Folger Nolan Fleming Douglas Capital Management Inc. Sells 1,682 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Folger Nolan Fleming Douglas Capital Management Inc. cut its stake in The Bank of New York Mellon Co. (NYSE:BK) by 14.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,853 shares of the bank’s stock after selling 1,682 shares during the period. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in Bank of New York Mellon were worth $757,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of BK. Axxcess Wealth Management LLC increased its holdings in Bank of New York Mellon by 45.4% in the 2nd quarter. Axxcess Wealth Management LLC now owns 10,855 shares of the bank’s stock worth $650,000 after purchasing an additional 3,389 shares in the last quarter. Argent Trust Co boosted its stake in shares of Bank of New York Mellon by 10.5% in the 2nd quarter. Argent Trust Co now owns 21,855 shares of the bank’s stock valued at $1,309,000 after purchasing an additional 2,072 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. increased its position in shares of Bank of New York Mellon by 3.7% during the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 24,937 shares of the bank’s stock worth $1,493,000 after buying an additional 897 shares during the period. Blair William & Co. IL grew its holdings in Bank of New York Mellon by 10.7% during the 2nd quarter. Blair William & Co. IL now owns 23,691 shares of the bank’s stock worth $1,419,000 after acquiring an additional 2,298 shares during the period. Finally, XTX Topco Ltd raised its position in shares of Bank of New York Mellon by 95.7% in the 2nd quarter. XTX Topco Ltd now owns 25,427 shares of the bank’s stock worth $1,523,000 after acquiring an additional 12,432 shares in the last quarter. 85.31% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Citigroup increased their target price on shares of Bank of New York Mellon from $75.00 to $82.00 and gave the stock a “neutral” rating in a research note on Monday, November 25th. Wolfe Research lowered shares of Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. Morgan Stanley raised their price objective on Bank of New York Mellon from $90.00 to $97.00 and gave the company an “overweight” rating in a research note on Thursday. Barclays upped their price objective on Bank of New York Mellon from $102.00 to $104.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, Truist Financial upped their price target 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. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $87.14.

Bank of New York Mellon Stock Up 1.3 %

Shares of BK stock opened at $83.31 on Friday. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.70 and a quick ratio of 0.70. The company’s fifty day moving average price is $78.74 and its 200-day moving average price is $72.08. The company has a market capitalization of $60.57 billion, a price-to-earnings ratio of 18.11, a PEG ratio of 0.76 and a beta of 1.08. The Bank of New York Mellon Co. has a one year low of $52.64 and a one year high of $83.67.

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 the consensus estimate of $1.54 by $0.18. The business had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.66 billion. Bank of New York Mellon had a return on equity of 12.06% and a net margin of 9.44%. The company’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.28 EPS. Sell-side analysts expect that The Bank of New York Mellon Co. will post 5.87 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Monday, January 27th will be given a dividend of $0.47 per share. The ex-dividend date is Monday, January 27th. This represents a $1.88 annualized dividend and a dividend yield of 2.26%. Bank of New York Mellon’s dividend payout ratio (DPR) is 40.87%.

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.