Clifford Swan Investment Counsel LLC Sells 4,148 Shares of The Bank of New York Mellon Corporation $BK

Clifford Swan Investment Counsel LLC trimmed its stake in The Bank of New York Mellon Corporation (NYSE:BK) by 4.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 100,588 shares of the bank’s stock after selling 4,148 shares during the period. Clifford Swan Investment Counsel LLC’s holdings in Bank of New York Mellon were worth $9,165,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Forum Financial Management LP increased its stake in Bank of New York Mellon by 2.2% during the second quarter. Forum Financial Management LP now owns 20,953 shares of the bank’s stock valued at $1,909,000 after acquiring an additional 454 shares during the period. Ethic Inc. lifted its position in shares of Bank of New York Mellon by 6.0% in the 2nd quarter. Ethic Inc. now owns 184,936 shares of the bank’s stock worth $16,862,000 after acquiring an additional 10,404 shares during the period. Meadow Creek Wealth Advisors LLC acquired a new stake in shares of Bank of New York Mellon during the 2nd quarter worth approximately $214,000. Rehmann Capital Advisory Group bought a new stake in shares of Bank of New York Mellon during the second quarter valued at approximately $274,000. Finally, Exencial Wealth Advisors LLC increased its position in shares of Bank of New York Mellon by 8.7% during the second quarter. Exencial Wealth Advisors LLC now owns 3,601 shares of the bank’s stock valued at $328,000 after purchasing an additional 288 shares during the period. Institutional investors and hedge funds own 85.31% of the company’s stock.

Bank of New York Mellon Price Performance

Shares of BK opened at $106.95 on Thursday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.72 and a current ratio of 0.70. The firm has a market capitalization of $75.42 billion, a PE ratio of 15.43, a P/E/G ratio of 0.98 and a beta of 1.13. The stock has a 50 day simple moving average of $105.87 and a 200 day simple moving average of $95.06. The Bank of New York Mellon Corporation has a 52-week low of $70.46 and a 52-week high of $110.87.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings results on Tuesday, March 26th. The bank reported $1.30 earnings per share for the quarter. Bank of New York Mellon had a net margin of 12.86% and a return on equity of 14.03%. The firm had revenue of $4.38 billion for the quarter. Sell-side analysts predict that The Bank of New York Mellon Corporation will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 7th. Shareholders of record on Monday, October 27th will be paid a $0.53 dividend. The ex-dividend date of this dividend is Monday, October 27th. This represents a $2.12 annualized dividend and a dividend yield of 2.0%. Bank of New York Mellon’s dividend payout ratio (DPR) is currently 30.59%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on BK. Truist Financial boosted their price target on shares of Bank of New York Mellon from $118.00 to $119.00 and gave the company a “hold” rating in a report on Friday, October 17th. TD Cowen boosted their target price on Bank of New York Mellon from $130.00 to $133.00 and gave the stock a “buy” rating in a report on Monday. Evercore ISI increased their target price on Bank of New York Mellon from $91.00 to $110.00 and gave the stock an “in-line” rating in a report on Tuesday, September 30th. Barclays lifted their price target on Bank of New York Mellon from $104.00 to $120.00 and gave the company an “overweight” rating in a report on Friday, October 17th. Finally, Morgan Stanley increased their price objective on shares of Bank of New York Mellon from $101.00 to $116.00 and gave the stock an “overweight” rating in a report on Monday, September 29th. Ten investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, Bank of New York Mellon currently has a consensus rating of “Moderate Buy” and a consensus price target of $111.29.

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.