Fiduciary Family Office LLC Lowers Holdings in The Bank of New York Mellon Corporation $BK

Fiduciary Family Office LLC decreased its stake in The Bank of New York Mellon Corporation (NYSE:BK) by 17.5% during the second quarter, Holdings Channel reports. The institutional investor owned 19,234 shares of the bank’s stock after selling 4,069 shares during the quarter. Fiduciary Family Office LLC’s holdings in Bank of New York Mellon were worth $1,752,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Alpine Bank Wealth Management purchased a new stake in shares of Bank of New York Mellon in the first quarter worth about $25,000. Cornerstone Planning Group LLC boosted its stake in shares of Bank of New York Mellon by 100.0% in the first quarter. Cornerstone Planning Group LLC now owns 392 shares of the bank’s stock worth $30,000 after buying an additional 196 shares during the last quarter. Orion Capital Management LLC purchased a new stake in shares of Bank of New York Mellon in the first quarter worth about $32,000. Hoey Investments Inc. purchased a new stake in shares of Bank of New York Mellon in the second quarter worth about $32,000. Finally, Golden State Wealth Management LLC boosted its stake in shares of Bank of New York Mellon by 226.4% in the first quarter. Golden State Wealth Management LLC now owns 408 shares of the bank’s stock worth $34,000 after buying an additional 283 shares during the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Stock Performance

NYSE BK opened at $108.50 on Tuesday. The company has a market cap of $76.52 billion, a PE ratio of 15.66, a price-to-earnings-growth ratio of 0.98 and a beta of 1.13. The stock’s 50 day simple moving average is $105.70 and its 200-day simple moving average is $94.89. The Bank of New York Mellon Corporation has a 1-year low of $70.46 and a 1-year high of $110.87. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.70 and a quick ratio of 0.72.

Bank of New York Mellon (NYSE:BK) last released its earnings results on Tuesday, March 26th. The bank reported $1.30 earnings per share for the quarter. The business had revenue of $4.38 billion for 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, equities research analysts anticipate that The Bank of New York Mellon Corporation will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 7th. Stockholders of record on Monday, October 27th will be given a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Monday, October 27th. Bank of New York Mellon’s dividend payout ratio (DPR) is 30.59%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Wells Fargo & Company upped their target price on Bank of New York Mellon from $100.00 to $109.00 and gave the stock an “equal weight” rating in a research note on Friday. Weiss Ratings reiterated a “buy (b+)” rating on shares of Bank of New York Mellon in a research report on Wednesday, October 8th. Truist Financial increased their price target on Bank of New York Mellon from $118.00 to $119.00 and gave the stock a “hold” rating in a research report on Friday. Morgan Stanley increased their price target on Bank of New York Mellon from $101.00 to $116.00 and gave the stock an “overweight” rating in a research report on Monday, September 29th. Finally, TD Cowen increased their price target on Bank of New York Mellon from $130.00 to $133.00 and gave the stock a “buy” rating in a research report on Monday. Ten research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $111.29.

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.