Poehling Capital Management INC. Lowers Stock Holdings in The Bank of New York Mellon Corporation $BK

Poehling Capital Management INC. reduced its position in The Bank of New York Mellon Corporation (NYSE:BK) by 1.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 48,204 shares of the bank’s stock after selling 513 shares during the quarter. Poehling Capital Management INC.’s holdings in Bank of New York Mellon were worth $4,392,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Tiemann Investment Advisors LLC boosted its holdings in Bank of New York Mellon by 2.9% in the 2nd quarter. Tiemann Investment Advisors LLC now owns 3,492 shares of the bank’s stock valued at $318,000 after purchasing an additional 100 shares during the period. Hemington Wealth Management raised its position in shares of Bank of New York Mellon by 6.3% in the second quarter. Hemington Wealth Management now owns 1,730 shares of the bank’s stock worth $157,000 after buying an additional 102 shares in the last quarter. Vestmark Advisory Solutions Inc. boosted its stake in Bank of New York Mellon by 4.0% during the second quarter. Vestmark Advisory Solutions Inc. now owns 2,771 shares of the bank’s stock valued at $252,000 after buying an additional 107 shares during the period. Confluence Wealth Services Inc. boosted its stake in Bank of New York Mellon by 1.0% during the second quarter. Confluence Wealth Services Inc. now owns 11,761 shares of the bank’s stock valued at $1,072,000 after buying an additional 111 shares during the period. Finally, Leonard Rickey Investment Advisors P.L.L.C. grew its position in Bank of New York Mellon by 2.2% during the second quarter. Leonard Rickey Investment Advisors P.L.L.C. now owns 5,094 shares of the bank’s stock worth $464,000 after buying an additional 112 shares in the last quarter. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Trading Down 0.4%

BK stock opened at $110.60 on Monday. The company has a market capitalization of $77.13 billion, a PE ratio of 15.96, a price-to-earnings-growth ratio of 0.98 and a beta of 1.13. 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 Bank of New York Mellon Corporation has a one year low of $70.46 and a one year high of $113.74. The company’s 50 day moving average price is $107.70 and its two-hundred day moving average price is $99.26.

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

Bank of New York Mellon Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 7th. Stockholders of record on Monday, October 27th were paid a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend was Monday, October 27th. Bank of New York Mellon’s dividend payout ratio (DPR) is 30.59%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on BK shares. Truist Financial upped their target price on Bank of New York Mellon from $118.00 to $119.00 and gave the stock a “hold” rating in a research note on Friday, October 17th. Citigroup upped their price objective on shares of Bank of New York Mellon from $92.00 to $105.00 and gave the stock a “neutral” rating in a research report on Friday, September 5th. Evercore ISI lifted their target price on shares of Bank of New York Mellon from $91.00 to $110.00 and gave the company an “in-line” rating in a research report on Tuesday, September 30th. The Goldman Sachs Group boosted their price target on shares of Bank of New York Mellon from $106.00 to $120.00 and gave the stock a “buy” rating in a research note on Monday, October 6th. Finally, TD Cowen raised their price objective on shares of Bank of New York Mellon from $130.00 to $133.00 and gave the company a “buy” rating in a research report on Monday, October 20th. Ten equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $111.29.

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.