank of New York Mellon during the fourth quarter worth $39,000. Ashton Thomas Securities LLC acquired a new position in Bank of New York Mellon during the 3rd quarter valued at about $46,000. Modus Advisors LLC bought a new position in shares of Bank of New York Mellon in the 4th quarter valued at about $49,000. Friedenthal Financial acquired a new stake in shares of Bank of New York Mellon during the 4th quarter worth approximately $56,000. Finally, Asset Dedication LLC lifted its holdings in Bank of New York Mellon by 342.1% in the fourth 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. Institutional investors and hedge funds own 85.31% of the company’s stock.

Bank of New York Mellon Stock Up 0.7 %

NYSE:BK opened at $86.97 on Friday. The company has a market cap of $63.23 billion, a PE ratio of 14.97, a PEG ratio of 0.97 and a beta of 1.08. The stock has a 50-day simple moving average of $82.80 and a 200 day simple moving average 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. 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 posted its quarterly earnings data on Wednesday, January 15th. The bank reported $1.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $4.66 billion. During the same period last year, the company earned $1.28 earnings per share. The firm’s revenue was up 11.2% compared to the same quarter last year. On average, sell-side analysts expect 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 business also recently announced a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Monday, January 27th were given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date was Monday, January 27th. Bank of New York Mellon’s dividend payout ratio is currently 32.36%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Barclays upped their target price on shares of Bank of New York Mellon from $102.00 to $104.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Evercore ISI increased their target price on Bank of New York Mellon from $79.00 to $83.00 and gave the company an “in-line” rating in a research note on Thursday, January 16th. Wolfe Research lowered Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. Truist Financial increased their price target on shares of 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. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Bank of New York Mellon from $87.00 to $96.00 and gave the company an “outperform” rating in a report on Tuesday, December 3rd. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, Bank of New York Mellon has an average rating of “Moderate Buy” and an average price target of $88.00.

Bank of New York Mellon 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.