The Bank of New York Mellon Corporation $BK Shares Sold by Clifford Swan Investment Counsel LLC

Clifford Swan Investment Counsel LLC lowered its stake in The Bank of New York Mellon Corporation (NYSE:BK) by 25.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 75,285 shares of the bank’s stock after selling 25,303 shares during the quarter. Clifford Swan Investment Counsel LLC’s holdings in Bank of New York Mellon were worth $8,203,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Westside Investment Management Inc. raised its position in shares of Bank of New York Mellon by 78.9% during the 2nd quarter. Westside Investment Management Inc. now owns 288 shares of the bank’s stock worth $26,000 after buying an additional 127 shares in the last quarter. Valley Wealth Managers Inc. acquired a new position in shares of Bank of New York Mellon during the third quarter valued at approximately $33,000. Caldwell Trust Co bought a new stake in Bank of New York Mellon during the second quarter worth approximately $36,000. Quaker Wealth Management LLC lifted its position in Bank of New York Mellon by 198.9% in the second quarter. Quaker Wealth Management LLC now owns 450 shares of the bank’s stock worth $41,000 after purchasing an additional 905 shares during the period. Finally, Cornerstone Planning Group LLC boosted its stake in Bank of New York Mellon by 73.2% during the 3rd quarter. Cornerstone Planning Group LLC now owns 511 shares of the bank’s stock valued at $55,000 after purchasing an additional 216 shares in the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on BK shares. Royal Bank Of Canada boosted their price objective on Bank of New York Mellon from $124.00 to $130.00 and gave the stock a “sector perform” rating in a research note on Wednesday, January 14th. Weiss Ratings cut shares of Bank of New York Mellon from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Friday, February 13th. Truist Financial raised shares of Bank of New York Mellon from a “hold” rating to a “buy” rating and upped their price target for the company from $119.00 to $134.00 in a report on Wednesday, January 7th. New Street Research set a $143.00 price objective on shares of Bank of New York Mellon in a research note on Wednesday, January 14th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Bank of New York Mellon from $132.00 to $143.00 and gave the stock an “outperform” rating in a report on Wednesday, January 14th. Eight research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $131.92.

Bank of New York Mellon Trading Up 1.0%

Shares of BK opened at $121.50 on Friday. The business’s 50-day moving average price is $119.62 and its 200 day moving average price is $112.02. The company has a current ratio of 0.71, a quick ratio of 0.70 and a debt-to-equity ratio of 0.81. The stock has a market capitalization of $84.73 billion, a P/E ratio of 16.40, a P/E/G ratio of 1.12 and a beta of 1.10. The Bank of New York Mellon Corporation has a 1-year low of $70.46 and a 1-year high of $128.76.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings data on Friday, October 31st. The bank reported $1.91 EPS for the quarter. The company had revenue of $5.07 billion during the quarter. Bank of New York Mellon had a net margin of 13.62% and a return on equity of 14.37%. Analysts expect that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 5th. Investors of record on Friday, January 23rd were paid a $0.53 dividend. The ex-dividend date of this dividend was Friday, January 23rd. This represents a $2.12 dividend on an annualized basis and a yield of 1.7%. Bank of New York Mellon’s dividend payout ratio (DPR) is currently 28.61%.

Bank of New York Mellon Company Profile

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.