Vaughan David Investments LLC IL Sells 525 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Vaughan David Investments LLC IL decreased its stake in The Bank of New York Mellon Co. (NYSE:BK) by 4.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,112 shares of the bank’s stock after selling 525 shares during the period. Vaughan David Investments LLC IL’s holdings in Bank of New York Mellon were worth $777,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Blue Trust Inc. lifted its position in Bank of New York Mellon by 95.4% in the 3rd quarter. Blue Trust Inc. now owns 1,673 shares of the bank’s stock worth $120,000 after buying an additional 817 shares during the last quarter. Arkadios Wealth Advisors bought a new stake in shares of Bank of New York Mellon in the 3rd quarter worth approximately $339,000. PFG Investments LLC lifted its holdings in shares of Bank of New York Mellon by 15.7% in the 3rd quarter. PFG Investments LLC now owns 5,424 shares of the bank’s stock worth $390,000 after acquiring an additional 735 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Bank of New York Mellon by 39.4% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 89,421 shares of the bank’s stock valued at $6,426,000 after purchasing an additional 25,294 shares during the last quarter. Finally, Concord Wealth Partners raised its position in Bank of New York Mellon by 150.5% in the 3rd quarter. Concord Wealth Partners now owns 754 shares of the bank’s stock worth $54,000 after purchasing an additional 453 shares during the period. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Trading Down 1.5 %

Shares of BK opened at $86.70 on Wednesday. The Bank of New York Mellon Co. has a 1-year low of $52.64 and a 1-year high of $89.44. The company has a current ratio of 0.69, a quick ratio of 0.70 and a debt-to-equity ratio of 0.83. The firm’s 50-day moving average price is $82.38 and its 200-day moving average price is $76.80. The firm has a market capitalization of $63.04 billion, a price-to-earnings ratio of 14.92, a PEG ratio of 0.97 and a beta of 1.08.

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 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 for the quarter, compared to analysts’ expectations of $4.66 billion. During the same period in the previous year, the firm posted $1.28 EPS. The business’s revenue was up 11.2% on a year-over-year basis. Sell-side analysts anticipate 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 company also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Monday, January 27th were issued a $0.47 dividend. The ex-dividend date of this dividend was Monday, January 27th. This represents a $1.88 dividend on an annualized basis and a yield of 2.17%. Bank of New York Mellon’s dividend payout ratio (DPR) is 32.36%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on BK shares. Keefe, Bruyette & Woods raised their price objective on Bank of New York Mellon from $87.00 to $96.00 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. Evercore ISI raised their price target on 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. Wolfe Research cut Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. Deutsche Bank Aktiengesellschaft increased their price objective 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. Finally, Bank of America upped their price target on shares of Bank of New York Mellon from $90.00 to $95.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Six research analysts have rated the stock with a hold rating and ten have given 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 an average 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.