WealthTrust Axiom LLC Has $972,000 Stock Holdings in The Bank of New York Mellon Co. (NYSE:BK)

WealthTrust Axiom LLC trimmed its stake in The Bank of New York Mellon Co. (NYSE:BK) by 7.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,654 shares of the bank’s stock after selling 1,072 shares during the quarter. WealthTrust Axiom LLC’s holdings in Bank of New York Mellon were worth $972,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in BK. Norges Bank acquired a new stake in Bank of New York Mellon in the 4th quarter valued at about $1,150,462,000. FMR LLC raised its stake in Bank of New York Mellon by 19.3% in the fourth quarter. FMR LLC now owns 23,071,584 shares of the bank’s stock valued at $1,772,590,000 after buying an additional 3,732,862 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Bank of New York Mellon in the fourth quarter valued at approximately $90,955,000. Arrowstreet Capital Limited Partnership boosted its stake in shares of Bank of New York Mellon by 17.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 7,751,219 shares of the bank’s stock worth $595,526,000 after acquiring an additional 1,125,493 shares during the period. Finally, APG Asset Management N.V. acquired a new position in shares of Bank of New York Mellon during the 4th quarter worth approximately $29,923,000. Institutional investors and hedge funds own 85.31% of the company’s stock.

Analyst Upgrades and Downgrades

BK has been the subject of several research reports. Bank of America raised their price target 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. Royal Bank of Canada restated a “sector perform” rating and set a $90.00 target price on shares of Bank of New York Mellon in a research note on Monday, March 17th. Barclays upped their price target on shares of Bank of New York Mellon from $102.00 to $104.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. StockNews.com downgraded shares of Bank of New York Mellon from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Finally, Truist Financial decreased their target price on Bank of New York Mellon from $93.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, April 4th. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, Bank of New York Mellon has a consensus rating of “Moderate Buy” and an average price target of $89.86.

Bank of New York Mellon Price Performance

Shares of NYSE BK opened at $77.75 on Friday. The business has a fifty day moving average price of $83.63 and a two-hundred day moving average price of $80.18. The stock has a market capitalization of $55.82 billion, a PE ratio of 13.38, a P/E/G ratio of 0.97 and a beta of 1.03. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.69 and a quick ratio of 0.70. The Bank of New York Mellon Co. has a fifty-two week low of $52.64 and a fifty-two week high of $90.34.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings results on Friday, April 11th. The bank reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.50 by $0.08. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. The business had revenue of $4.79 billion during the quarter, compared to the consensus estimate of $4.76 billion. During the same quarter in the previous year, the firm earned $1.29 earnings per share. Bank of New York Mellon’s revenue for the quarter was up 5.9% compared to the same quarter last year. As a group, equities analysts predict 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 company also recently declared 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 2.42%. The ex-dividend date of this dividend was Monday, January 27th. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 30.62%.

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.