Transamerica Financial Advisors Inc. Trims Stock Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Transamerica Financial Advisors Inc. lowered its stake in The Bank of New York Mellon Co. (NYSE:BK) by 14.6% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 11,992 shares of the bank’s stock after selling 2,056 shares during the quarter. Transamerica Financial Advisors Inc.’s holdings in Bank of New York Mellon were worth $922,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of BK. Graney & King LLC purchased a new stake in shares of Bank of New York Mellon in the 4th quarter valued at $35,000. Centricity Wealth Management LLC acquired a new position in Bank of New York Mellon in the 4th quarter valued at about $39,000. TCTC Holdings LLC increased its stake in Bank of New York Mellon by 257.5% during the fourth quarter. TCTC Holdings LLC now owns 597 shares of the bank’s stock worth $46,000 after purchasing an additional 430 shares during the period. Modus Advisors LLC acquired a new stake in shares of Bank of New York Mellon during the fourth quarter worth about $49,000. Finally, Friedenthal Financial purchased a new position in shares of Bank of New York Mellon in the fourth quarter valued at approximately $56,000. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Analyst Upgrades and Downgrades

BK has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft increased their target price on shares of Bank of New York Mellon from $94.00 to $98.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Truist Financial lifted their target price on Bank of New York Mellon from $91.00 to $93.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Morgan Stanley upped their price target on Bank of New York Mellon from $90.00 to $97.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. StockNews.com cut Bank of New York Mellon from a “buy” rating to a “hold” rating in a research note on Wednesday, February 19th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $90.00 target price on shares of Bank of New York Mellon in a research note on Monday, March 17th. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, Bank of New York Mellon has a consensus rating of “Moderate Buy” and a consensus target price of $89.71.

Bank of New York Mellon Stock Down 2.1 %

Shares of NYSE:BK opened at $82.67 on Friday. The firm has a 50 day simple moving average of $85.34 and a 200-day simple moving average of $79.61. The Bank of New York Mellon Co. has a twelve month low of $52.64 and a twelve month high of $90.34. The company has a current ratio of 0.69, a quick ratio of 0.70 and a debt-to-equity ratio of 0.83. The company has a market capitalization of $59.35 billion, a PE ratio of 14.23, a P/E/G ratio of 0.97 and a beta of 1.06.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share for the quarter, beating analysts’ consensus estimates of $1.54 by $0.18. The firm had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.66 billion. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. Bank of New York Mellon’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.28 earnings per share. On average, equities analysts predict that The Bank of New York Mellon Co. will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Monday, January 27th were given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 2.27%. The ex-dividend date was Monday, January 27th. Bank of New York Mellon’s dividend payout ratio (DPR) is 32.36%.

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.