Clifford Swan Investment Counsel LLC Sells 4,148 Shares of The Bank of New York Mellon Corporation $BK

Clifford Swan Investment Counsel LLC decreased its holdings in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 4.0% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 100,588 shares of the bank’s stock after selling 4,148 shares during the period. Clifford Swan Investment Counsel LLC’s holdings in Bank of New York Mellon were worth $9,165,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Ameriprise Financial Inc. grew its holdings in shares of Bank of New York Mellon by 1.9% in the 1st quarter. Ameriprise Financial Inc. now owns 12,043,601 shares of the bank’s stock valued at $1,010,093,000 after acquiring an additional 221,613 shares in the last quarter. Nuveen LLC acquired a new position in Bank of New York Mellon during the first quarter valued at approximately $773,627,000. Invesco Ltd. grew its stake in Bank of New York Mellon by 8.8% in the first quarter. Invesco Ltd. now owns 8,264,176 shares of the bank’s stock valued at $693,116,000 after purchasing an additional 667,966 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Bank of New York Mellon by 5.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,125,577 shares of the bank’s stock valued at $681,492,000 after purchasing an additional 436,100 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its position in shares of Bank of New York Mellon by 26.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 5,053,744 shares of the bank’s stock worth $423,858,000 after purchasing an additional 1,052,145 shares during the last quarter. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on BK. Wells Fargo & Company increased their price objective on Bank of New York Mellon from $100.00 to $109.00 and gave the company an “equal weight” rating in a report on Friday, October 17th. Evercore ISI lifted their price objective on shares of Bank of New York Mellon from $91.00 to $110.00 and gave the company an “in-line” rating in a research report on Tuesday, September 30th. BMO Capital Markets assumed coverage on shares of Bank of New York Mellon in a research note on Friday, October 3rd. They set an “outperform” rating and a $125.00 price objective on the stock. Truist Financial upped their target price on shares of Bank of New York Mellon from $118.00 to $119.00 and gave the company a “hold” rating in a report on Friday, October 17th. Finally, Morgan Stanley lifted their price target on Bank of New York Mellon from $101.00 to $116.00 and gave the stock an “overweight” rating in a report on Monday, September 29th. Ten research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $111.29.

Bank of New York Mellon Stock Down 0.0%

Bank of New York Mellon stock opened at $106.95 on Thursday. The company’s 50-day moving average price is $105.87 and its two-hundred day moving average price is $95.06. The company has a quick ratio of 0.72, a current ratio of 0.70 and a debt-to-equity ratio of 0.83. The stock has a market cap of $75.42 billion, a P/E ratio of 15.43, a P/E/G ratio of 0.98 and a beta of 1.13. The Bank of New York Mellon Corporation has a twelve month low of $70.46 and a twelve month high of $110.87.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings data on Tuesday, March 26th. The bank reported $1.30 earnings per share (EPS) for the quarter. The company had revenue of $4.38 billion during the quarter. Bank of New York Mellon had a return on equity of 14.03% and a net margin of 12.86%. As a group, analysts expect that The Bank of New York Mellon Corporation 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 will be paid on Friday, November 7th. Shareholders of record on Monday, October 27th will be issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Monday, October 27th. Bank of New York Mellon’s dividend payout ratio is currently 30.59%.

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.