Dana Investment Advisors Inc. Sells 53,091 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Dana Investment Advisors Inc. cut its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 13.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 349,263 shares of the bank’s stock after selling 53,091 shares during the period. Bank of New York Mellon comprises about 0.9% of Dana Investment Advisors Inc.’s investment portfolio, making the stock its 16th largest position. Dana Investment Advisors Inc.’s holdings in Bank of New York Mellon were worth $26,834,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Centricity Wealth Management LLC bought a new stake in shares of Bank of New York Mellon during the fourth quarter valued at approximately $39,000. Ashton Thomas Securities LLC bought a new stake in shares of Bank of New York Mellon during the third quarter valued at approximately $46,000. Modus Advisors LLC bought a new stake in shares of Bank of New York Mellon during the fourth quarter valued at approximately $49,000. Friedenthal Financial bought a new stake in shares of Bank of New York Mellon during the fourth quarter valued at approximately $56,000. Finally, Asset Dedication LLC increased its position in shares of Bank of New York Mellon by 342.1% during the fourth quarter. Asset Dedication LLC now owns 756 shares of the bank’s stock valued at $58,000 after purchasing an additional 585 shares during the period. 85.31% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on BK shares. Evercore ISI upped their price target on Bank of New York Mellon from $79.00 to $83.00 and gave the company an “in-line” rating in a research report on Thursday, January 16th. Keefe, Bruyette & Woods upped their price target on Bank of New York Mellon from $87.00 to $96.00 and gave the company an “outperform” rating in a research report on Tuesday, December 3rd. Morgan Stanley upped their price target on Bank of New York Mellon from $90.00 to $97.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Barclays upped their price target on Bank of New York Mellon from $102.00 to $104.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Finally, StockNews.com cut Bank of New York Mellon from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $88.71.

Bank of New York Mellon Trading Up 1.2 %

Shares of BK opened at $86.61 on Thursday. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.83. The Bank of New York Mellon Co. has a 12-month low of $52.64 and a 12-month high of $90.34. The firm has a market capitalization of $62.04 billion, a PE ratio of 14.91, a price-to-earnings-growth ratio of 0.97 and a beta of 1.06. The stock’s fifty day simple moving average is $83.56 and its 200-day simple moving average is $77.67.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings data on Wednesday, January 15th. The bank reported $1.72 EPS for the quarter, beating analysts’ consensus estimates of $1.54 by $0.18. The business had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.66 billion. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. The firm’s revenue was up 11.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.28 earnings per share. As a group, research analysts predict 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 business 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. The ex-dividend date of this dividend was Monday, January 27th. This represents a $1.88 dividend on an annualized basis and a yield of 2.17%. Bank of New York Mellon’s dividend payout ratio 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.