Spinnaker Trust Has $298,000 Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Spinnaker Trust lessened its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 3.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,880 shares of the bank’s stock after selling 140 shares during the period. Spinnaker Trust’s holdings in Bank of New York Mellon were worth $298,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. McClarren Financial Advisors Inc. raised its holdings in Bank of New York Mellon by 586.4% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 405 shares of the bank’s stock worth $29,000 after buying an additional 346 shares during the period. Fortitude Family Office LLC raised 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 worth $44,000 after buying an additional 346 shares during the period. Modus Advisors LLC acquired a new position in shares of Bank of New York Mellon in the 4th quarter valued at about $49,000. Ashton Thomas Securities LLC acquired a new position in shares of Bank of New York Mellon in the 3rd quarter valued at about $46,000. Finally, Friedenthal Financial acquired a new position in shares of Bank of New York Mellon in the 4th quarter valued at about $56,000. Institutional investors and hedge funds own 85.31% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on BK. Keefe, Bruyette & Woods upped their target price on Bank of New York Mellon from $87.00 to $96.00 and gave the company an “outperform” rating in a report on Tuesday, December 3rd. Truist Financial upped their target price on 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. Wells Fargo & Company upped their target price on Bank of New York Mellon from $82.00 to $86.00 and gave the company an “equal weight” rating in a report on Thursday, January 16th. Citigroup upped their target price on Bank of New York Mellon from $75.00 to $82.00 and gave the company a “neutral” rating in a report on Monday, November 25th. Finally, Evercore ISI boosted 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 note on Thursday, January 16th. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $88.00.

Bank of New York Mellon Stock Up 1.2 %

Shares of Bank of New York Mellon stock opened at $87.94 on Friday. The stock has a market capitalization of $63.94 billion, a P/E ratio of 15.14, a PEG ratio of 0.98 and a beta of 1.08. 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 has a 50 day moving average price of $81.23 and a two-hundred day moving average price of $75.43. The Bank of New York Mellon Co. has a 12-month low of $52.64 and a 12-month high of $88.25.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings results on Wednesday, January 15th. The bank reported $1.72 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.18. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. The company had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.66 billion. During the same period in the previous year, the company earned $1.28 earnings per share. The company’s quarterly revenue was up 11.2% compared to the same quarter last year. Equities analysts expect that The Bank of New York Mellon Co. will post 6.89 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

The firm 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. The ex-dividend date was Monday, January 27th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.14%. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 32.36%.

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.