Burney Co. Has $4.78 Million Stock Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Burney Co. cut its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 8.1% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 107,450 shares of the bank’s stock after selling 9,502 shares during the period. Burney Co.’s holdings in Bank of New York Mellon were worth $4,784,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of BK. Kistler Tiffany Companies LLC grew its holdings in shares of Bank of New York Mellon by 4.9% in the second quarter. Kistler Tiffany Companies LLC now owns 4,764 shares of the bank’s stock valued at $212,000 after acquiring an additional 224 shares in the last quarter. Pinkerton Retirement Specialists LLC grew its holdings in Bank of New York Mellon by 0.4% during the 2nd quarter. Pinkerton Retirement Specialists LLC now owns 63,013 shares of the bank’s stock valued at $2,805,000 after buying an additional 240 shares in the last quarter. Laurel Wealth Advisors Inc. increased its holdings in Bank of New York Mellon by 1.7% during the 1st quarter. Laurel Wealth Advisors Inc. now owns 14,451 shares of the bank’s stock worth $717,000 after acquiring an additional 245 shares during the period. Farmers & Merchants Investments Inc. raised its position in shares of Bank of New York Mellon by 5.6% in the first quarter. Farmers & Merchants Investments Inc. now owns 4,936 shares of the bank’s stock worth $224,000 after buying an additional 260 shares in the last quarter. Finally, McIlrath & Eck LLC boosted its position in shares of Bank of New York Mellon by 4.9% during the 2nd quarter. McIlrath & Eck LLC now owns 5,711 shares of the bank’s stock valued at $254,000 after acquiring an additional 268 shares during the last quarter. 81.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on BK. StockNews.com initiated coverage on Bank of New York Mellon in a research report on Thursday, October 5th. They set a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft cut their target price on shares of Bank of New York Mellon from $45.00 to $44.00 and set a “hold” rating on the stock in a report on Wednesday, October 11th. Citigroup lowered their price target on Bank of New York Mellon from $58.00 to $55.00 in a research report on Wednesday, July 19th. Morgan Stanley dropped their target price on shares of Bank of New York Mellon from $48.00 to $46.00 and set an “underweight” rating for the company in a research report on Tuesday, October 3rd. Finally, Bank of America dropped their price target on Bank of New York Mellon from $55.00 to $53.00 in a research report on Tuesday, October 10th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, Bank of New York Mellon currently has an average rating of “Hold” and a consensus price target of $52.40.

Bank of New York Mellon Price Performance

Shares of Bank of New York Mellon stock opened at $46.45 on Wednesday. The stock’s 50-day simple moving average is $43.30 and its 200-day simple moving average is $43.46. The company has a market capitalization of $35.72 billion, a price-to-earnings ratio of 10.90, a PEG ratio of 1.07 and a beta of 1.10. The Bank of New York Mellon Co. has a 52 week low of $39.65 and a 52 week high of $52.26. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.83.

Bank of New York Mellon (NYSE:BK) last posted its earnings results on Tuesday, October 17th. The bank reported $1.27 EPS for the quarter, topping analysts’ consensus estimates of $1.15 by $0.12. The company had revenue of $4.37 billion for the quarter, compared to the consensus estimate of $4.32 billion. Bank of New York Mellon had a return on equity of 11.84% and a net margin of 11.81%. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.21 earnings per share. As a group, analysts expect that The Bank of New York Mellon Co. will post 4.88 earnings per share for the current fiscal year.

Bank of New York Mellon Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 9th. Stockholders of record on Friday, October 27th were issued a $0.42 dividend. The ex-dividend date was Thursday, October 26th. This represents a $1.68 annualized dividend and a dividend yield of 3.62%. Bank of New York Mellon’s payout ratio is 39.44%.

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.