Bank of New York Mellon Corp Lowers Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Bank of New York Mellon Corp lowered its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 4.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,177,398 shares of the bank’s stock after selling 207,325 shares during the quarter. Bank of New York Mellon Corp’s holdings in Bank of New York Mellon were worth $320,949,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Centricity Wealth Management LLC purchased a new position in shares of Bank of New York Mellon in the 4th quarter worth $39,000. Fortitude Family Office LLC increased its stake in Bank of New York Mellon by 130.6% during the third quarter. Fortitude Family Office LLC now owns 611 shares of the bank’s stock worth $44,000 after acquiring an additional 346 shares during the last quarter. Ashton Thomas Securities LLC purchased a new position in shares of Bank of New York Mellon in the 3rd quarter worth about $46,000. Modus Advisors LLC acquired a new position in shares of Bank of New York Mellon in the 4th quarter valued at about $49,000. Finally, Friedenthal Financial purchased a new stake in shares of Bank of New York Mellon during the 4th quarter worth about $56,000. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on BK shares. Bank of America raised their price target on shares of Bank of New York Mellon from $90.00 to $95.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Wells Fargo & Company raised their target price on shares of 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. Morgan Stanley upped their price target on shares of Bank of New York Mellon from $90.00 to $97.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Citigroup raised their price objective on Bank of New York Mellon from $75.00 to $82.00 and gave the company a “neutral” rating in a research report on Monday, November 25th. Finally, Wolfe Research cut Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $88.00.

Bank of New York Mellon Price Performance

Shares of NYSE BK opened at $86.23 on Thursday. The business has a 50 day moving average price of $82.59 and a two-hundred day moving average price of $76.86. The Bank of New York Mellon Co. has a fifty-two week low of $52.64 and a fifty-two week high of $89.44. The firm has a market cap of $62.70 billion, a PE ratio of 14.84, a price-to-earnings-growth ratio of 0.97 and a beta of 1.08. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.83.

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

Bank of New York Mellon Dividend Announcement

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