Oak Associates Ltd. OH Sells 1,417 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Oak Associates Ltd. OH cut its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 1.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 105,760 shares of the bank’s stock after selling 1,417 shares during the period. Oak Associates Ltd. OH’s holdings in Bank of New York Mellon were worth $8,126,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of BK. Graney & King LLC bought a new position in Bank of New York Mellon during the fourth quarter valued at about $35,000. Centricity Wealth Management LLC bought a new stake in Bank of New York Mellon in the fourth quarter worth about $39,000. TCTC Holdings LLC boosted its stake in Bank of New York Mellon by 257.5% in the fourth quarter. TCTC Holdings LLC now owns 597 shares of the bank’s stock valued at $46,000 after acquiring an additional 430 shares during the last quarter. Modus Advisors LLC bought a new position in shares of Bank of New York Mellon during the 4th quarter valued at approximately $49,000. Finally, Friedenthal Financial purchased a new stake in shares of Bank of New York Mellon during the 4th quarter worth approximately $56,000. 85.31% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BK has been the subject of several research reports. Bank of America increased their price objective on 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. Morgan Stanley decreased their price objective on Bank of New York Mellon from $99.00 to $98.00 and set an “overweight” rating for the company in a report on Wednesday, April 2nd. UBS Group upped their price objective on shares of Bank of New York Mellon from $88.00 to $94.00 and gave the company a “buy” rating in a report on Tuesday, January 21st. Truist Financial reduced their target price on shares of Bank of New York Mellon from $93.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, April 4th. Finally, Citigroup upped their price target on shares of Bank of New York Mellon from $82.00 to $85.00 and gave the company a “neutral” rating in a research note on Monday, March 24th. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.86.

Bank of New York Mellon Price Performance

Shares of NYSE BK opened at $76.46 on Friday. The firm has a market capitalization of $54.89 billion, a P/E ratio of 13.16, a P/E/G ratio of 0.97 and a beta of 1.03. 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 stock’s 50-day simple moving average is $83.77 and its two-hundred day simple moving average is $80.14. The Bank of New York Mellon Co. has a twelve month low of $52.64 and a twelve month high of $90.34.

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, topping the consensus estimate of $1.54 by $0.18. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The company had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.66 billion. During the same period in the prior year, the business earned $1.28 earnings per share. Bank of New York Mellon’s revenue for the quarter was up 11.2% compared to the same quarter last year. As a group, equities analysts anticipate that The Bank of New York Mellon Co. will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Monday, January 27th were issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date of this dividend was Monday, January 27th. Bank of New York Mellon’s dividend payout ratio is currently 32.36%.

Bank of New York Mellon Company 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.