Bahl & Gaynor Inc. Decreases Stock Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Bahl & Gaynor Inc. reduced its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK) by 16.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,313 shares of the bank’s stock after selling 1,239 shares during the quarter. Bahl & Gaynor Inc.’s holdings in Bank of New York Mellon were worth $485,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. United Advisor Group LLC purchased a new stake in shares of Bank of New York Mellon during the 3rd quarter worth approximately $595,000. Czech National Bank increased its position in Bank of New York Mellon by 4.9% in the fourth quarter. Czech National Bank now owns 157,645 shares of the bank’s stock worth $12,112,000 after buying an additional 7,316 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Bank of New York Mellon by 1.7% in the third quarter. Principal Financial Group Inc. now owns 883,853 shares of the bank’s stock valued at $63,514,000 after buying an additional 14,916 shares during the period. Chase Investment Counsel Corp lifted its position in shares of Bank of New York Mellon by 67.2% during the 3rd quarter. Chase Investment Counsel Corp now owns 83,530 shares of the bank’s stock valued at $6,002,000 after buying an additional 33,558 shares during the last quarter. Finally, HighTower Advisors LLC grew its stake in shares of Bank of New York Mellon by 130.1% during the 3rd quarter. HighTower Advisors LLC now owns 326,372 shares of the bank’s stock worth $23,449,000 after acquiring an additional 184,560 shares during the period. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Price Performance

Bank of New York Mellon stock opened at $86.61 on Thursday. The stock has a market cap of $62.04 billion, a price-to-earnings ratio of 14.91, a PEG ratio of 0.97 and a beta of 1.06. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.83. The business has a 50-day simple moving average of $83.56 and a 200 day simple moving average of $77.67. The Bank of New York Mellon Co. has a 52 week low of $52.64 and a 52 week high of $90.34.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings data on Wednesday, January 15th. The bank reported $1.72 EPS for the quarter, topping the consensus estimate of $1.54 by $0.18. The company had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.66 billion. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. Bank of New York Mellon’s revenue was up 11.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.28 earnings per share. On average, research analysts forecast that The Bank of New York Mellon Co. will post 6.96 earnings per share for the current fiscal year.

Bank of New York Mellon Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Monday, January 27th were issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date was Monday, January 27th. Bank of New York Mellon’s payout ratio is 32.36%.

Analysts Set New Price Targets

BK has been the topic of a number of research reports. Truist Financial boosted their price objective on Bank of New York Mellon from $91.00 to $93.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. 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 research note on Thursday, January 16th. Wolfe Research lowered shares of Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. Citigroup increased their target price on 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. Finally, Evercore ISI lifted their price target on Bank of New York Mellon from $79.00 to $83.00 and gave the company an “in-line” rating in a research report on Thursday, January 16th. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $88.71.

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.