The Bank of New York Mellon Co. (NYSE:BK) is Butensky & Cohen Financial Security Inc.’s 6th Largest Position

Butensky & Cohen Financial Security Inc. lessened its stake in The Bank of New York Mellon Co. (NYSE:BK) by 11.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 77,134 shares of the bank’s stock after selling 10,038 shares during the period. Bank of New York Mellon comprises about 1.9% of Butensky & Cohen Financial Security Inc.’s investment portfolio, making the stock its 6th largest position. Butensky & Cohen Financial Security Inc.’s holdings in Bank of New York Mellon were worth $5,926,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Studio Investment Management LLC lifted its holdings in Bank of New York Mellon by 2.1% during the 3rd quarter. Studio Investment Management LLC now owns 6,636 shares of the bank’s stock worth $477,000 after buying an additional 134 shares during the last quarter. Stanley Laman Group Ltd. lifted its stake in Bank of New York Mellon by 2.2% during the third quarter. Stanley Laman Group Ltd. now owns 6,198 shares of the bank’s stock worth $445,000 after purchasing an additional 135 shares during the last quarter. Avidian Wealth Enterprises LLC boosted its holdings in Bank of New York Mellon by 2.0% in the third quarter. Avidian Wealth Enterprises LLC now owns 7,024 shares of the bank’s stock worth $505,000 after purchasing an additional 137 shares during the period. Frank Rimerman Advisors LLC increased its stake in Bank of New York Mellon by 1.1% during the third quarter. Frank Rimerman Advisors LLC now owns 12,908 shares of the bank’s stock valued at $928,000 after purchasing an additional 142 shares during the last quarter. Finally, Sigma Planning Corp raised its holdings in shares of Bank of New York Mellon by 2.7% during the third quarter. Sigma Planning Corp now owns 5,470 shares of the bank’s stock worth $393,000 after purchasing an additional 143 shares during the period. 85.31% of the stock is owned by institutional investors and hedge funds.

Bank of New York Mellon Stock Performance

BK opened at $83.31 on Friday. The Bank of New York Mellon Co. has a 52-week low of $52.64 and a 52-week high of $83.67. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.70 and a current ratio of 0.70. The stock has a 50-day moving average of $78.74 and a 200-day moving average of $72.08. The company has a market cap of $60.57 billion, a PE ratio of 18.11, a price-to-earnings-growth ratio of 0.76 and a beta of 1.08.

Bank of New York Mellon (NYSE:BK) last released its 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 12.06% and a net margin of 9.44%. The business had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.66 billion. During the same period last year, the business earned $1.28 earnings per share. The firm’s revenue for the quarter was up 11.2% compared to the same quarter last year. As a group, equities research analysts forecast that The Bank of New York Mellon Co. will post 5.87 earnings per share for the current fiscal year.

Bank of New York Mellon Announces Dividend

The business 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 of this dividend is Monday, January 27th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.26%. Bank of New York Mellon’s payout ratio is 40.87%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on BK. Wells Fargo & Company lifted their price target on shares of Bank of New York Mellon from $82.00 to $86.00 and gave the company an “equal weight” rating in a report on Thursday. Wolfe Research lowered Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. Citigroup raised their price target on Bank of New York Mellon from $75.00 to $82.00 and gave the stock a “neutral” rating in a report on Monday, November 25th. Royal Bank of Canada restated a “sector perform” rating and set a $79.00 price objective on shares of Bank of New York Mellon in a research note on Monday, October 14th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Bank of New York Mellon from $94.00 to $98.00 and gave the company a “buy” rating in a research note on Thursday. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $87.14.

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.