Schneider Downs Wealth Management Advisors LP Has $260,000 Position in The Bank of New York Mellon Co. (NYSE:BK)

Schneider Downs Wealth Management Advisors LP cut its stake in The Bank of New York Mellon Co. (NYSE:BK) by 6.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,379 shares of the bank’s stock after selling 247 shares during the period. Schneider Downs Wealth Management Advisors LP’s holdings in Bank of New York Mellon were worth $260,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Centricity Wealth Management LLC acquired a new position in Bank of New York Mellon in the 4th quarter valued at $39,000. Fortitude Family Office LLC increased its stake in shares of Bank of New York Mellon by 130.6% in the 3rd quarter. Fortitude Family Office LLC now owns 611 shares of the bank’s stock valued at $44,000 after purchasing an additional 346 shares during the last quarter. Ashton Thomas Securities LLC bought a new position in shares of Bank of New York Mellon in the 3rd quarter valued at $46,000. Modus Advisors LLC bought a new position in shares of Bank of New York Mellon in the 4th quarter valued at $49,000. Finally, Friedenthal Financial bought a new position in shares of Bank of New York Mellon in the 4th quarter valued at $56,000. 85.31% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BK has been the topic of several recent analyst reports. Wells Fargo & Company lifted their price target on Bank of New York Mellon from $82.00 to $86.00 and gave the company an “equal weight” rating in a research note on Thursday, January 16th. Citigroup boosted their price objective on Bank of New York Mellon from $75.00 to $82.00 and gave the stock a “neutral” rating in a research report on Monday, November 25th. Evercore ISI boosted their price objective on 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. Keefe, Bruyette & Woods boosted their price objective on Bank of New York Mellon from $87.00 to $96.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Bank of New York Mellon from $94.00 to $98.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $88.00.

Bank of New York Mellon Stock Down 0.6 %

Shares of NYSE:BK opened at $86.23 on Thursday. The company has a market capitalization of $62.70 billion, a price-to-earnings ratio of 14.84, a P/E/G ratio of 0.97 and a beta of 1.08. 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 business’s 50-day moving average is $82.59 and its 200-day moving average is $76.86. The Bank of New York Mellon Co. has a 1 year low of $52.64 and a 1 year high of $89.44.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share for the quarter, topping 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 business had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.66 billion. During the same period in the prior year, the business earned $1.28 EPS. The firm’s revenue for the quarter was up 11.2% on a year-over-year basis. Equities research analysts predict that The Bank of New York Mellon Co. will post 6.96 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Monday, January 27th were paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date of this dividend was Monday, January 27th. Bank of New York Mellon’s dividend payout ratio (DPR) is currently 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.