Raleigh Capital Management Inc. Has $913,000 Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Raleigh Capital Management Inc. decreased its position in The Bank of New York Mellon Co. (NYSE:BK) by 17.2% in the fourth quarter, HoldingsChannel reports. The firm owned 11,886 shares of the bank’s stock after selling 2,462 shares during the period. Raleigh Capital Management Inc.’s holdings in Bank of New York Mellon were worth $913,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. AE Wealth Management LLC boosted its position in shares of Bank of New York Mellon by 10.1% in the second quarter. AE Wealth Management LLC now owns 16,792 shares of the bank’s stock worth $1,006,000 after buying an additional 1,535 shares during the period. Ensign Peak Advisors Inc lifted its stake in Bank of New York Mellon by 36.3% in the 2nd quarter. Ensign Peak Advisors Inc now owns 145,451 shares of the bank’s stock worth $8,711,000 after acquiring an additional 38,740 shares in the last quarter. ProShare Advisors LLC boosted its position in Bank of New York Mellon by 2.2% during the 2nd quarter. ProShare Advisors LLC now owns 174,067 shares of the bank’s stock worth $10,425,000 after acquiring an additional 3,717 shares during the period. 1832 Asset Management L.P. grew its stake in Bank of New York Mellon by 1.5% during the 2nd quarter. 1832 Asset Management L.P. now owns 47,837 shares of the bank’s stock valued at $2,865,000 after acquiring an additional 717 shares in the last quarter. Finally, Evergreen Capital Management LLC increased its holdings in shares of Bank of New York Mellon by 3.3% in the 2nd quarter. Evergreen Capital Management LLC now owns 22,175 shares of the bank’s stock valued at $1,328,000 after purchasing an additional 716 shares during the period. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BK has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods boosted their price objective on shares of Bank of New York Mellon from $87.00 to $96.00 and gave the company an “outperform” rating in a research report on Tuesday, December 3rd. Truist Financial boosted their price target on shares of Bank of New York Mellon from $91.00 to $93.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Wells Fargo & Company lifted their price objective 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. JPMorgan Chase & Co. upped their target price on Bank of New York Mellon from $69.00 to $77.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Finally, Citigroup lifted their price target on Bank of New York Mellon from $75.00 to $82.00 and gave the company a “neutral” rating in a report on Monday, November 25th. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, Bank of New York Mellon currently has a consensus rating of “Moderate Buy” and an average price target of $88.00.

Bank of New York Mellon Stock Down 0.7 %

BK stock opened at $84.33 on Thursday. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.69 and a quick ratio of 0.70. The company has a 50-day moving average of $79.23 and a two-hundred day moving average of $72.82. The stock has a market capitalization of $61.31 billion, a price-to-earnings ratio of 14.51, a price-to-earnings-growth ratio of 0.97 and a beta of 1.08. The Bank of New York Mellon Co. has a 52-week low of $52.64 and a 52-week high of $85.81.

Bank of New York Mellon (NYSE:BK) last released its earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.66 billion. During the same quarter last year, the firm posted $1.28 EPS. The company’s revenue was up 11.2% on a year-over-year basis. As a group, equities research analysts anticipate that The Bank of New York Mellon Co. will post 6.86 EPS for the current year.

Bank of New York Mellon Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Monday, January 27th will be issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date is Monday, January 27th. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 32.36%.

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.