LVW Advisors LLC Trims Stake in The Bank of New York Mellon Co. (NYSE:BK)

LVW Advisors LLC cut its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 6.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 13,891 shares of the bank’s stock after selling 927 shares during the period. LVW Advisors LLC’s holdings in Bank of New York Mellon were worth $1,067,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

BK has been the subject of a number of analyst reports. Wolfe Research lowered Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. Bank of America increased their target price 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. Barclays boosted their price target on Bank of New York Mellon from $102.00 to $104.00 and gave the stock an “overweight” rating in a report on Thursday. Truist Financial boosted their price target on Bank of New York Mellon from $91.00 to $93.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Deutsche Bank Aktiengesellschaft boosted 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. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, Bank of New York Mellon presently has an average rating of “Moderate Buy” and a consensus price target of $87.14.

Bank of New York Mellon Stock Performance

NYSE:BK opened at $83.31 on Monday. The stock’s fifty day moving average is $78.87 and its 200 day moving average is $72.32. The Bank of New York Mellon Co. has a fifty-two week low of $52.64 and a fifty-two week high of $83.67. The firm has a market capitalization of $60.57 billion, a PE ratio of 18.11, a PEG ratio of 0.76 and a beta of 1.08. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.70 and a current ratio of 0.70.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.18. Bank of New York Mellon had a return on equity of 12.06% and a net margin of 9.44%. The company had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.66 billion. During the same quarter in the prior year, the firm posted $1.28 EPS. Bank of New York Mellon’s quarterly revenue was up 11.2% compared to the same quarter last year. On average, sell-side analysts anticipate that The Bank of New York Mellon Co. will post 5.87 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Monday, January 27th will be issued a dividend of $0.47 per share. The ex-dividend date is Monday, January 27th. This represents a $1.88 annualized dividend and a yield of 2.26%. Bank of New York Mellon’s payout ratio is presently 40.87%.

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.