The Bank of New York Mellon Co. (NYSE:BK) Stake Decreased by Matrix Asset Advisors Inc. NY

Matrix Asset Advisors Inc. NY lessened its position in The Bank of New York Mellon Co. (NYSE:BK) by 4.9% in the fourth quarter, HoldingsChannel reports. The firm owned 489,288 shares of the bank’s stock after selling 25,068 shares during the quarter. Bank of New York Mellon accounts for approximately 4.1% of Matrix Asset Advisors Inc. NY’s holdings, making the stock its 3rd biggest holding. Matrix Asset Advisors Inc. NY’s holdings in Bank of New York Mellon were worth $37,592,000 at the end of the most recent quarter.

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

Bank of New York Mellon Stock Performance

Shares of NYSE BK opened at $85.85 on Tuesday. The Bank of New York Mellon Co. has a 12-month low of $52.64 and a 12-month high of $86.34. The firm has a market capitalization of $62.42 billion, a price-to-earnings ratio of 14.78, a price-to-earnings-growth ratio of 0.96 and a beta of 1.08. 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 firm has a 50 day moving average of $79.53 and a 200 day moving average of $73.27.

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 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 firm had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.66 billion. During the same quarter in the previous year, the firm posted $1.28 EPS. The company’s revenue for the quarter was up 11.2% compared to the same quarter last year. On average, research analysts anticipate that The Bank of New York Mellon Co. will post 6.86 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

The business also recently declared 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. This represents a $1.88 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date is Monday, January 27th. Bank of New York Mellon’s payout ratio is 32.36%.

Analyst Ratings Changes

BK has been the topic of several recent research reports. JPMorgan Chase & Co. upped their price target on Bank of New York Mellon from $69.00 to $77.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Citigroup raised their price target on Bank of New York Mellon from $75.00 to $82.00 and gave the company a “neutral” rating in a report on Monday, November 25th. StockNews.com lowered Bank of New York Mellon from a “buy” rating to a “hold” rating in a research report on Thursday, January 16th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Bank of New York Mellon from $94.00 to $98.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Finally, Wells Fargo & Company lifted their target price on shares of Bank of New York Mellon from $82.00 to $86.00 and gave the stock an “equal weight” rating in a report on Thursday, January 16th. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, Bank of New York Mellon has a consensus rating of “Moderate Buy” and an average price target of $88.00.

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.