Alpha Omega Wealth Management LLC Trims Stock Position in The Bank of New York Mellon Co. (NYSE:BK)

Alpha Omega Wealth Management LLC trimmed its stake in The Bank of New York Mellon Co. (NYSE:BK) by 1.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 54,755 shares of the bank’s stock after selling 953 shares during the period. Alpha Omega Wealth Management LLC’s holdings in Bank of New York Mellon were worth $4,207,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. increased its stake in shares of Bank of New York Mellon by 2.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 37,093 shares of the bank’s stock worth $2,221,000 after acquiring an additional 1,023 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in shares of Bank of New York Mellon by 66.8% during the second quarter. NewEdge Advisors LLC now owns 28,596 shares of the bank’s stock valued at $1,713,000 after purchasing an additional 11,457 shares during the last quarter. EP Wealth Advisors LLC bought a new stake in shares of Bank of New York Mellon in the 2nd quarter worth approximately $234,000. Sanctuary Advisors LLC bought a new position in Bank of New York Mellon during the 2nd quarter valued at approximately $5,234,000. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its stake in Bank of New York Mellon by 0.9% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 387,500 shares of the bank’s stock valued at $23,207,000 after buying an additional 3,500 shares during the last quarter. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Price Performance

BK stock opened at $86.01 on Friday. The company has a market capitalization of $62.53 billion, a PE ratio of 14.80, a price-to-earnings-growth ratio of 0.98 and a beta of 1.08. The company’s fifty day moving average price is $80.29 and its 200-day moving average price is $73.91. The Bank of New York Mellon Co. has a one year low of $52.64 and a one year high of $87.70. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.70 and a current ratio of 0.69.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings data on Wednesday, January 15th. The bank reported $1.72 EPS for the quarter, beating 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 business had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.66 billion. During the same quarter in the prior year, the firm earned $1.28 EPS. The business’s revenue was up 11.2% on a year-over-year basis. On average, equities analysts anticipate that The Bank of New York Mellon Co. will post 6.86 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Monday, January 27th will be paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date is Monday, January 27th. Bank of New York Mellon’s payout ratio is 32.36%.

Analysts Set New Price Targets

Several research firms have recently issued reports on BK. Citigroup lifted their price target 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. Truist Financial increased their price target on shares of Bank of New York Mellon from $91.00 to $93.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Royal Bank of Canada restated a “sector perform” rating and issued a $79.00 price objective on shares of Bank of New York Mellon in a report on Monday, October 14th. Wolfe Research lowered Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. Finally, JPMorgan Chase & Co. upped their price target on Bank of New York Mellon from $69.00 to $77.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, Bank of New York Mellon has a consensus rating of “Moderate Buy” and an average price target of $88.00.

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.