The Bank of New York Mellon Co. (NYSE:BK) Shares Sold by Portland Global Advisors LLC

Portland Global Advisors LLC trimmed its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK) by 1.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 89,642 shares of the bank’s stock after selling 1,538 shares during the quarter. Portland Global Advisors LLC’s holdings in Bank of New York Mellon were worth $6,887,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Graney & King LLC acquired a new stake in shares of Bank of New York Mellon during the 4th quarter worth about $35,000. Centricity Wealth Management LLC acquired a new position in Bank of New York Mellon during the fourth quarter worth $39,000. TCTC Holdings LLC increased its holdings in shares of Bank of New York Mellon by 257.5% in the 4th quarter. TCTC Holdings LLC now owns 597 shares of the bank’s stock valued at $46,000 after purchasing an additional 430 shares in the last quarter. Modus Advisors LLC purchased a new stake in shares of Bank of New York Mellon during the 4th quarter worth approximately $49,000. Finally, Friedenthal Financial purchased a new stake in Bank of New York Mellon during the fourth quarter worth $56,000. Institutional investors and hedge funds own 85.31% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on BK shares. StockNews.com lowered shares of Bank of New York Mellon from a “buy” rating to a “hold” rating in a report on Wednesday, February 19th. UBS Group increased their target price on shares of Bank of New York Mellon from $88.00 to $94.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. Keefe, Bruyette & Woods upped their target price on Bank of New York Mellon from $87.00 to $96.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. Wolfe Research lowered shares of Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. Finally, Wells Fargo & Company increased their target price on Bank of New York Mellon from $86.00 to $96.00 and gave the company an “equal weight” rating in a research note on Monday, March 3rd. 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 stock currently has a consensus rating of “Moderate Buy” and an average price target of $89.71.

Bank of New York Mellon Stock Down 2.1 %

BK opened at $82.67 on Friday. The stock’s fifty day moving average is $85.34 and its 200-day moving average is $79.61. The company has a market capitalization of $59.35 billion, a PE ratio of 14.23, a P/E/G ratio of 0.97 and a beta of 1.06. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.70 and a current ratio of 0.69. The Bank of New York Mellon Co. has a one year low of $52.64 and a one year high of $90.34.

Bank of New York Mellon (NYSE:BK) last announced its earnings results on Wednesday, January 15th. The bank reported $1.72 EPS for the quarter, beating the consensus estimate of $1.54 by $0.18. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. The business had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.66 billion. During the same period in the prior year, the business posted $1.28 earnings per share. Bank of New York Mellon’s revenue was up 11.2% compared to the same quarter last year. On average, equities analysts predict that The Bank of New York Mellon Co. will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Shareholders 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 annualized dividend and a yield of 2.27%. Bank of New York Mellon’s dividend payout ratio is presently 32.36%.

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.