The Bank of New York Mellon Corporation $BK Shares Sold by Burney Co.

Burney Co. lowered its position in The Bank of New York Mellon Corporation (NYSE:BK) by 20.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 102,458 shares of the bank’s stock after selling 26,876 shares during the quarter. Burney Co.’s holdings in Bank of New York Mellon were worth $11,164,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Leonard Rickey Investment Advisors P.L.L.C. increased its holdings in shares of Bank of New York Mellon by 1.9% during the 3rd quarter. Leonard Rickey Investment Advisors P.L.L.C. now owns 5,192 shares of the bank’s stock worth $566,000 after buying an additional 98 shares during the last quarter. Tiemann Investment Advisors LLC increased its stake in Bank of New York Mellon by 2.9% during the second quarter. Tiemann Investment Advisors LLC now owns 3,492 shares of the bank’s stock worth $318,000 after acquiring an additional 100 shares during the last quarter. Cary Street Partners Investment Advisory LLC increased its stake in Bank of New York Mellon by 13.7% during the second quarter. Cary Street Partners Investment Advisory LLC now owns 828 shares of the bank’s stock worth $75,000 after acquiring an additional 100 shares during the last quarter. Hemington Wealth Management raised its position in 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 valued at $157,000 after purchasing an additional 102 shares during the period. Finally, Summit Financial Wealth Advisors LLC lifted its stake in shares of Bank of New York Mellon by 1.8% in the 3rd quarter. Summit Financial Wealth Advisors LLC now owns 5,702 shares of the bank’s stock valued at $609,000 after purchasing an additional 103 shares during the last quarter. 85.31% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BK has been the subject of a number of recent analyst reports. Citigroup raised their price objective on 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. Morgan Stanley boosted their price target on shares of Bank of New York Mellon from $118.00 to $124.00 and gave the company an “overweight” rating in a research note on Wednesday, December 17th. BMO Capital Markets began coverage on shares of Bank of New York Mellon in a research report on Friday, October 3rd. They set an “outperform” rating and a $125.00 price objective for the company. Evercore ISI boosted their target price on 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. Finally, The Goldman Sachs Group upped their price target on 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. Ten equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $111.86.

Bank of New York Mellon Price Performance

Bank of New York Mellon stock opened at $117.42 on Friday. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.83. The Bank of New York Mellon Corporation has a 52-week low of $70.46 and a 52-week high of $119.40. The firm has a market cap of $81.88 billion, a PE ratio of 16.94, a price-to-earnings-growth ratio of 1.07 and a beta of 1.12. The company’s 50 day moving average is $111.48 and its two-hundred day moving average is $104.44.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings data on Friday, October 31st. The bank reported $1.91 earnings per share for the quarter. The business had revenue of $5.07 billion for the quarter. Bank of New York Mellon had a return on equity of 14.03% and a net margin of 12.86%. On average, research analysts expect 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 business also recently declared a quarterly dividend, which was paid on Friday, November 7th. Shareholders of record on Monday, October 27th were given a $0.53 dividend. The ex-dividend date of this dividend was Monday, October 27th. This represents a $2.12 dividend on an annualized basis and a yield of 1.8%. Bank of New York Mellon’s dividend payout ratio (DPR) is currently 30.59%.

About Bank of New York Mellon

Bank of New York Mellon Corporation (BNY Mellon) is a global financial services company headquartered in New York City that provides a wide range of asset servicing, custody, and related financial infrastructure solutions to institutional clients. Its core businesses include custody and asset servicing, clearing and collateral management, treasury services, securities lending, corporate trust services, and depositary receipt administration. The company also offers investment management and advisory services through its asset management arm and provides technology-enabled solutions for trade processing, foreign exchange, and liquidity management.

BNY Mellon serves a broad client base that includes asset managers, pension funds, corporations, banks, broker-dealers and sovereign entities.