Fiduciary Family Office LLC Lowers Holdings in The Bank of New York Mellon Corporation $BK

Key Points

• Fiduciary Family Office LLC reduced its holdings in The Bank of New York Mellon Corporation (BK) by 17.5%, selling 4,069 shares and now owning 19,234 shares valued at approximately $1.75 million.
• The company announced a quarterly dividend of $0.53 per share, with the ex-dividend date set for October 27th, representing an annualized dividend yield of 2.0%.
• Several analysts have recently upgraded their target price for BK, with estimates ranging from $105 to $120, indicating a consensus rating of "Moderate Buy".

Fiduciary Family Office LLC trimmed its position in The Bank of New York Mellon Corporation (NYSE:BK - Free Report) by 17.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 19,234 shares of the bank's stock after selling 4,069 shares during the quarter. Fiduciary Family Office LLC's holdings in Bank of New York Mellon were worth $1,752,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Alpine Bank Wealth Management purchased a new stake in shares of Bank of New York Mellon during the 1st quarter worth $25,000. Cornerstone Planning Group LLC raised its holdings in Bank of New York Mellon by 100.0% in the first quarter. Cornerstone Planning Group LLC now owns 392 shares of the bank's stock worth $30,000 after purchasing an additional 196 shares in the last quarter. Orion Capital Management LLC bought a new position in Bank of New York Mellon in the first quarter worth about $32,000. Hoey Investments Inc. bought a new position in Bank of New York Mellon in the second quarter worth about $32,000. Finally, Golden State Wealth Management LLC raised its holdings in Bank of New York Mellon by 226.4% in the first quarter. Golden State Wealth Management LLC now owns 408 shares of the bank's stock worth $34,000 after purchasing an additional 283 shares in the last quarter. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Bank of New York Mellon Stock Up 2.4%

Shares of BK stock opened at $108.50 on Tuesday. The stock's 50-day simple moving average is $105.70 and its 200-day simple moving average is $94.89. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.72 and a current ratio of 0.70. The firm has a market capitalization of $76.52 billion, a PE ratio of 15.66, a P/E/G ratio of 0.98 and a beta of 1.13. The Bank of New York Mellon Corporation has a fifty-two week low of $70.46 and a fifty-two week high of $110.87.

Bank of New York Mellon (NYSE:BK - Get Free Report) last announced its quarterly earnings data on Tuesday, March 26th. The bank reported $1.30 earnings per share for the quarter. The business had revenue of $4.38 billion for the quarter. Bank of New York Mellon had a return on equity of 14.03% and a net margin of 12.86%. Equities 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 will be paid on Friday, November 7th. Stockholders of record on Monday, October 27th will be issued a $0.53 dividend. The ex-dividend date of this dividend is Monday, October 27th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.0%. Bank of New York Mellon's dividend payout ratio is currently 30.59%.

Wall Street Analysts Forecast Growth

BK has been the subject of a number of recent research reports. Wells Fargo & Company boosted their target price on shares of Bank of New York Mellon from $100.00 to $109.00 and gave the stock an "equal weight" rating in a report on Friday. Barclays boosted their target price on shares of Bank of New York Mellon from $104.00 to $120.00 and gave the stock an "overweight" rating in a report on Friday. Citigroup boosted their target price on shares of Bank of New York Mellon from $92.00 to $105.00 and gave the stock a "neutral" rating in a report on Friday, September 5th. The Goldman Sachs Group upped their target price on Bank of New York Mellon from $106.00 to $120.00 and gave the company a "buy" rating in a research report on Monday, October 6th. Finally, Truist Financial upped their target price on Bank of New York Mellon from $118.00 to $119.00 and gave the company a "hold" rating in a research report on Friday. Ten analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat.com, Bank of New York Mellon currently has a consensus rating of "Moderate Buy" and a consensus target price of $111.29.

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.

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