Portland Global Advisors LLC Has $6.89 Million Stake in The Bank of New York Mellon Co. (NYSE:BK)

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

Other hedge funds and other institutional investors have also modified their holdings of the company. Cerity Partners LLC raised its position in Bank of New York Mellon by 58.3% in the third quarter. Cerity Partners LLC now owns 52,982 shares of the bank’s stock worth $3,807,000 after purchasing an additional 19,518 shares in the last quarter. D.A. Davidson & CO. increased its stake in shares of Bank of New York Mellon by 3.3% in the 3rd quarter. D.A. Davidson & CO. now owns 7,299 shares of the bank’s stock valued at $525,000 after buying an additional 231 shares during the period. Townsquare Capital LLC raised its holdings in Bank of New York Mellon by 24.6% during the 3rd quarter. Townsquare Capital LLC now owns 22,001 shares of the bank’s stock worth $1,581,000 after purchasing an additional 4,342 shares during the last quarter. CreativeOne Wealth LLC lifted its holdings in Bank of New York Mellon by 3.8% in the third quarter. CreativeOne Wealth LLC now owns 8,971 shares of the bank’s stock valued at $645,000 after buying an additional 332 shares during the period. Finally, Fiduciary Trust Co boosted its position in shares of Bank of New York Mellon by 2.7% in the 3rd quarter. Fiduciary Trust Co now owns 12,967 shares of the bank’s stock worth $932,000 after purchasing an additional 343 shares during the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Analysts Set New Price Targets

BK has been the topic of several research analyst reports. Barclays raised their price objective on Bank of New York Mellon from $102.00 to $104.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Keefe, Bruyette & Woods boosted their price objective on shares of 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 reiterated a “sector perform” rating and set a $90.00 price target on shares of Bank of New York Mellon in a report on Monday, March 17th. Morgan Stanley lifted their target price on shares of 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. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Bank of New York Mellon from $94.00 to $98.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $89.71.

Bank of New York Mellon Price Performance

Shares of NYSE BK opened at $82.67 on Friday. The firm has a fifty day simple moving average of $85.34 and a 200 day simple moving average of $79.61. The Bank of New York Mellon Co. has a twelve month low of $52.64 and a twelve month high of $90.34. 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 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.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings data on Wednesday, January 15th. The bank reported $1.72 earnings per share for the quarter, beating analysts’ consensus estimates of $1.54 by $0.18. The firm had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.66 billion. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The business’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same period last year, the firm earned $1.28 earnings per share. On average, sell-side analysts forecast that The Bank of New York Mellon Co. will post 6.96 EPS for the current year.

Bank of New York Mellon Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Monday, January 27th were paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date was Monday, January 27th. Bank of New York Mellon’s payout ratio is 32.36%.

About Bank of New York Mellon

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.