Greenleaf Trust Has $2.24 Million Stake in The Bank of New York Mellon Co. (NYSE:BK)

Greenleaf Trust decreased its position in The Bank of New York Mellon Co. (NYSE:BK) by 0.6% during the 4th quarter, HoldingsChannel.com reports. The firm owned 29,140 shares of the bank’s stock after selling 188 shares during the period. Greenleaf Trust’s holdings in Bank of New York Mellon were worth $2,239,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. United Advisor Group LLC acquired a new stake in shares of Bank of New York Mellon in the 3rd quarter valued at about $595,000. Czech National Bank increased its position in shares of Bank of New York Mellon by 4.9% in the fourth quarter. Czech National Bank now owns 157,645 shares of the bank’s stock valued at $12,112,000 after acquiring an additional 7,316 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Bank of New York Mellon by 1.7% in the third quarter. Principal Financial Group Inc. now owns 883,853 shares of the bank’s stock valued at $63,514,000 after acquiring an additional 14,916 shares during the last quarter. Chase Investment Counsel Corp increased its position in shares of Bank of New York Mellon by 67.2% in the third quarter. Chase Investment Counsel Corp now owns 83,530 shares of the bank’s stock valued at $6,002,000 after acquiring an additional 33,558 shares during the last quarter. Finally, HighTower Advisors LLC increased its position in shares of Bank of New York Mellon by 130.1% in the third quarter. HighTower Advisors LLC now owns 326,372 shares of the bank’s stock valued at $23,449,000 after acquiring an additional 184,560 shares during the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Bank of New York Mellon Trading Down 0.6 %

Shares of NYSE:BK opened at $86.01 on Monday. The Bank of New York Mellon Co. has a 12-month low of $52.64 and a 12-month high of $87.70. The stock has a market cap of $62.53 billion, a PE ratio of 14.80, a P/E/G ratio of 0.98 and a beta of 1.08. The business has a 50 day moving average of $80.29 and a 200-day moving average of $73.97. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.83.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings data on Wednesday, January 15th. The bank reported $1.72 earnings per share (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 analysts’ expectations of $4.66 billion. During the same quarter in the previous year, the company posted $1.28 earnings per share. The business’s revenue was up 11.2% on a year-over-year basis. As a group, equities research analysts forecast that The Bank of New York Mellon Co. will post 6.86 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Monday, January 27th will be given a $0.47 dividend. The ex-dividend date is Monday, January 27th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.19%. Bank of New York Mellon’s payout ratio is 32.36%.

Analysts Set New Price Targets

A number of analysts recently issued reports on BK shares. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $79.00 target price on shares of Bank of New York Mellon in a research report on Monday, October 14th. Truist Financial lifted their target price on Bank of New York Mellon from $91.00 to $93.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Wells Fargo & Company lifted 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 research report on Thursday, January 16th. Barclays lifted their target price on Bank of New York Mellon from $102.00 to $104.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Bank of New York Mellon from $94.00 to $98.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $88.00.

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.