Hall Laurie J Trustee Sells 4,616 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Hall Laurie J Trustee trimmed its stake in The Bank of New York Mellon Co. (NYSE:BK) by 70.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,895 shares of the bank’s stock after selling 4,616 shares during the period. Hall Laurie J Trustee’s holdings in Bank of New York Mellon were worth $145,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. McClarren Financial Advisors Inc. raised its holdings in Bank of New York Mellon by 586.4% in the third quarter. McClarren Financial Advisors Inc. now owns 405 shares of the bank’s stock worth $29,000 after purchasing an additional 346 shares in the last quarter. Fortitude Family Office LLC raised its stake in shares of Bank of New York Mellon by 130.6% during the 3rd quarter. Fortitude Family Office LLC now owns 611 shares of the bank’s stock worth $44,000 after acquiring an additional 346 shares in the last quarter. Modus Advisors LLC purchased a new stake in Bank of New York Mellon during the fourth quarter valued at approximately $49,000. Ashton Thomas Securities LLC acquired a new stake in Bank of New York Mellon in the third quarter valued at approximately $46,000. Finally, Grove Bank & Trust grew its holdings in Bank of New York Mellon by 28.8% in the third quarter. Grove Bank & Trust now owns 644 shares of the bank’s stock worth $46,000 after purchasing an additional 144 shares during the last quarter. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on the company. UBS Group increased their price objective on Bank of New York Mellon from $73.00 to $82.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft increased their price target on Bank of New York Mellon from $94.00 to $98.00 and gave the company a “buy” rating in a research note on Thursday. Keefe, Bruyette & Woods boosted their price target on Bank of New York Mellon from $87.00 to $96.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 3rd. Royal Bank of Canada restated a “sector perform” rating and set a $79.00 price objective on shares of Bank of New York Mellon in a report on Monday, October 14th. Finally, Evercore ISI lifted their target price on shares of Bank of New York Mellon from $79.00 to $83.00 and gave the stock an “in-line” rating in a research note on Thursday. Six investment 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 an average rating of “Moderate Buy” and a consensus price target of $87.14.

Bank of New York Mellon Trading Up 1.3 %

NYSE BK opened at $83.31 on Monday. The Bank of New York Mellon Co. has a 1 year low of $52.64 and a 1 year high of $83.67. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.70 and a quick ratio of 0.70. The company has a market capitalization of $60.57 billion, a PE ratio of 18.11, a P/E/G ratio of 0.76 and a beta of 1.08. The company has a fifty day moving average of $78.87 and a 200 day moving average of $72.32.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings data on Wednesday, January 15th. The bank reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.18. The business had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.66 billion. Bank of New York Mellon had a return on equity of 12.06% and a net margin of 9.44%. The company’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.28 EPS. Research analysts forecast that The Bank of New York Mellon Co. will post 5.87 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Monday, January 27th will be given a $0.47 dividend. The ex-dividend date of this dividend is Monday, January 27th. This represents a $1.88 annualized dividend and a yield of 2.26%. Bank of New York Mellon’s dividend payout ratio is presently 40.87%.

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.