The Bank of New York Mellon Co. (NYSE:BK) Shares Sold by Deseret Mutual Benefit Administrators

Deseret Mutual Benefit Administrators lowered its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 9.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,940 shares of the bank’s stock after selling 196 shares during the period. Deseret Mutual Benefit Administrators’ holdings in Bank of New York Mellon were worth $149,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Centricity Wealth Management LLC purchased a new position in shares of Bank of New York Mellon during the fourth quarter worth $39,000. Fortitude Family Office LLC boosted its holdings in Bank of New York Mellon by 130.6% during the 3rd quarter. Fortitude Family Office LLC now owns 611 shares of the bank’s stock valued at $44,000 after acquiring an additional 346 shares during the period. Modus Advisors LLC acquired a new position in Bank of New York Mellon in the 4th quarter valued at about $49,000. Ashton Thomas Securities LLC purchased a new stake in Bank of New York Mellon during the third quarter worth about $46,000. Finally, Friedenthal Financial acquired a new stake in shares of Bank of New York Mellon during the fourth quarter worth about $56,000. Institutional investors and hedge funds own 85.31% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on BK. Morgan Stanley upped their target price on shares of Bank of New York Mellon from $90.00 to $97.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Keefe, Bruyette & Woods upped their price objective on Bank of New York Mellon from $87.00 to $96.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. Truist Financial boosted their target price on Bank of New York Mellon from $91.00 to $93.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Wolfe Research lowered Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. Finally, Barclays upped their target price on shares of Bank of New York Mellon from $102.00 to $104.00 and gave the stock an “overweight” rating in a research note 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. According to data from MarketBeat, Bank of New York Mellon has an average rating of “Moderate Buy” and an average price target of $88.00.

Bank of New York Mellon Stock Performance

Shares of BK opened at $87.29 on Friday. The company’s 50 day simple moving average is $82.04 and its 200-day simple moving average is $76.26. The firm has a market cap of $63.46 billion, a PE ratio of 15.02, a price-to-earnings-growth ratio of 1.00 and a beta of 1.08. The Bank of New York Mellon Co. has a 12-month low of $52.64 and a 12-month high of $89.44. The company has a current ratio of 0.69, a quick ratio of 0.70 and a debt-to-equity ratio of 0.83.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings data on Wednesday, January 15th. The bank reported $1.72 earnings per share (EPS) 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 the consensus estimate of $4.66 billion. During the same period last year, the firm posted $1.28 EPS. Bank of New York Mellon’s revenue for the quarter was up 11.2% on a year-over-year basis. As a group, equities analysts predict that The Bank of New York Mellon Co. will post 6.93 EPS for the current year.

Bank of New York Mellon Announces Dividend

The business also recently disclosed 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. This represents a $1.88 annualized dividend and a yield of 2.15%. The ex-dividend date was Monday, January 27th. Bank of New York Mellon’s dividend payout ratio is presently 32.36%.

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.