Daymark Wealth Partners LLC Has $294,000 Position in The Bank of New York Mellon Co. (NYSE:BK)

Daymark Wealth Partners LLC lessened its holdings in The Bank of New York Mellon Co. (NYSE:BKFree Report) by 42.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,825 shares of the bank’s stock after selling 2,774 shares during the period. Daymark Wealth Partners LLC’s holdings in Bank of New York Mellon were worth $294,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. McClarren Financial Advisors Inc. lifted its position in Bank of New York Mellon by 586.4% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 405 shares of the bank’s stock worth $29,000 after buying an additional 346 shares in the last quarter. Fortitude Family Office LLC increased its stake in shares of Bank of New York Mellon by 130.6% in the third quarter. Fortitude Family Office LLC now owns 611 shares of the bank’s stock worth $44,000 after acquiring an additional 346 shares during the last quarter. Modus Advisors LLC purchased a new stake in shares of Bank of New York Mellon during the fourth quarter worth $49,000. Ashton Thomas Securities LLC acquired a new stake in Bank of New York Mellon during the third quarter valued at $46,000. Finally, Grove Bank & Trust grew its stake in Bank of New York Mellon by 28.8% in the third quarter. Grove Bank & Trust now owns 644 shares of the bank’s stock valued at $46,000 after purchasing an additional 144 shares in the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Analysts Set New Price Targets

BK has been the subject of several recent research reports. Keefe, Bruyette & Woods boosted their price target on Bank of New York Mellon from $87.00 to $96.00 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. Truist Financial lifted their price objective on shares of Bank of New York Mellon from $91.00 to $93.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Evercore ISI increased their target price on shares of Bank of New York Mellon from $79.00 to $83.00 and gave the stock an “in-line” rating in a research report on Thursday, January 16th. Bank of America boosted their price target on Bank of New York Mellon from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Finally, StockNews.com lowered Bank of New York Mellon from a “buy” rating to a “hold” rating in a report on Thursday, January 16th. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $88.00.

Check Out Our Latest Analysis on Bank of New York Mellon

Bank of New York Mellon Price Performance

NYSE:BK opened at $85.82 on Friday. 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 stock has a market cap of $62.39 billion, a P/E ratio of 14.77, a PEG ratio of 0.96 and a beta of 1.08. The company has a fifty day moving average price of $79.38 and a 200 day moving average price of $72.91. The Bank of New York Mellon Co. has a one year low of $52.64 and a one year high of $86.34.

Bank of New York Mellon (NYSE:BKGet Free Report) last released its quarterly earnings data 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. 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 12.68% and a net margin of 11.35%. Bank of New York Mellon’s quarterly revenue was up 11.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.28 earnings per share. Analysts anticipate 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 disclosed a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Monday, January 27th will be issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date is Monday, January 27th. Bank of New York Mellon’s payout ratio is 32.36%.

Bank of New York Mellon Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Bank of New York Mellon (NYSE:BK)

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