Bank Of New York Mellon said on April 18, 2023 that its board of directors declared a regular quarterly dividend of $0.37 per share ($1.48 annualized). Previously, the company paid $0.37 per share.
Shares must be purchased before the ex-div date of April 27, 2023 to qualify for the dividend. Shareholders of record as of April 28, 2023 will receive the payment on May 11, 2023.
At the current share price of $45.24 / share, the stock's dividend yield is 3.27%. Looking back five years and taking a sample every week, the average dividend yield has been 2.75%, the lowest has been 1.66%, and the highest has been 4.51%. The standard deviation of yields is 0.53 (n=237).
The current dividend yield is 0.97 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.43. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.19%, demonstrating that it has increased its dividend over time.
Learn to Harvest Dividends
Buy Stock. Capture Dividend. Sell Stock. Repeat. This is the essence of dividend harvesting and you can do it easily with Fintel's Dividend Capture Calendar.
What is the Fund Sentiment?
There are 1953 funds or institutions reporting positions in Bank Of New York Mellon. This is an increase of 83 owner(s) or 4.44% in the last quarter. Average portfolio weight of all funds dedicated to BK is 0.43%, an increase of 23.37%. Total shares owned by institutions increased in the last three months by 1.22% to 809,660K shares. 
The put/call ratio of BK is 1.04, indicating a bearish outlook.
Analyst Price Forecast Suggests 22.80% Upside
As of April 6, 2023, the average one-year price target for Bank Of New York Mellon is $55.56. The forecasts range from a low of $44.44 to a high of $67.20. The average price target represents an increase of 22.80% from its latest reported closing price of $45.24.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Bank Of New York Mellon is $17,799MM, an increase of 6.26%. The projected annual non-GAAP EPS is $4.84.
What are Other Shareholders Doing?
IAVGX - Voya Growth and Income Portfolio DV holds 565K shares representing 0.07% ownership of the company. In it's prior filing, the firm reported owning 576K shares, representing a decrease of 1.93%. The firm increased its portfolio allocation in BK by 10.47% over the last quarter.
RKL Wealth Management holds 4K shares representing 0.00% ownership of the company. In it's prior filing, the firm reported owning 0K shares, representing an increase of 100.00%.
NMFAX - Nationwide Dynamic U.S. Growth Fund holds 20K shares representing 0.00% ownership of the company. In it's prior filing, the firm reported owning 21K shares, representing a decrease of 1.32%. The firm increased its portfolio allocation in BK by 15.16% over the last quarter.
Mather Group, Llc. holds 6K shares representing 0.00% ownership of the company. In it's prior filing, the firm reported owning 6K shares, representing a decrease of 0.02%. The firm increased its portfolio allocation in BK by 5.71% over the last quarter.
Essex Financial Services holds 12K shares representing 0.00% ownership of the company. In it's prior filing, the firm reported owning 12K shares, representing an increase of 0.54%. The firm increased its portfolio allocation in BK by 5.56% over the last quarter.
Bank Of New York Mellon Background Information
(This description is provided by the company.)
BNY Mellon is a global investments company dedicated to helping its clients manage and service their financial assets throughout the investment lifecycle. Whether providing financial services for institutions, corporations or individual investors, BNY Mellon delivers informed investment and wealth management and investment services in 35 countries. As of Sept. 30, 2020, BNY Mellon had $38.6 trillionin assets under custody and/or administration, and $2.0 trillionin assets under management. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
