Rodgers Brothers Inc. Trims Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Rodgers Brothers Inc. lowered its position in The Bank of New York Mellon Co. (NYSE:BK) by 6.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 25,257 shares of the bank’s stock after selling 1,759 shares during the period. Rodgers Brothers Inc.’s holdings in Bank of New York Mellon were worth $1,940,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Norges Bank acquired a new position in shares of Bank of New York Mellon in the 4th quarter valued at $1,150,462,000. Wellington Management Group LLP raised its position in shares of Bank of New York Mellon by 2,707.1% in the third quarter. Wellington Management Group LLP now owns 3,258,967 shares of the bank’s stock worth $234,189,000 after acquiring an additional 3,142,869 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Bank of New York Mellon during the 4th quarter worth about $90,955,000. Arrowstreet Capital Limited Partnership grew its position in shares of Bank of New York Mellon by 17.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 7,751,219 shares of the bank’s stock valued at $595,526,000 after acquiring an additional 1,125,493 shares during the period. Finally, Zacks Investment Management purchased a new position in shares of Bank of New York Mellon in the 3rd quarter valued at about $62,589,000. Institutional investors and hedge funds own 85.31% of the company’s stock.

Bank of New York Mellon Stock Down 2.1 %

Shares of NYSE:BK opened at $82.67 on Monday. The Bank of New York Mellon Co. has a 52-week low of $52.64 and a 52-week high of $90.34. The stock has a market cap of $59.35 billion, a P/E ratio of 14.23, a PEG ratio of 0.97 and a beta of 1.06. The business has a fifty day moving average of $85.34 and a two-hundred day moving average of $79.69. 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 announced its quarterly earnings data on Wednesday, January 15th. The bank reported $1.72 earnings per share (EPS) 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 analyst estimates 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% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.28 earnings per share. On average, research analysts expect that The Bank of New York Mellon Co. will post 6.96 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Monday, January 27th were issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date of this dividend was Monday, January 27th. Bank of New York Mellon’s dividend payout ratio is presently 32.36%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on BK shares. Deutsche Bank Aktiengesellschaft increased their price target on Bank of New York Mellon from $94.00 to $98.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Barclays boosted their price target on shares of Bank of New York Mellon from $102.00 to $104.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Wolfe Research downgraded shares of Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. UBS Group lifted their target price on shares of Bank of New York Mellon from $88.00 to $94.00 and gave the company a “buy” rating in a research report on Tuesday, January 21st. Finally, 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. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $89.71.

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.