Woodward Diversified Capital LLC Has $353,000 Position in The Bank of New York Mellon Co. (NYSE:BK)

Woodward Diversified Capital LLC trimmed its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 37.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 4,591 shares of the bank’s stock after selling 2,758 shares during the period. Woodward Diversified Capital LLC’s holdings in Bank of New York Mellon were worth $353,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in BK. Atomi Financial Group Inc. grew its holdings in Bank of New York Mellon by 30.2% during the 3rd quarter. Atomi Financial Group Inc. now owns 8,489 shares of the bank’s stock worth $610,000 after acquiring an additional 1,971 shares during the last quarter. Hexagon Capital Partners LLC raised its stake in shares of Bank of New York Mellon by 11.5% during the third quarter. Hexagon Capital Partners LLC now owns 1,966 shares of the bank’s stock valued at $141,000 after acquiring an additional 202 shares during the last quarter. Wedmont Private Capital lifted its holdings in shares of Bank of New York Mellon by 9.4% during the third quarter. Wedmont Private Capital now owns 5,724 shares of the bank’s stock worth $415,000 after purchasing an additional 493 shares during the period. Quotient Wealth Partners LLC acquired a new stake in Bank of New York Mellon in the third quarter valued at $205,000. Finally, Tobam raised its position in Bank of New York Mellon by 17.0% during the 3rd quarter. Tobam now owns 6,836 shares of the bank’s stock worth $491,000 after purchasing an additional 991 shares during the last quarter. 85.31% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

BK has been the topic of a number of analyst reports. Truist Financial upped their price target 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. Morgan Stanley increased their target price on shares of Bank of New York Mellon from $90.00 to $97.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Citigroup boosted their price target on shares of Bank of New York Mellon from $75.00 to $82.00 and gave the stock a “neutral” rating in a research report on Monday, November 25th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Bank of New York Mellon from $94.00 to $98.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Finally, Wells Fargo & Company boosted their target price on shares of Bank of New York Mellon from $82.00 to $86.00 and gave the company an “equal weight” rating in a report on Thursday, January 16th. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $88.00.

Bank of New York Mellon Price Performance

BK stock opened at $86.15 on Friday. The Bank of New York Mellon Co. has a 1 year low of $52.64 and a 1 year high of $87.70. The stock has a market capitalization of $62.64 billion, a PE ratio of 14.83, a price-to-earnings-growth ratio of 0.98 and a beta of 1.08. The company’s 50-day moving average is $80.61 and its 200-day moving average is $74.51. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.69 and a quick ratio of 0.70.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings data on Wednesday, January 15th. The bank reported $1.72 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.66 billion. During the same quarter last year, the firm posted $1.28 earnings per share. The company’s revenue for the quarter was up 11.2% compared to the same quarter last year. Equities research analysts expect that The Bank of New York Mellon Co. will post 6.86 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Monday, January 27th were paid a dividend of $0.47 per share. 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 2.18%. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 32.36%.

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.