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

Dana Investment Advisors Inc. reduced its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 13.2% in the 4th quarter, Holdings Channel reports. The fund owned 349,263 shares of the bank’s stock after selling 53,091 shares during the quarter. Bank of New York Mellon accounts for 0.9% of Dana Investment Advisors Inc.’s portfolio, making the stock its 16th biggest 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 quarter.

Several other large investors also recently modified their holdings of the business. Cape Investment Advisory Inc. lifted its position in shares of Bank of New York Mellon by 12.6% in the fourth quarter. Cape Investment Advisory Inc. now owns 1,172 shares of the bank’s stock valued at $90,000 after buying an additional 131 shares during the last quarter. Oppenheimer & Co. Inc. lifted its position in shares of Bank of New York Mellon by 0.4% in the fourth quarter. Oppenheimer & Co. Inc. now owns 34,536 shares of the bank’s stock valued at $2,653,000 after buying an additional 133 shares during the last quarter. Studio Investment Management LLC lifted its position in shares of Bank of New York Mellon by 2.1% in the third quarter. Studio Investment Management LLC now owns 6,636 shares of the bank’s stock valued at $477,000 after buying an additional 134 shares during the last quarter. Grove Bank & Trust lifted its position in shares of Bank of New York Mellon by 21.0% in the fourth quarter. Grove Bank & Trust now owns 779 shares of the bank’s stock valued at $60,000 after buying an additional 135 shares during the last quarter. Finally, Avidian Wealth Enterprises LLC lifted its position in shares of Bank of New York Mellon by 2.0% in the third quarter. Avidian Wealth Enterprises LLC now owns 7,024 shares of the bank’s stock valued at $505,000 after buying an additional 137 shares during the last quarter. 85.31% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on BK. Citigroup lifted their price target on Bank of New York Mellon from $75.00 to $82.00 and gave the stock a “neutral” rating in a report on Monday, November 25th. Bank of America lifted their price target on Bank of New York Mellon from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Morgan Stanley lifted their price target on Bank of New York Mellon from $90.00 to $97.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Wolfe Research cut Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. Finally, StockNews.com cut Bank of New York Mellon from a “buy” rating to a “hold” rating in a report on Wednesday, February 19th. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, Bank of New York Mellon has a consensus rating of “Moderate Buy” and a consensus price target of $88.71.

Bank of New York Mellon Stock Up 1.2 %

Shares of BK opened at $86.61 on Thursday. The company has a market capitalization of $62.04 billion, a PE ratio of 14.91, a PEG ratio of 0.97 and a beta of 1.06. The Bank of New York Mellon Co. has a 12 month low of $52.64 and a 12 month high of $90.34. The stock’s 50-day moving average price is $83.56 and its two-hundred day moving average price is $77.67. The company has a current ratio of 0.69, a quick ratio of 0.70 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 company had revenue of $4.85 billion for 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% compared to the same quarter last year. During the same period in the previous year, the business earned $1.28 EPS. On average, analysts anticipate that The Bank of New York Mellon Co. will post 6.96 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Monday, January 27th were paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date was Monday, January 27th. Bank of New York Mellon’s dividend payout ratio is 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.